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Technology Stocks : Cree Inc.

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To: slacker711 who wrote (10431)8/31/2021 7:11:51 AM
From: slacker711  Read Replies (1) of 10526
Cree Q1 2021 Earnings October 2020

Wolfspeed $116m in revs
Driven by “continued demand” in power and some improvement in RF and Materials
Gross margin 36.6%
Increase in GM driven by cost and yield improvements in RF and power offset by lower material utilization
Capex remains $400m (net)
Guidance of $118 to $124m driven by power. RF and materials with modest improvements.
GM 37%-39%
$700m in design ins


>60% of $700m design ins for automotive
RF dominated by China. No Huawei revs
Roughly 50/50 split between devices and materials. Expect faster growth in devices through ‘24. Won’t be smooth fits and starts depending on timing in each business
Automotive less than 10% and true in FQ1 ‘20 as well
Engaged with all non-Huawei RF. “Got some wins”
Design-ins go to design wins when production starts.
Very good aerospace and defense business. “Pretty good portion” of RF
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