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LED demand leads to Cree share increase

Shares in Cree have risen following a surge in demand for LED products.
A growth in demand for light-emitting diodes (LEDs) has resulted in an upsurge in the value of shares for LED manufacturer Cree.

Shares in the company rose by 8.48 per cent yesterday (April 5th) to stand at a new 52-week high of $77.07 (£50.79).

An analyst for UBS stated that the forecast general lighting compound annual growth rate has increased from 40 per cent to 56 per cent during the course of the year so far for firms in Asia and, as such, prompted this growth in value.

"Our global LED team raised its demand estimate 33 per cent for general lighting LEDs to 9.7 billion sq mm in 2011 - from 7.3 billion previously - given an increasing focus on lighting from LED companies we visited on our tour of LED companies in Asia," the unnamed analyst commented.

Cree s products include LED fixtures and bulbs, high-brightness LEDs, power-switching devices and radio-frequency/wireless services.
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