Don't Underestimate Universal Display's New LG Chem Partnership
September's been a rough month for Universal Display (NASDAQ: OLED) investors so far. Even as the broader indexes rallied to near all-time highs, shares of the OLED technologist have pulled back a whopping 23% from their own high mark set on Sept. 6.
We should keep in mind the stock is still up an enviable 95% over the past year as of this writing. And more than anything, this drop seems to mark a natural correction fueled by a broader sell-off in high-flying tech stocks, as well as a downgrade last week from analysts at Susquehanna (who worried that Universal Display's lofty share price already reflected their "best case" earnings scenario).
Still, I don't think shareholders should take the move as an indication of weakness in Universal Display's underlying business.
Source Fool.com
