As LED Stocks Dim, I'm Booking Profits
Last night, the LED company Cree (CREE) shared March quarter results of $0.20 per share, slightly missing consensus expectations of $0.21 on revenue that was below Cree's forecasted range for the quarter.
While that is not a good thing in the current environment, Cree shares are down more because of management's weak outlook as well as the climb in days of inventory on hand. More specifically, management guided June quarter revenue to a range of $295 million to $315 million, after the $285 million it delivered in the March quarter. While that sequential growth is favorable, that guidance fell short of the $330 consensus forecast. ...323 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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