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Amkor Technology Shares Rally After Strong Q2 Results and Optimistic Q3 Sales Guidance

Management predicts flat-to-6% sales growth in the third quarter on sustained AI and HPC demand, prompting analysts to lift price targets.

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Overview

  • Amkor reported second-quarter GAAP EPS of $0.22 and revenue of $1.51 billion, beating consensus estimates of $0.16 per share and $1.42 billion in sales.
  • CEO Giel Rutten highlighted sequential revenue growth of 14% and double-digit expansion across AI, HPC, 5G and automotive markets.
  • For the third quarter, Amkor sees GAAP EPS of $0.34–$0.48 and revenue of $1.875–$1.975 billion, implying flat-to-6% year-over-year sales growth.
  • Shares jumped roughly 18% to about $25 on July 29, marking one of the largest one-day gains this year.
  • Needham, Morgan Stanley and JP Morgan analysts raised their price targets to between $20 and $28 in response to the upbeat results and guidance.