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Amkor's Advanced Packaging Demand Set to Accelerate on AI Growth, UBS Says

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Amkor Technology (AMKR) is benefiting from stronger leverage to the server CPU cycle as advanced packaging demand accelerates from AI-driven data center growth, UBS said in a note emailed Monday.

The bank cited Amkor's expanding role in packaging Nvidia's Vera CPU, GB10 and N1X products, along with potential second-source business for AMD's Venice CPU, as key drivers.

UBS said the company's advanced packaging business is expected to grow from 9% to 19% of sales by 2027 at higher gross margins than the corporate average, while the broader compute segment, including networking, should also expand as a share of revenue.

UBS raised its 2026 and 2027 revenue growth estimates and lifted 2027-2028 EPS forecasts, citing accretive margins from the packaging mix shift and tightening industry capacity supporting price increases.

UBS upgraded Amkor to Buy from Neutral and raised its price target to $90 from $80.

Price: $60.14, Change: $-4.82, Percent Change: -7.42%

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