Can Universal Display Buck China Concerns With Its Q4 Report?
Universal Display (NASDAQ: OLED) is slated to release fourth-quarter 2019 results after the bell today (Thursday, February 20). But with shares of the promising tech stock down 16% so far this year, it seems the market has already braced for bad news when its press release hits the wires.
It certainly didn't help that some traders were anxious to take profits off the table after Universal Display stock more than doubled in 2019 -- a rise driven by what Chief Financial Officer Sid Rosenblatt described last quarter as "the proliferation of OLEDs across the consumer electronics spectrum ... fueling a tremendous multiyear capex cycle."
Even so, the bulk of Universal Display's recent drop came last month, as industry watchers began to fret over the fallout of China's coronavirus outbreak. In particular, those concerns stem from the potential for constrained demand for the company's flagship phosphorescent OLED emitter materials bound for display manufacturers in the Middle Kingdom.
Source Fool.com
