On July 28, Amkor Technology fell 7.76% in after-hours trading, trading at $56.13/share, with turnover of $14.42 million. Despite reporting Q2 results that significantly exceeded expectations, the stock faced heavy profit-taking pressure following its recent sharp rally.

The company reported Q2 earnings per share of $0.70, beating the analyst consensus estimate of $0.45 by 55.56%, representing a 218.18% year-over-year increase. Revenue came in at $1.898 billion, surpassing the $1.808 billion estimate. However, the stock had previously surged over 12% after announcing a $1.5 billion multi-year advanced packaging partnership with Nvidia, accumulating significant short-term gains. Combined with the broader semiconductor sector weakness that dragged the stock down over 5% during regular trading hours, the after-hours session exhibited a classic sell-the-news pattern as investors locked in profits despite the strong earnings beat.

UBS noted that Amkor's advanced packaging business is expected to grow from 9% to 19% of sales by 2027 at higher gross margins, driven by its expanding role in packaging Nvidia's Vera CPU, GB10, and N1X products.

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