Applied Materials Capable of Sourcing 100 M Apple iPhones

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A UBS analyst projected Applied Materials is capable of sourcing 100 million Apple iPhone screen, as the Cupertino based company pushes for OLED devices.

Goldman Sachs analyst Toshiya Hari raised his price target for Applied Materials stock from 25 to 27, and kept a buy rating. He backed the move noting the company’s OLED and 3D NAND (flash memory) push and Chinese business could drive earnings per share, while deducting items to $1.81 and $2.10 for fiscal year 2016 and 2017.

UBS analyst Stephen Chin estimates Applied Materials will bolster its EPS by 80 cents annually, assuming the TV market similar to the smartphone market will also adopt OLED screens. These screens will be featured in Apple iPhone 8 by fall of 2017.

Apple only uses OLEDs in its Apple Watch.

Chin’s rating for Applied Materials is a buy rating and has given the company a price target of US $28.50.

He went on to project Applied Materials could produce 33 million OLED screens for iPhones per month.

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