UBS analyst Stephen Chin upgraded Applied Materials (AMAT) to Buy saying he is more confident regarding the OLED investment cycle following company meetings in Korea.
The analyst now believes one of Apple's (AAPL) iPhone models could use OLED as early as the second half of 2017, before likely wider adoption in 2018. Chin raised his estimates for Applied Materials' Display segment and now estimates the company could have 20% share of an $8B market.
A big order for its equipment could be a positive catalyst and happen later this year, the analyst tells investors in a research note. He raised his price target for Applied Materials to $26 from $21. The stock closed yesterday up 38c to $21.31.
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