OLED related names rally after Applied Materials says in 'early innings'

Shares of organic light-emitting diode, or OLED, related companies are rallying after Applied Materials (AMAT) made positive comments about the OLED market on its second quarter earnings conference call. OLEDs are used to create digital displays in devices such as television screens, computer monitors, portable systems such as mobile phones and tablets. WHAT'S NEW: On its Q2 earnings conference call, Applied said the major technology inflection points taking place require materials innovation. "We estimate that our opportunity in OLED is more than three times larger than for traditional LCD. I believe we're still in the very early innings of OLED, but we're already seeing a significant impact on our business," said Applied Materials CEO Gary Dickerson. Shares of companies exposed to the OLED display market include Universal Display (OLED), LG Display (LPL), AU Optronics (AUO), and Coherent (COHR). PRICE ACTION: In afternoon trading, shares of Universal Display and LG Display are up around 6%, AU Optronics is higher by almost 4%, and Coherent is rallying over 2%.