The technician verified that the LCD was indeed bad. I took my iMac into the Apple store at Fashion Island in Newport Beach, CA just now and I wanted to update this thread. Seems parts such as the video card or LCD are hard to find in the states. I also posted on Apple forums too to see what people say. This is very disappointing and my confidence in Apple computers has gone down. Any word of Apple good-willing these types of repairs? I have been a very loyal Apple user for a period of years now. I'm also considering taking it into Apple but I have a feeling they will tell me to kick rocks as my warranty is up. If I do, then I can rule out my video card. I purchased a Thunderbolt to HDMI cable and I plan to hook the iMac up to my Plasma and see if I get video. I've scoured the entire internet and nobody seems to have had this problem on this new of an iMac. I've been a PC builder and user for years and I thought I'd absolutely have a rock solid high end professional bulletproof computer when buying my iMac. Very disappointing for something so new and so expensive.

I've done several restarts, holding down command + option + P + R, and nothing works. Upon waking it up, the vertical and horizontal lines on the entire screen came back again. I put the Mac to sleep for a few hours as I normally do when I'm done using it. The screen came back to life after a few seconds. Absolutely nothing on the screen was legible. Yesterday my screen displayed vertical and horizontal lines. Usage is light-to-medium for photo editing and web browsing. It's fully loaded with i7, 4GB DDR GTX 780M, 16GB ram, etc. I purchased a brand new Apple iMac (Late 2013) 27' iMac from Apple in August of 2013.

Imac 27 late 2013