You may have heard the rumors that Apple Inc. (AAPL) - Get Apple Inc. (AAPL) Report is looking to utilize OLED screens in at least one of its upcoming iPhone models, to be debuted later next month. Samsung (SSNLF) is already a big user of OLED screens on its devices, so Apple's move wouldn't be all that surprising.

This trend toward OLED screens is one reason Deutsche Bank analyst Sidney Ho initiated shares of Universal Display (OLED) - Get Universal Display Corporation Report with a buy rating and $135 price target, TheStreet's founder Jim Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, pointed out on CNBC's "Stop Trading" segment Tuesday.

OLED stock is no secret to Wall Street, as shares have soared more than 100% over the past 12-months. On Tuesday alone, shares are up 10%. Even after the big move, Ho's price target implies more than 10% upside.

Apple is a holding in Jim Cramer'sAction Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL?Learn more now.

Something else Cramer found interesting about OLED stock? While the company may be involved in one of the hottest trends in smartphones, its stock happens to have a massive short interest. The bears have sold a ton of OLED stock, with 38% of the float held short.

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Universal Display also happens to have a relatively small float, too, making the days-to-cover ratio a ridiculous 23 days. That could cause shares to go even higher if shorts continue to bail and lick their wounds. This could definitely squeeze the shorts, Cramer said.

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At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.