12 Best Virtual Reality Stocks to Buy According to Analysts

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6. Universal Display Corporation (NASDAQ:OLED)

Analyst Upside: 31.90%

Number of Hedge Fund Holders: 30

Universal Display Corporation (NASDAQ:OLED) researches, develops, and commercializes organic light-emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. OLED displays are employed in VR and AR markets, along with various other industries. The company licenses its proprietary OLED technologies to manufacturers of products for display applications, including mobile phones, wearables, tablets, notebooks and televisions, and specialty and general lighting products. The company’s additional OLED technologies include FOLED Flexible OLEDs and OVJP Organic Vapor Jet Printing.

OLED technology plays a pivotal role in powering VR products. The company’s proprietary technologies and materials are found in virtually every commercial OLED product, ranging from smartwatches and tablets to smartphones and TVs, including Samsung’s Galaxy series and LG’s OLED TVs. OLED technology is also used in Sony’s PlayStation VR2 and the Apple Vision Pro.

Universal Display Corporation (NASDAQ:OLED) reported strong results for 2024, a growth year for the company. It reported $648 million in revenue and $222 million in net income for the year and is expected to continue its growth trajectory in the future. According to Omdia Research, the OLED market growth is anticipated to grow significantly over the next five years. After reaching more than 50% of the smartphone market in 2024, OLED smartphone displays are expected to grow from 784 million units to 952 million units in 2029.

In addition, OLED IT displays are anticipated to nearly quadruple between 2024 and 2029, going from 20.2 million units to 77.6 million units between the forecast period. Experts estimate these trends to be tailwinds for Universal Display Corporation (NASDAQ:OLED), ranking it among the best virtual reality stocks to buy according to analysts.

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