Just recently, shares of Amkor Technology (AMKR) collapsed from about $28 to $22.30 on a secondary offering. Now oversold. Earnings haven’t been too shabby either. While revenues slipped 3.3% year over year, its Q2 EPS of 26 cents did beat by five cents. The company also just declared a dividend of $0.075, payable Sept. 25 to shareholders of record as of Sept. 5. If AMKR can break above $22.40, it’s a buy. Our initial price target is $25. Set a stop loss at $21.
Helping, further technological advancements with AI, quantum computers, autos, and cloud computing will only drive demand higher for semiconductors. So much so, the semiconductor market could be worth $712.4 billion by 2028 from $429.5 billion in 2021. By 2030, we could be looking at a trillion-dollar industry, says McKinsey & Company.