NEW YORK, NY -- (Marketwire) -- 10/23/12 -- The Light Emitting Diode (LED) industry is witnessing tremendous growth of late as governments and businesses look for ways to reduce energy consumption. LEDs have been gaining popularity in the street lighting market due to their energy and cost benefits. Five Star Equities examines the outlook on the LED Industry stocks and provides equity research on Cree, Inc. (NASDAQ: CREE) and Rubicon Technology, Inc. (NASDAQ: RBCN).
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According to a recent report from Pike Research the number of LED street light shipments is expected to rise rapidly from just 3 million in 2012 to over 17 million in 2020. Although LEDs costs more than traditional lighting they have a longer lifespan and a far lower rate of failure.
"LED lamps allow for better dimming control than standard street lights, and their electronics allow for easy integration of control nodes," says Pike Research's senior analyst Eric Woods. "Rising sales of LED lamps will therefore drive up the adoption of smart street lighting systems, which promise to bring new levels of control and efficiency to the illumination of our cities, communities, highways, and public spaces."
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Cree is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor products for power and radio-frequency applications. Shares of the company surged over 10 percent last week after reporting fiscal first quarter earnings that topped estimates. Cree earlier this month introduced the commercial availability of new high-performance LEDs to help accelerate the adoption of LED lighting.
Rubicon Technology is an advanced electronic materials provider that is engaged in developing, manufacturing and selling monocrystalline sapphire and other crystalline products for LEDs and other applications. The company is scheduled to release their third quarter financial results on November 6, 2012. Rubicon in August announced their Large-Area Net-shape Crystal Extraction project designed to manufacture large optical-grade windows for military sensing applications.
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