Stock Track | Amkor Technology Soars 6.29% Intraday on TSMC Strategic Partnership and Expansion Plans

Stock Track06-18

Amkor Technology's stock surged 6.29% during intraday trading, continuing its positive momentum from pre-market sessions.

The significant price movement is driven by the company's landmark ten-year strategic cooperation agreement with Taiwan Semiconductor Manufacturing Company (TSMC). Under this agreement, TSMC will procure advanced packaging and test services from Amkor, with both parties collaborating to expand advanced semiconductor packaging capacity in Arizona to serve growing global demand for high-performance computing and AI chips.

Additionally, Amkor is reportedly considering a substantial 1 trillion KRW investment to expand its Gwangju plant in South Korea, with the first phase targeting completion by 2030. This expansion is driven by a significant increase in packaging and testing orders from TSMC that exceed current production capacity. The company has also recently outlined ambitious 2030 financial targets, including revenue exceeding $11 billion.

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