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http://messages.yahoo.com/bbs?.mm=FN&action=m&board=4687828&tid=cree&sid=4687828&mid=38108


Everyone should email CNBC to have them correct the error of their reporting.
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Fortunate or not, what is stated in the post on Yahoo! is essentially correct.

When asked about gross margins, Cynthia Merrill stated that while they were 55% this quarter just ended, she was not changing her guidance for analyst modeling and advised them that they should continue to use the low to mid 50% guidance for gross margins.

While I suspect that CREE is simply being conservative because they do not know what the effect of the new Ultra-Brite LEDs is going to have on ASP, the statement by CNBC is essentially straight from the conference call.

ZaksDad
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The devil is in the details. As that post correctly states, there is no change in guidance on margins. They have said low to mid 50's and they continue to say low to mid-50's.

Nothing has changed. No lowering of expectations on margins. All they said was that they won't neccessarily meet this quarter's upside surprise. That isn't negative. All they've said is nothing's changed on the margin front going forward. No downward revisions in estimates. Any characterization otherwise is incorrect.
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Look, the news is not necessarily inaccurate, although it may have been presented as a negative surprise.

What you gonna do?

How about 360 more shares @ $78 :)

We can't control the news. All we can do is understand it, no more than the market, and take advantage while we can.

I don't know how long the market is gonna be this irrationally panicked, as irrationally panicked as we were enthused last year, except probably even farther on the downside than we were on the upside last year. But it won't be this way forever.

So I'll load up in the interim.

Tinker
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This is outrageously irresponsible:

CREE 87.50 down 7.56 after they reported 34c for 2c ahead and versus 14c last year. They warned market not to expect that much in the future. Whisper is N/A.

http://netcog.com/ArticleView.asp?ArticleID=74188
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This is outrageously irresponsible:

>>>CREE 87.50 down 7.56 after they reported 34c for 2c ahead and versus 14c last year. They warned market not to expect that much in the future. Whisper is N/A.<<<


That may be the worst thing I've ever seen! I couldn't access the link without registering, but I won't bother.

orangeblood
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Essentially nothing has changed. Cree wants to keep things in perspective. While many of us expect them to do well and exceed the low 50's, it is always better to be conservative in these projections. It has a dual benefit. Should Cree exceed those numbers, everyone is thrilled. If it meets those nubers there is not so much disappointment.

In the Henny Penny/Chicken Little approach to investing, a major drop in price has allowed me to purchase more Cree this morning.

Cheers..English
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