Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications.
Universal Display Corp is probably best known for being the OLED screen in the iPhone X and all three of Apple’s 2019 iPhone models.
Despite slumping iPhone sales, Universal Display Corp. recently announced earnings this past week of $0.40 / share on sales of $70.1 million in the December quarter. Analysts expected Universal Display earnings of $0.34 cents / share on sales of $70 million. On the news the stock price rose 23%.
But how could this be when Apple announced they would no longer announce iPhone sales during their quarterly reports, a sign of slumping iPhone units. Simply put, OLED uses an organic substance that glows when an electric current is introduced. The material reduces the thickness and weight of the devices, creating an ultra-thin, sleek form and superior color reproduction.Â
And the company has stated that a diversifying list of panel manufacturers entering commercial OLED production, and a broadening landscape of consumer OLED end products in 2018 has positioned the OLED industry for what is anticipated to be its next wave of growth.
So does the stock price have more upside, according to the weekly chart, the chart suggests price can move another $15 before running into sellers between the $160 and $170 level (the red dashed lines).
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
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