Apple Confirms a Key Move That Supports Why We Own This Other Stock
Next up, pay attention to quarterly results from LG Display and Samsung.
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Amid all the renewed enthusiasm for AI chip demand, we didn’t want this piece of news to slip by. We’re referring to multiple reports that Apple (AAPL) is preparing major changes to its MacBook Air, iPad mini, and iPad Air lines, with a plan to give the devices organic light-emitting diode displays. This comes from closely followed Apple watcher, Mark Gurman, over at Bloomberg. The revamped iPad Mini is expected to come first next year, with the MacBook Pro slotted to follow with its next redesign.
While this isn’t likely to be a quick transition, it continues Apple’s ongoing shift to that display technology that started in 2017 with the iPhone X. Earlier this year, Apple completed the iPhone transition to organic light-emitting diode displays, and as more industry capacity for that display technology comes on stream, it will do the same with its other products. As we have seen in the past, this will likely accelerate the larger industry transition that has already begun.
As we see it, this bit of Apple news supports the multi-year demand ramp for Universal Display (OLED) and keeps us bullish on OLED shares despite the stock price chop over the last several weeks. The next set of catalysts we’ll be watching for OLED shares will be quarterly earnings from LG Display (LPL), Samsung (SSNLF) , and Apple on October 30. Those results and guidance will re-set expectations for Universal Display's September-quarter earnings due next week.
At the time of publication, TheStreet Pro Portfolio was long AAPL and OLED.
