10 Shock Winners on Wall Street

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

Amkor Technology rallied for a third day on Tuesday, jumping 18.13 percent to close at $25.08 apiece as investors cheered the company’s optimistic outlook for the third quarter of the year despite a mixed earnings performance in the past quarter.

In its earnings release, Amkor Technology, Inc. (NASDAQ:AMKR) said net sales in the second quarter of the year inched up by 3 percent to $1.5 billion from $1.46 billion in the same period last year. However, attributable net income dropped by 19 percent to $54 million from $67 million year-on-year.

For the third quarter, Amkor Technology, Inc. (NASDAQ:AMKR) expects net sales to either end flat or grow by 6 percent year-on-year, pegging figures at $1.875 billion to $1.975 billion, as compared with the $1.862 billion posted in the same period last year.

Net income, on the other hand, was projected to end lower at $85 million to $120 million, versus the $123 million posted in the same quarter a year earlier.

While we acknowledge the potential of AMKR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMKR and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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