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Amkor Technology (AMKR): NVDA is Not the Only Semiconductor Stock

By Steve Reitmeister, Editor-in-Chief, WallStreetZen
July 7, 2024 3:38 PM UTC
Amkor Technology (AMKR): NVDA is Not the Only Semiconductor Stock

What’s not to like about semiconductors? 

What’s not to like about the emergence of Artificial Intelligence to increase demand for chips even more? 

The above is the basic premise behind going for one of the leading semiconductor packaging and testing firms in Amkor Technology (NASDAQ: AMKR). 

More specifically with AMKR, they are riding on the crest of 5 consecutive earnings beats. Most impressive of which was the OFF THE CHARTS 140% earnings beat back on April 29th that has Earnings Estimate Revisions on the rise pushing it to a Zacks Rank of 1. 

And yes, the POWR Ratings on StockNews also sees it as Buy rated given the 118 factor check of its fundamental profile. 

Indeed, Wall Street analysts are buzzing about their upside potential. And yes, that includes top analysts like Thomas Diffely of DA Davidson (top 10%) who easily sees outpacing the market in the year ahead. 

Even more exciting is the freshly minted street high $50 target held by Craig Ellis of B. Riley who sits in the top 1% of all analysts…and yes, top 1% means the performance of Craig’s stock recommendations are truly cream of the crop. 

Note that shares are up 20% from when first selected at the end of May 2024 vastly outpacing the broader market. However, when you see the growth of AI chips pushing NVDA to new heights you appreciate that similar catalysts are at play with AMKR. 

This is why AMKR has enjoyed an average 44% earnings beat the past 4 quarters. With the most recent report being 140% above expectations. Anything close to those results over the next 4 quarters could easily have this stock on a path towards a 100% gain by the end of 2025. 

What To Do Next?

AMKR is just one of the stellar stocks found in my Zen Investor portfolio.

To learn more about our exclusive 4 step process to find more winning stocks…and to get your hands on the next 2 stock picks that are to be released on Wednesday July 3rd, then all you need to do is click the link below.

Discover the Zen Investor portfolio

Wishing you a world of investment success!

Steve Reitmeister…but everyone calls me Reity (pronounced “Righty”)

Editor of the Zen Investor

Want to get in touch? Email us at news@wallstreetzen.com.

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