This Portfolio Holding Was the Real Winner at Apple's iPad Event
We continue to see June’s WWDC as the main AI event for Apple.
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* Apple’s iPad event was a non-event given build-up chatter and modest AI developments
* The real winner of today’s Apple event – Universal Display
* We continue to see June’s WWDC as the main AI event for Apple
* We are sticking to our plan for AAPL shares
Apple AAPL has concluded its iPad event and the cut to the quick comment is it was largely in line with what was in the build-up chatter - new iPad Air and Pro models and the introduction of Apple’s M4 chip. The company did showcase some AI features and tout how the M4 is well positioned for AI, but those looking for more than that were left disappointed.
With the conclusion of the event, that lack of meaningful revelation, or disappointment for some, has let some of the air out of AAPL shares compared to where they were earlier today. We continue to see the upcoming WWDC event that begins on June 10 as the real “take the wraps” off event for Apple’s AI efforts across its various platforms and especially for iPhone.
Between now and then, we’ll look for opportunities to increase the portfolio’s AAPL exposure. We’ll continue to watch the $180-$181 line but note the gap in the shares near $173.
If we had to call out a winner of Apple’s event it would be Universal Display OLED. Not only did Apple confirm its new iPad Pro models will utilize organic light-emitting diode displays, but Apple also shared each tablet will have two per device to achieve what it called a tandem OLED display quality. That means double the Apple demand for organic light-emitting diode displays from these devices.
And if history repeats itself, we are likely to see others in the tablet space make a similar move to offer similar display and brightness dynamics. This revelation supports our recent price increase for OLED shares, while the expected competitor response should confirm our view that organic light-emitting diodes displays are poised to expand beyond the smartphone.
At the time of publication, TheStreet Pro Portfolio was long AAPL, OLED.
