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One of the best purchases for my somewhat new place was an OLED TV. If you aren’t familiar with the technology, OLED, or Organic Light Emitting Diode, emits light when electricity is applied through it, and does not require backlighting.

This allows displays made with this technology to be thin and flexible, and it gives a huge contrast ratio including blacker blacks and whiter whites, relative to many other types of displays. The TV looks great!

But from an investment perspective, this technology is sweeping not only across TVs, but various other devices in the tech world such as phones and computer screens. And the company behind much of this technology, Universal Display Corporation ((OLED - Free Report) ), is looking like an especially intriguing investment these days.

OLED Stock in Focus

In the company’s most recent earnings report, the company easily beat expectations, and actually posted a pretty incredible beat. The stock was expected to see earnings of one cent per share and actually posted 22 cents per share instead. The firm also said there was building ‘ momentum’ for products using OLED displays, so guidance is looking pretty promising as well.

Thanks to this strength, analysts have been raising their estimates for OLED stock, pretty much across the board. In fact, we haven’t seen any estimate cuts in the past sixty days to the current quarter, current year, or next year consensus. We have actually seen a surging consensus for the full year as analysts clearly believe in the momentum too. The company’s consensus has moved higher by about 27% in the past month, while we are seeing a seven percent increase for the following year.

There is a lot to like about the story in the OLED market these days, and that is further backed up by the impressive industry and sector rank for the stock. Shares have a top 40% rank for both the industry and the sector, while Universal Display Corporation has a Zacks Rank #1 (Strong Buy) rating itself.

Bottom Line

With a strong industry, great technology, and surging demand, it is easy to see why Universal Display Corporation is an impressive stock to consider this summer. It is coming off an incredible earnings beat and the wind is clearly at the company’s back.

It also doesn’t hurt that a number of other device makers are looking to apply this technology, and it also helps that OLEDs are arguably so much better—at least thinner, more energy efficient, and with a better contrast ratio—too. And with the company just recently surging to a #1 Rank, now could be just the time to give the stock a closer look.

 

Will You Make a Fortune on the Shift to Electric Cars?

Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It's not the one you think.

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