“Shares of organic light-emitting diode technology maker Universal Display (OLED) are higher by $4.30, or almost 8%, at $60.71, after Goldman Sachs’s Brian Lee this morning raised his rating on the shares to Buy from Neutral, and hiked his price target to $76 from $55, writing that the company will benefit as Apple begins use of organic LED technology in the iPhone for the first time next year,” Tiernan Ray reports for Barron’s.
“‘We expect OLED to be a key beneficiary of Apple’s first-time adoption of OLED displays for iPhone starting in 2017,’ writes Lee, opining that there could be a ‘hockey-stick’ style of increase in OLED use in the phone industry in later years,” Ray reports. “Lee believes Universal can make as much as $15 per annum in a ‘blue sky’ scenario in which OLED spreads beyond just phone use to ‘larger-scale displays.’ That would include tablet computes and television sets.”
Ray reports, “Apple shares today are up $1.68, or 1.8%, at $96.90, following a report overnight from Taiwan’s Economic Daily saying Apple has asked its suppliers to produce 72 to 78 million new iPhones by the end of the year, the highest production target in about two years.”
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Apple suppliers gear up to deliver OLED to 2017 iPhone – May 23, 2016