What happened

Shares of Universal Display (NASDAQ:OLED) rose 94% in the first half of 2017, according to data from S&P Global Market Intelligence.

So what

The company is enjoying strong interest in its organic light-emitting diode technologies lately, which led to two excellent earnings reports along with strong guidance for the rest of fiscal year 2017.

Stock moving up

Stock moving higher. Image source: Getty Images.

Now what

Universal Display may not be done with this growth spurt quite yet. Rumor has it that Apple might make the upcoming iPhone 8 its first OLED-equipped smartphone, which would be a dramatic technology shift for Apple and a huge growth driver for Universal Display. Meanwhile, large-screen OLED television sets are working their way into the consumer-level mainstream, and that's actually an even more important growth vector for Universal Display.

Long story short, consumers are craving OLED screens and that keeps manufacturing lines busy across the OLED panel industry. That's great news for Universal Display and its shareholders, and it's high-quality organic growth to boot.

This is a great time to own Universal Display stock, but the company's best days still lie ahead.

Anders Bylund owns shares of Universal Display. The Motley Fool owns shares of and recommends both Apple and Universal Display. The Motley Fool has a disclosure policy.