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AMKR - Why Amkor Technology Stock Crashed 15% After Earnings
Amkor Technology Inc.
Shares of semiconductor tester and packager Amkor Technology (NASDAQ: AMKR) collapsed after the company reported earnings last night. Amkor beat estimates, reporting $0.38 per-share profit on sales of $1.35 billion -- both numbers better than the $0.26 profit and $1.25 billion revenue that Wall Street analysts had forecast.
Despite this, Amkor stock is down 14.7% as of 10:20 a.m. EDT today.
Amkor's business was red-hot last quarter -- but its stock is not. Image source: Getty Images.