Shares of OLED (organic light-emitting diode) display patent holder Universal Display (NASDAQ: OLED) were heating up again in 2023. Apple's (NASDAQ: AAPL) don't-call-it-VR headset, the Vision Pro makes use of two small ultra-high-definition OLED displays inside -- but that isn't the reason why.

You see, Universal Display has been developing next-gen materials for OLEDs for many years, and 2024 is the year those efforts start to come to fruition for shareholders. 

Universal Display (UDC from here on) is best known as a technology developer and patent holder for all sorts of technologies used in OLED display manufacturing. And via its manufacturing partners, UDC also sells the required OLED materials, specifically organic phosphorescent compounds that emit light when an electrical current is applied to them. The company's revenue is generally about 55% to 60% material sales, and the remaining patent licensing, to display manufacturing partners led by Samsung and LG Display.

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Source Fool.com