The growth rate of mobile phones, PCs and other products seems to have suddenly slowed down, and this trend will affect chip makers. Now, hot market LEDs have slowed down.
Based on the results announced by Cree this week, analysts are worried about the LED industry. Cree hinted that general lighting demand is still strong and channel inventory is good. However, the weakening demand for LED TVs, as well as seasonal factors in Europe, are affecting the industry's September quarter growth prospects, said Raymond James & Associates analyst Hans Mosesmann.
The current question is whether the LED display market suddenly slows down for a quarter or quarters? More importantly, is Cree's general lighting market for LED sales not affected by the weak performance of the display market? Our view is that the display market will face oversupply for several consecutive quarters due to China's subsidies for LED equipment production and South Korea's Samsung's ability to produce self-sufficiency in the production of LED TVs. He said.
In the general lighting market, we also believe that these markets have significantly different design dynamics from the LEDs used in the display market. However, considering that we believe that Cree's sales in Asia (excluding Japan) may account for more than 60%, we believe that the prospect of LED oversupply will weigh on Cree's general lighting LED market, he added.
LED device and product specialist Cree announced this week that its fiscal fourth quarter fiscal year revenue reached $264.6 million, the highest level of record, up 79% from the fourth quarter of last year and 13 more than the third quarter of this year. %. Its fourth quarter ended on June 27, 2010.
According to GAAP, net income for the fourth quarter increased by 445% year-on-year to $52.8 million, and diluted earnings per share were $0.48. The fourth quarter of fiscal 2009 was $9.7 million and $0.11, respectively.
Cree announced that its fiscal year 2010 revenue was $867.3 million, a 53% increase from the $567.3 million in the same period last year. Net income calculated under GAAP was $152.3 million, diluted earnings per share were $1.45, and fiscal year 2009 was $30.3 million and $0.34, respectively.
Fiscal 2010 is an extraordinary year for Cree and the LED lighting revolution, Cree Chairman and CEO Chuck Swoboda said in a statement.
In the first quarter of fiscal year 2011, which ended September 26, 2010, Cree plans to achieve revenues of $2.7-2.8 billion, and GAAP net income of $52-56 million, or diluted earnings per share of $0.48-0.51. .
The LED market is growing at a slower pace. Taiwan's ODMs also have weak sales and inventory problems, reflecting the overall IC market.
On August 10th, a Wall Street analyst lowered his estimate of Intel's 2010 revenue and profit, saying that the Taiwan PC supply chain showed a sharp deterioration in orders from the PC terminal market in the second half of July.
According to a preliminary analysis of inventory in the second quarter by an analyst on Wall Street, the overall IC supply chain inventory increased by 10% in the second quarter compared with the first quarter, which is worrying that the semiconductor gross profit margin will face downward pressure and future operating income will be Will decline.
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