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To: MARK BARGER who wrote (5152)	3/8/2001 7:40:14 AM
From: unclewest	Read Replies (3) \| Respond to of 10714

i am a realist...i like to look at where things are today...but when investing, i look at today and the future. this is how i see cree now. cree is in the third Q of 2001....the numbers so far are 37 million 42 million now predicting 45 million for this quarter and 15% less or 38 million for 4th quarter. this totals 162 million for 2001 vs 108 million last year or about +50%. earnings last year were $0.42 vs forecasted $0.68 this year or +60%. they went on and forecast 200-240 million for fy 2002 or revenue growth of 25-50%. earnings are going to be 17, 18, 18 and 15 or $0.68 for this year and are forecasted to be $0.68 to $0.82 next year. nothing has really changed from the conference call where cree clearly indicated a lower booking level for the fourth Q. at $20 a share, cree's current PE based on fy 2001 earnings of 0.68 is 30. 2002 revenue growth of 25-50% is outstanding....earnings growth of 0-20% is not. it means cree expects margins to head lower. cree said in the release that LED sales are under pressure... RF devices are out there but there are no reports of orders. the SiC based laser and power devices are still vaporware. cree has enormous intellectual property...the senior staff has been chasing SiC for 20 years...my best guess right now is cree gets bought out within a year. if the various sub divisions start getting meaningful sales, the buyout scenario could change to one of spin-offs. in the meantime, until cree can demonstrate RF sales, things are going to be weak. imo either the laser or power devices will be needed to get cree back to the old highs. i attended the AGM...what happened to cree cubed? uw

To: MARK BARGER who wrote (5152)	3/9/2001 8:03:46 PM
From: Jimbo Cobb	Read Replies (1) \| Respond to of 10714

Wow Mark...what a bloodbath in tech land (not just CREE), huh ?? Man, Greenberg & the shorts just won't let up on CREE....he's pounding it again today...what do you make of all the "related-party" deals he has questioned over the last 6 months or so ?? Any real concerns management is less than forthright?....Profit margins seem to be under some major pressure, but CREE is definitely starting to get interesting here......then again I thought CSCO was a great buy at $30 !!!!! Jimbo Spectrian Finds Out What It's Like to Get Cree'd By Herb Greenberg Senior Columnist 3/9/01 9:59 AM ET Very Briefly: Cree-d off!: What must they be thinking at Spectrian (SPCT:Nasdaq - news - boards) now that Cree (CREE:Nasdaq - news - boards) is warning that its business is soft? A few months ago, when Cree was trading at $35, Spectrian sold its UltraRF semiconductor division to Cree in return for Cree stock. As part of the deal, Spectrian agreed to buy $58 million worth of UltraRF chips from Cree -- no matter what! Spectrian even warns in its 10-Q that it is "obligated to purchase excess inventory that it may never utilize ... which could have a material adverse effect on the Company's business, financial conditions and cash flows." So, here's Spectrian, fresh from its deal with Cree, and not only has Cree's biz slowed -- with its stock now trading at $17.50 -- but so has biz for Spectrian's largest customer, Nortel (NT:NYSE - news - boards)! Talk about getting caught between a rock and a hard place! Maybe Spectrian should've paid closer attention to a similar deal Cree had managed to strike with Charles & Colvard (CTHR:Nasdaq - news - boards), the fake diamond company that got stuffed with four years' worth of inventory. Spectrian officials couldn't be reached.