AMKOR Technology Inc.

Record Q1 performance; strong demand breadth (but some PC softness) - Revenue: $1.68B, +27% YoY (record), above the top end/midpoint of guidance. - EPS: $0.33 (significantly higher YoY), supported by operating leverage and margin initiatives. - End-market highlights: - Communications: +42% YoY; strength led by iOS premium-tier smartphones (Amkor cited strong current-generation footprint) and healthy Android. - Computing: +19% YoY, but PCs/laptops were soft (a recurring theme). - AI data center applications (compute subsegment): record revenue, driven by broad-based strength across multiple customers.

Q2 outlook and margin guidance (mid-to-high teens gross margin trajectory) - Revenue: $1.75B–$1.85B (~+7% sequential at midpoint). - Gross margin: 14.5%–15.5% (implies continued improvement vs Q1 14.2%). - Operating expenses: ~$120M, includes ~$20M gain on real estate. - EPS: $0.42–$0.52; net income $105M–$130M. - Full-year posture: reiterated confidence in previously provided full-year outlook; margin lift in H2 expected driven by utilization, mix, and pricing actions (despite supply-cost pressures).

Key strategic growth drivers: advanced packaging ramps in H2 and HDFO/compute momentum - Advanced packaging investment + ramps: Amkor emphasized readiness for advanced packaging ramping in H2 2026, especially HDFO. - Data center CPU program: newest CPU program expected to begin ramping this quarter; meaningful revenue contribution in Q3 and continues beyond into 2027. - Advanced packaging demand opportunity: management still expects advanced packaging to triple (with caveat that supply constraints/ramp profile could affect the exact path).