Amkor Technology (NASDAQ: AMKR) shares skyrocketed 20.86% in intraday trading on Tuesday, building on the momentum from its impressive second-quarter earnings report and optimistic third-quarter guidance. The semiconductor packaging and test services provider demonstrated robust performance across its business segments, particularly in advanced technologies for artificial intelligence (AI) and high-performance computing.

For Q2 2025, Amkor reported earnings per share of $0.22, significantly beating the analyst consensus estimate of $0.16. The company's quarterly sales reached $1.51 billion, exceeding the projected $1.42 billion and marking a 3.4% increase from the same period last year. This strong performance was driven by double-digit growth across all end markets, with a particular focus on AI and high-performance computing technologies.

Adding to the positive sentiment, Amkor provided strong guidance for the third quarter of 2025. The company forecasts Q3 net sales between $1.875 billion and $1.975 billion, surpassing the consensus estimate of $1.76 billion. Amkor also expects Q3 earnings per share in the range of $0.34 to $0.48. This optimistic outlook, coupled with the company's strategic focus on transformative technologies, has fueled investor enthusiasm. Several analysts have raised their price targets for Amkor, with Needham increasing its target from $22 to $28 and UBS lifting its target to $25 from $23, further boosting confidence in the stock. As Amkor continues to expand its advanced packaging capabilities and deepen customer partnerships in AI, automotive, and high-performance computing sectors, investors appear bullish on the company's growth prospects in these rapidly evolving markets.