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Technology Stocks : Wolf speed -- Ignore unavailable to you. Want to Upgrade?

To: Charger who wrote (915)	11/2/1998 8:27:00 AM
From: Ron	Read Replies (1) \| Respond to of 10714

When I get a bullish sign on the chart, I will post it here. But don't make trading decisions based on this. Do due diligence, and look at earnings. FYI, interesting local story on CREE Asian sales growth: Asia makes Cree's upcoming year look as bright as its LEDs By DAVID RANII, Staff Writer RESEARCH TRIANGLE PARK -- Cree Research, whose stock has been on a roll since it released strong quarterly earnings two weeks ago, said it has received $17.1 million in new orders from customers in Asia. The news pushed Cree's stock up 75 cents to $27.438. Since the Research Triangle Park company announced after the market closed on Oct. 15 that its quarterly earnings doubled, its shares have risen 66 percent. Cree stock has jumped 155 percent since the end of August. The new orders for Cree's blue and green light-emitting diodes came from a blend of new and existing customers in Asia, said Neal Hunter, Cree's chairman and chief executive officer. He said a majority of the new contracts represent "revenue that wasn't coming from the region before." Also, a majority of orders are for shipments for the current fiscal year that ends in June. He declined to be more specific. The increased demand will challenge Cree's manufacturing prowess, Hunter said. He added: "If we had excess capacity right now, we could definitely sell it." Light-emitting diodes, or LEDs, are used as indicator lights and in electronic signs. Cree recently introduced a green LED and a brighter blue LED than its "superbright" version. "We have run out of adjectives," Hunter said. "But it is really bright." Hunter said that the stock's surging price is the confluence of several factors: the latest quarterly earnings handily beat analysts' estimates; small-cap stocks in general have rallied lately, and the stock was previously undervalued. Cree earned a profit of $2.4 million on revenue of $12.3 million for the quarter ended Sept. 27, up from a $1.2 million profit on revenue of $10.2 million a year ago. The 18-cents-per-share profits exceeded estimates by 4 cents per share.