Technology sector specialist Mark Mowrey sees upside in two stocks poised to benefit from increased LCD TV sales. Here, the editor of The Prudent Speculator TechValue Report looks at AU Optronics (NYSE: AUO) and Corning (NYSE: GLW).

"Showing big gains in the world of video, LCD TV panel maker AU Optronics reported revenue of $4.5 billion in its first quarter, marking a 12.1% quarter-over-quarter decline that seemed to square with normal seasonality, even as it was negatively affected by the weaker U.S. dollar.

"Earnings thus came in at $1.12 per U.S. ADR, vastly improved from the loss of $0.02 per ADR in the same quarter last year. Looking forward, management says sales of TVs yet have not been impacted by the slowdown, though they are cautiously watching the markets for signs of weakness.

"Pleased with the positive report, we remain buyers of the shares, which trade at just about 6 times the consensus average for earnings per ADR now showing on Reuters Estimates.

"Meanwhile, Corning benefits to a certain extent no matter which panel maker is doing well, as it's one of the few manufacturers able to fabricate the glass screens the sets contain.

"Latest quarter earnings beat the consensus average then showing on Reuters Estimates by a penny, coming in at $0.40 per share on revenue of $1.6 billion. And current-quarter guidance calls for EPS of $0.47 to $0.50 on $1.71 to $1.75 billion in revenue.

"Both ranges were well above Street estimates at the time. Heading into the Olympics and the presidential election, both of which should add another layer to already strong flat panel TV demand, we remain bullish on GLW."

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