Stands for "Thin Film Transistor." These transistors are used in high-quality flat panel liquid-crystal displays (LCDs). TFT-based displays have a transistor for each pixel on the screen. This allows the electrical current that illuminates the display to be turned on and off at a faster rate, which makes the display brighter and shows motion smoother. LCDs that use TFT technology are called "active-matrix" displays, which are higher-quality than older "passive-matrix" displays. So if you ever see a TFTAMLCD monitor at your local computer store, it is a "thin-film transistor active-matrix liquid crystal display." Basically, it is a high-quality flat screen monitor.
TFT is one of the best Liquid Cristal Display technologies in terms of image quality and response time. However, it also consumes more power and is more expensive.