Veeco (VECO -7.7%) and Aixtron (AIXG -5.6%) get hammered after Digitimes reports the companies...

|About: Veeco Instruments Inc. (VECO)|By:, SA News Editor

Veeco (VECO -7.7%) and Aixtron (AIXG -5.6%) get hammered after Digitimes reports the companies slashed prices for single-wafer MOCVD LED manufacturing systems to ~$1.4M from ~$2M, and 30%-40% for multi-wafer systems, due to Chinese competition. The companies have already been struggling with weak equipment demand on account of overcapacity: Digitimes Research estimates MOCVD shipments will fall 46% this year to 148; Veeco is seen shipping 89 of them, and Aixtron 53. Cree (CREE -3.7%) and GT Advanced (GTAT -4.2%) are also selling off.