This one looks really good. Bought some on Tuesday.

There's a good chance LEDs of some form will completely replace incandescent bulbs in the next 10 years. CREE is the market leader in terms of technology, and they'll be the ones to make LEDs bright enough and cheap enough for the consumer market. Until that day, they've still managed to keep market share and stay profitable in a commodity business, competing against low-cost East Asian manufacturers. IMO that really demonstrates the company's capabilities.

Seriously, with their growth prospects, this company should be trading at a 40 P/E. It is stupid cheap right now. I see very little downside and potentially huge gains.