$$OLED earnings beat, but lowers forecast

OLED down about 16% on volume 400% higher than average. Falls below 200dma. Nobody likes that.


…late Thursday reported better-than-expected December-quarter results, but guided to 2018 sales well below views. Universal Display expects revenue in the range of $350 million to $380 million this year, vs. Wall Street expectations for $400 million.

Chief Executive Steve Abramson said OLED manufacturing growth will “take a bit of a breather this year” as companies gear up for 2019 product cycles.

“In the consumer electronics landscape, from small screens to large screens, the adoption of bright, beautiful, brilliant OLED technology continues to grow,” Abramson said. New products include Apple’s (AAPL) iPhone X, Samsung’s upcoming Galaxy S9 smartphone and big-screen OLED televisions from LG Electronics, he said.

“The increasing pipeline of customers’ activity is indicative of the OLED industry’s momentum from expanding OLED development and commercial activity to new OLED capacity plans,” he said.

“We believe a pullback in reaction to the guidance will provide investors looking out to 2019 with an attractive entry point,” Ricchiuti [analyst] said in a report Friday.

this could be a good breather that lets us continue an evaluation and start accumulating. Long term I think this has huge potential, short term let’s hope it trends sideways for a few months, but bounces above the 200dma at the same time.

(I have been long quite awhile, but it still hurts)