This Little-Known Semiconductor Dividend Stock Is Up Nearly 40% So Far This Year -- Is It Too Late to Buy?
Amid a nasty downturn for the smartphone market, Universal Display (NASDAQ: OLED) is holding its own. The patent holder on ultra-high-def OLED displays and seller of OLED base materials reported revenue of $130 million in the first quarter of 2023, down 13% year over year. Not bad, considering other companies heavily reliant on smartphone sales (like Qualcomm, for example) reported far worse results.
Despite the current situation, Universal Display (UDC from here on out) stock has rallied nearly 40% so far in 2023. What's going on, and is it too late to buy?
UDC's small OLED technology empire started hitting speed bumps in 2022 as consumer purchasing of smartphones started to decline from the early pandemic boom and the initial 5G mobile upgrade cycle. Smartphones and tablets, especially top-dollar models, currently are the most prolific users of OLED. Smartphone shipments fell about 11% in 2022 and are expected to fall another 1% in 2023, according to researcher IDC.
Source Fool.com
