Amkor Technology (AMKR) reported its second-quarter results on July 27. By almost every measure, the quarter was a record. Revenue reached $1.90 billion, up roughly 26% from a year earlier. The company beat the high end of its own guidance. Earnings of $0.70 a share came in far ahead of the $0.48 that analysts expected. EBITDA of $400 million also comfortably beat the estimates. The growth came from computing and the automotive and industrial markets. Both of these achieved quarterly records on AI data center demand. Margins also widened for a clear reason. Over the past two quarters, average factory utilization climbed from the 50s into the 70s, with several platforms now even running at full capacity.

Despite such a strong performance, the stock fell 6.54% after the report. The reason was the outlook, not the quarter. Amkor guided third-quarter revenue to about $2 billion at the midpoint, just below Wall Street's $2.09 billion consensus. The outlook had another weak spot. Communications revenue is set to fall in the next quarter, with Android sales already down 20% due to memory supply constraints. The stock had more than doubled since late March, hitting a 52-week high of $96.68 on June 22. At that level, expectations were high enough that a soft guidance number was all it took.

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While the guidance miss has got the investors worried, Amkor's direction looks promising. Computing revenue is expected to jump nearly 30% next quarter as an AI data center CPU program ramps. Amkor signed a 10-year packaging agreement with TSMC (TSM) and a multi-year partnership with Nvidia (NVDA) during the first half. The company is also maintaining its 2026 capital spending plan of $2.5 billion to $3 billion, including the first phase of its Arizona campus. CEO Kevin Engel said the moves should strengthen Amkor's competitive position and earnings power. The market wanted more from the guidance. The business is still accelerating into the demand everyone is chasing.

About Amkor Technology Stock

Amkor is a Tempe, Arizona-based company that offers outsourced semiconductor packaging and testing services. The company's solutions support chips used across networking, smartphones, consumer electronics, automotive, AI, and data center applications. It serves major semiconductor manufacturers and foundries worldwide.