LED Stocks Under Pressure On Fears
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In the LED space, Cree Inc. (Nasdaq: CREE), Veeco Instruments Inc. (Nasdaq: VECO) and Aixtron Aktiengesellschaft (Nasdaq: AIXG) are under pressure on reports from the Commercial Times earlier that some Taiwanese LED makers are getting fewer orders.
In addition, analysts at Lazard Capital Markets said it has learned that Micron (NYSE: MU) has ordered MOCVD tools from VECO as it tries to enter the LED market.
Shares of CREE are down 4 percent, VECO is down 11 percent and AIXG is down 7 percent.
Analysts at Citigroup reiterated their Buy rating on Veeco today, shrugging off the news.
In addition, analysts at Lazard Capital Markets said it has learned that Micron (NYSE: MU) has ordered MOCVD tools from VECO as it tries to enter the LED market.
Shares of CREE are down 4 percent, VECO is down 11 percent and AIXG is down 7 percent.
Analysts at Citigroup reiterated their Buy rating on Veeco today, shrugging off the news.
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