NEW YORK, May 26, 2026, 09:06 EDT
Amkor Technology shares moved higher in premarket trade Tuesday as money flowed back into a semiconductor packaging name exposed to AI hardware spending. AMKR traded at $71.46 as of 9:00 a.m. ET, up $5.71, or 8.68%, from its last close of $65.75.
Amkor’s push into advanced packaging comes as the company looks to make the segment a bigger part of its profits. Advanced packaging, where several chips are combined in one high-performance unit, has turned into a choke point for current data-center chips. “We’re moving up the value chain,” CEO Kevin Engel told Reuters about the newly revealed work with Advanced Micro Devices. Reuters
The stock traded in premarket hours, not in the normal session. Nasdaq opens its cash market at 9:30 a.m. Eastern, with premarket trading listed from 4:00 a.m. to 9:30 a.m. U.S. markets were closed Monday, May 25, for Memorial Day, according to the exchange.
Chip stocks gave a lift early. Reuters said U.S. index futures rose before the bell, with Nasdaq 100 futures trading 1.09% higher at 8:06 a.m. ET. Marvell Technology, Micron, and Qualcomm all moved up in premarket deals. “Cautious optimism,” is how Art Hogan, chief market strategist at B Riley Wealth, put it. Reuters
Amkor’s investor-day filing put some numbers out for investors. The company is aiming for about $9 billion in revenue in 2028, give or take $500 million, and looking at $11 billion or more by 2030. Amkor also set a gross margin target at 22% or higher and EPS at $5.00 or above. The SEC-filed presentation included customer quotes: Apple COO Sabih Khan called Amkor “a critical partner,” Nvidia EVP Debora Shoquist said the work would “advance the future of AI,” and TSMC executive Kevin Zhang said teaming up in Arizona “extends this partnership to the United States.” SEC
Amkor’s most recent earnings lifted the bulls. The company posted Q1 net sales of $1.685 billion, a 27% gain from last year. Net income came in at $83 million, with diluted EPS at 33 cents. Engel said the quarter saw “record first quarter revenue driven by broad-based end market demand.” Amkor Technology
Wall Street hasn’t lined up on one side. According to StockAnalysis.com, which cites S&P Global Market Intelligence, there are 10 analysts with a consensus Buy and an average $75.50 target. Needham’s Charles Shi kept his Buy and $90 target as of May 22. On that day, KeyBanc’s Steve Barger stuck with Hold.
The Arizona project carries risk. It’s a long-term build, not a quick lift for earnings. Amkor said it picked up another 67 acres next to the 104-acre Peoria property, but also warned there’s no guarantee the campus will get built on schedule, hit the cost or specs, or deliver the expected sales and benefits.
So a lot now rides on Tuesday’s open. If premarket gains stick, some investors may treat Friday’s drop as a short-term shakeout after last week’s forecast jitters. If not, the move could just look like catch-up action in a chip sector that’s already run hard into the holiday period.
