Why Universal Display Corporation Gained 13.7% in October

Shares of Universal Display Corporation (NASDAQ: OLED) gained 13.7% in October according to data provided by S&P Global Market Intelligence. The company supplies screen technology for Apple (NASDAQ: AAPL) devices and saw its shares climb in the lead up to and opening of pre-order sales for the iPhone X.

Image source: Universal Display Corporation.

Universal Display's stock has posted big gains in 2017 thanks to strong earnings performance and a promising outlook for its organic light-emitting diode (OLED) screen technology. The company's share price momentum continued in October and accelerated toward the end of the month in relation to a key product launch from Apple. The iPhone X went on pre-order sale on October 27, and shares of Universal Display posted a nearly 8% gain from that date to October 31 following indications of strong demand for Apple's latest handset.

Source: Fool.com