Fundamentals eventually matter. Grossly over priced. Ok, grossly is an exaggeration. But with 2014 estimates being good not great, this is over priced.
What is going to happen when competition drives the price of 60W LEDs to $6? Margin will collapse.
"What is going to happen when competition drives the price of 60W LEDs to $6?"
Sales will go up.
True, but when light bulbs become commodity priced again, margins will matter even if revenue does increase. At the current PE, CREE needs both revenue and margin increases above what they just announced