Amkor Technology (AMKR), a leading outsourced semiconductor assembly and test ("OSAT") name that I profiled here recently, reported earnings following market close on 7/29. The quarter was mostly in-line - a $9.6M miss on the top line and a $0.01 beat on the bottom line. What seems to be giving investors a sour stomach (and what drove a ~5% decline in the after-hours session) is that guidance came in light (flat revenue Q/Q, EPS down a fair bit at the midpoint), as weakness in the high-end smartphone market offsets good news in the company's other end markets. At these levels, I remain bullish and believe the fundamental long thesis remains intact.
Amkor's Temporary Communications Problem
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