Share price of LED makers tumbles due to concerns of poor demand

As fears of weakening demand for equipment such as LCD screens that use the LED bulbs, Cree closed down 8.1% to $50.18, Veeco fell 8.3% to $33.44 and Aixtron AG was 5.3% lower at $24.78.

Cree and Veeco share prices are unchanged while Aixtron is down to $24.72 in recent late trading.

Some analysts believed it is related to the combination of poor demand for LEDs and the products that use them, oversupply of the bulbs and a slowdown in the influential Asian LED market for the tumble.

Concerns over demand for LEDs have surfaced before, with shares of Veeco, Aixtron and Cree suffering from a similar bout of weakness last month.

In addition, according to a report by a Taiwanese newspaper, makers of flat screens were cutting orders to LED makers.

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