Exhibit 23.1

Consent of Independent Auditors

We consent to the incorporation by reference in the Registration Statements (Form S-8 Nos. 333-104863, 333-72774, 333-48830, 333-43490, 333-92479 and 33-98958) of Cree, Inc. of our report dated July 25, 2003, with respect to the consolidated financial statements of Cree, Inc. included in the Annual Report (Form 10-K) for the year ended June 29, 2003.

/s/  Ernst & Young LLP

Raleigh, North Carolina

September 24, 2003