Apple, Applied Optoelectronics, Universal Display Upgraded

Apple Inc. (AAPL), ​Applied Optoelectronics Inc (AAOI), and ​Universal Display Corporation (OLED) are winning support from Wall Street analysts

Feb 24, 2017 at 9:27 AM
facebook X logo linkedin


Analysts are weighing in on Dow stock Apple Inc. (NASDAQ:AAPL), fiber optics firm Applied Optoelectronics Inc (NASDAQ:AAOI), and lighting specialist Universal Display Corporation (NASDAQ:OLED). Here's a roundup of today's bullish brokerage notes on AAPL, AAOI, and OLED shares.

BMO Boosts Price Target on Apple Shares

BMO raised its price target on AAPL to $160 from $142, in record-high territory. The bullish note is well-deserved, considering the stock tapped a record peak of $137.48 yesterday, before settling at $136.53, and are already up 18% in 2017. Strangely, open interest on Apple Inc. is extremely put-skewed in the front three-months' series. The stock's Schaeffer's put/call open interest ratio (SOIR) of 1.04 outstrips 97% of comparable readings taken in the previous year. Ahead of the bell, AAPL is off 0.9%, as traders react to a viral video showing a smoking iPhone 7 Plus, reminiscent of recent problems with exploding Samsung smartphones -- a matter Apple says it is looking into.

Applied Optoelectronics Aims For Record Highs

AAOI is poised to gap 14% higher out of the gate, lifted by an earnings beat, as well as price-target hikes at Piper Jaffray and Raymond James. As a result, after closing Thursday at $37.47, the stock should take out its record high of $38.89 in morning trade. This could leave short sellers on the ropes. Nearly 14% of Applied Optoelectronics Inc's float is dedicated to short interest, which would take about four sessions to cover, at the stock's average daily trading volume.

Universal Display Prepares For Post-Earnings Pop

OLED is pointed 10.5% higher pre-market, and could hit a record high out of the chute, following an upbeat earnings report. Plus, Canaccord Genuity raised its price target to $65 from $49 -- though that's still a discount to yesterday's closing price at $67.45. Technically speaking, Universal Display Corporation shares have been on fire, adding over 19% year-to-date. An upside gap could force short sellers to start covering their positions. Specifically, 11% of OLED's float is sold short, translating into eight sessions' worth of pent-up buying activity, at typical daily volumes.

Get a jump-start on the day's stock market news with Schaeffer's free Opening View newsletter.
 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!