35 Chip Stocks Powering AI Boom

21. Amkor Technology, Inc. (NASDAQ:AMKR)

Number of Hedge Fund Holders: 39

Amkor Technology, Inc. (NASDAQ:AMKR) provides semiconductor packing and test services. These packaging services are crucial for advanced semiconductor chips used in AI applications, such as in data centers, automotive AI systems, and consumer electronics. In the second quarter of 2024, the semiconductor firm reported $1.46 billion in total net sales, with 88% from packaging services. The advanced products offered by the company, which include AI-related semiconductor services, contributed approximately $1.18 billion to these sales. The AI and high-performance computing markets are growing sectors within the service offerings of Amkor.

Amkor Technology, Inc. (NASDAQ:AMKR) has earned bullish reviews from Wall Street. Needham analyst Charles Shi recently raised the price target on the stock to $45 from $40 and kept a Buy rating, noting that the company’s slight Q3 guidance miss should not diminish its growing strength as Amkor management had hinted that high-end smartphones, laptops, and wearable devices were ramping rapidly in the second half of the year as planned.