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Amkor Technology works on chips after wafer fabrication. Customers generally supply wafers they own, and Amkor packages and tests the chips, charging for individual services or a full package of work. Its customers include chip manufacturers, chip-design companies, electronics manufacturers and foundries. Advanced packaging and related testing account for most sales, with conventional wirebond and power-device packaging contributing a smaller share.
Revenue is concentrated among a small group of customers. Apple is its largest direct customer, and Qualcomm is another major customer. Communications devices, including smartphones and tablets, are its largest end market. Earnings depend on customer orders keeping packaging and test factories busy: much of the factory cost is fixed, while customers generally make only short-term commitments and can reduce, delay or cancel orders.
U.S. export controls requiring licenses for certain advanced chips and chipmaking equipment entering China or other designated countries limit sales to some Chinese companies and their business partners.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Amkor depends on major customers’ chip volumes and advanced-packaging demand; JCET Group and Powertech Technology are also important direct rivals missing from this list.
ASE competes with Amkor for chipmakers’ orders to package and test their chips. Watch ASE’s packaging and testing revenue rather than its electronics manufacturing business for the clearest view of this rivalry.
Amkor is heavily exposed to Apple’s orders for chip packaging and testing: direct sales to Apple accounted for 29.8% of Amkor’s 2025 sales. Apple sells phones, computers, tablets and wearables to consumers and other customers, making demand for those devices a useful watchpoint for Amkor.
Qualcomm pays Amkor to assemble and test chips, accounting for 11.1% of Amkor’s 2025 sales. Its chip sales to mobile, automotive and IoT manufacturers are the business to watch for Amkor’s service demand, rather than its intellectual-property licensing revenue.
TSMC makes chips from customers’ designs that need downstream packaging, but also competes with Amkor by selling advanced packaging and testing itself. Its 3DFabric chip-stacking and packaging offering is the overlap to watch.
ChipMOS competes with Amkor for paid chip assembly and testing work, with a narrower focus on memory and display-driver chips. Its display-driver assembly and testing revenue offers a more specific signal than its total sales.
Broadcom buys assembly and testing from Amkor among other providers for its connectivity and infrastructure chips. Watch its networking, wireless connectivity, server and storage chip business—not infrastructure software—for the demand relevant to Amkor.
Marvell’s chip shipments connect to Amkor’s service demand because Amkor assembles and tests chips whose manufacturing Marvell manages. Marvell sells data-infrastructure chips, including networking and storage products; their shipments are the relevant watchpoint.
Cirrus Logic relies on Amkor as one of its primary providers to assemble and test the mixed-signal chips it sells. Watch its Audio and HPMS product revenue, including amplifiers, camera controllers and power chips, for a read on the chip demand behind that work.
Astera Labs buys chip assembly, packaging and testing from Amkor for the connectivity products it sells into cloud and AI infrastructure. Shipments of its ICs to hyperscalers and system manufacturers are the demand to watch, rather than assuming all board and module sales flow through Amkor.
Credo buys packaging from Amkor for connectivity ICs sold into data infrastructure and AI markets. Its IC demand is the relevant signal for Amkor, distinct from Credo’s cable sales and intellectual-property licensing.
Kulicke & Soffa sells chip-assembly equipment and consumables to outsourced packaging and testing providers such as Amkor, linking it to packaging-factory investment and activity. Equipment sales speak to capacity investment, while consumables and servicing relate to factory operations.
Cohu’s business tracks investment and activity in chip testing, which Amkor sells as a service; Cohu sells equipment that moves chips through testing, inspection systems and test interfaces. Watch its test and inspection system sales for a view of spending on testing capacity, without treating Amkor as a disclosed customer.
Onto Innovation sells tools to advanced-packaging manufacturers, giving a view of investment in the area that dominates Amkor’s sales. Watch demand for its tools that measure structures, inspect defects and pattern wafer or panel substrates—not as evidence of a disclosed supply relationship with Amkor.
Amkor Technology Inc earningsThis company
Amkor earns most of its revenue from advanced chip packaging and testing, and this report will show whether sales growth is covering factory costs.
Read advanced-products sales alongside gross margin, and note any comments on factory utilization and production ramps. Rising sales with a steady or improving margin would suggest more orders are spreading fixed factory costs across more work. Rising sales with a falling margin would suggest labor, overhead or ramp-up costs are still absorbing the gains. Together, these show whether Amkor is turning growth into better factory economics.
Cohu Inc earningsCOHU
Cohu's report will show how much chipmakers are spending on test and inspection equipment, offering a signal about demand for Amkor's testing services.
Watch Cohu's test and inspection system sales; equipment sales are not orders for Amkor's services. Stronger sales would suggest chipmakers are adding testing capacity, which may support demand for outsourced testing. Weaker sales would mean that equipment investment is not picking up, removing a potential tailwind for Amkor's testing business. Cohu's customers are not necessarily Amkor's, so this is an industry signal, not proof of Amkor orders.
Fed Interest Rate Decision
Amkor’s Fed rate decision matters because it can change the cost of interest on its variable-rate borrowings, reducing or leaving more cash for operations and investment.
Expected4.0%Last release4.0%
If it comes in above expectations
Higher rates can raise interest costs on Amkor’s variable-rate debt, leaving less cash for operations, investment and debt repayment.
If it comes in below expectations
Lower rates can reduce interest costs on Amkor’s variable-rate debt, leaving more cash for operations, investment and debt repayment.
ASE Technology Holding Co., Ltd. earningsASX
ASE competes with Amkor for chipmakers' packaging and testing orders, so its report will show how demand and competitive momentum are developing in their shared market.
Focus on ASE's packaging and testing revenue, not its electronics manufacturing business, and compare it with Amkor's own packaging and testing sales. Growth at both would point to support from their shared market. Faster growth at ASE could signal stronger competitive momentum, but differences in business mix mean it would not by itself prove Amkor lost orders. If ASE's revenue weakens, Amkor's own results help show whether the issue is softer market demand or a change in competitive position.
Apple Inc. earningsAAPL
Apple's report will show demand for its phones, computers, tablets and wearables, a signal for chip packaging and testing demand from a major Amkor customer.
Watch sales of Apple's devices, particularly phones, tablets and wearables relevant to Amkor's business. Stronger sales would suggest consumer demand is supporting Apple's chip purchases and the packaging and testing work Amkor may receive; weaker sales could weaken that order path. Apple accounted for 29.8% of Amkor's 2025 sales, but Apple's results alone do not establish how much work Amkor receives.
Astera Labs, Inc. earningsALAB
Astera Labs' connectivity-chip shipments will show demand from cloud and AI infrastructure customers, offering a signal for packaging and testing work Amkor may receive.
Watch Astera Labs' connectivity-chip shipments to hyperscalers and system makers; do not treat all board or module sales as work for Amkor. Rising shipments would indicate stronger demand for these chips and could bring more packaging and testing work. Falling shipments would weaken that demand path. Shipments are a signal, not proof that Amkor packages and tests every chip or related product.
Qualcomm Inc earningsQCOM
Qualcomm's chip sales drive the packaging and testing work it buys from Amkor, and its report will show demand across mobile, automotive and IoT markets.
Focus on Qualcomm's chip business serving mobile, automotive and IoT manufacturers, not its intellectual-property licensing revenue. Stronger chip sales would suggest customer demand is supporting the packaging and testing work Qualcomm buys from Amkor; weaker sales would put that work under pressure. Qualcomm accounted for 11.1% of Amkor's 2025 sales, though actual orders still depend on Qualcomm's purchases and product mix.
Kulicke & Soffa Industries Inc earningsKLIC
Kulicke & Soffa sells equipment and consumables to packaging and testing providers, so its report will show changes in capacity investment and factory activity relevant to Amkor.
Separate equipment sales from consumables and services. Stronger equipment sales would suggest packaging providers are adding capacity, which may support the industry backdrop for Amkor's advanced-packaging investment but could also add competing capacity. Stronger consumables and services would point more to busier existing factories, not prove that Kulicke & Soffa's customers include Amkor. Together, the figures show whether the industry is expanding factories or making fuller use of those already built.
