According to Barrons, the top tier LED stocks which include Cree Inc (CREE), Veeco Instruments (VECO) and Aixtron (AIXG) are getting hit today after a downgrade this morning from Avian Securities. The firm downgraded both AIXG and VECO to Neutral from Positive citing higher inventories, weaker consumer spending in China and utilization cuts at LCD makers. These stocks are down from 6 – 9% today, VECO getting hit the hardest. For those looking to get into LED stocks, this is a positive development because at some point you’ll have an opportunity to pick these up at a discount. Patience is the best course of action right now though because technically these stocks remain unhealthy.
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avian must be short many shares of cree they did a good job today. leta all applaud them their should be an investgation on this ?????