Amkor Technology Rises on BofA Buy Rating, AI Growth Prospects

By EC Assets · Published 27 August 2026

Amkor Technology Inc. shares rose 9% on Thursday after BofA Securities initiated coverage on the semiconductor packaging giant. BofA issued a "Buy" recommendation and set a price target of $70.00 for the company's stock. The bank projects significant earnings growth for Amkor, driven by an artificial intelligence (AI) surge. BofA forecasts Amkor's earnings per share (EPS) to increase from $1.51 in 2025 to $3.41 in 2028. This represents a robust compound annual growth rate (CAGR) of 31%. The growth is expected to be fueled by greater utilization of facilities. Amkor has experienced bullish momentum. Demand is supported by AI and broader technology trends. The company's prior rating was upgraded to a buy from a hold in 2025 due to a strong growth thesis, low debt-to-equity ratio (D/E), and a global supply chain. Amkor has also shown earnings improvement and the growth of a new facility. Applied Materials Inc. is another company providing specialized equipment, services, and software for semiconductor manufacturing, including display systems for advanced electronics. Its technology serves foundries. This article is intended for informational purposes only. It does not constitute investment advice.