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Technology Stocks : Wolf speed

WOLF 20.35

+2.2%

Jan 16 9:30 AM EST

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To: glen who wrote (799)	4/16/1998 9:38:00 AM
From: w2j2	Read Replies (1) of 10714

What a great conference call! I was impressed with inventories at a 2 year low. The diode is bright enough and at a price that is competitive in Japan. They predict a brighter blue and green by the end of 1998 (fiscal?) Prototypes of new diodes are very competitive on BRIGHTNESS with Saphire. 30 % sequential increase in unit volume (not revenues) over next 2 to 3 quarters. Expect at least flat revenues over next few quarters, and earnings should hit targets. Increasing demand for microwave and power devices. I did not realize that Cree was doing more than supplying substrate. But Hunter talked about buying more steppers, so they are manufacturing Integrated circuits. They are working on a 200 to 300 watt power transformer device for tv, radio, & cellular. Revenues now, expect hockey stick ramp in early 1999. Realizing advantages over saphire substrate. Competeing very well with saphire products. Business 30 - 40% Europe, 30% U.S., 30 % Asia. Laser now < 100uamp power. " We are far down the cost curve, and we will be competitive with Ga As-GaN as well as GaN-Saphire products" SiC-GaN has best lattice match. 3" wafer in 1999. Blue LED is 40% of total revenues. 70% of those are automotive. C3 is 10-15% of revenues. Government contracts are 16% of revenues. 2 new government contracts for research on power and microwave devices. Microwave is 5% of revenues. ABB is very satisfied with quality of product. Flaws in wafers are decreasing steadily. "Shooting for a blowout quarter IF we can get Japan contracts. Quote from Japan: " Cree is the only company in the world that can supply substrate and epitaxy for electronic devices" Write down on Display business, hints that they are going to get rid of that business. "Stock is at a stupid price" Not stupid for buyers! wj

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