Why Universal Display Inc. Shares Rose 10.4% in July

Why Universal Display Inc. Shares Rose 10.4% in July

Shares of Universal Display (NASDAQ: OLED) gained 10.4% in July, according to data from S&P Global Market Intelligence.

The OLED technology researcher and license wrangler didn't have much news of its own to share last month, but the stock jumped every time Apple (NASDAQ: AAPL) sneezed in the general direction of OLED-equipped iPhones.

The smartphone titan from Cupertino has never used organic light-emitting diode screens in iPhones or iPads before, limiting its use of that technology to the Apple Watch product line. If the full line of iPhone 8 models turns out to have OLED screens, as rumor had it at several points in July, that would be a strong growth driver for Universal Display's top line.

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Source: Fool.com