Amkor Technology (AMKR) Moves 9.5% Higher: Will This Strength Last?

Amkor Technology AMKR shares soared 9.5% in the last trading session to close at $29.16. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.7% gain over the past four weeks.The optimism surrounding the stock can be attributed to strong tailwinds including AI and high-performance computing demand, advanced packaging adoption of 2.5D and High-Density Fan-Out, robust smartphone launches, automotive ADAS growth, expanding test capabilities, and a strengthened global footprint including Vietnam and ArizonaThis chip packaging and test services provider is expected to post quarterly earnings of $0.42 per share in its upcoming report, which represents a year-over-year change of -14.3%. Revenues are expected to be $1.93 billion, up 3.6% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Amkor Technology, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMKR going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Amkor Technology is part of the Zacks Electronics - Semiconductors industry. nLight LASR, another stock in the same industry, closed the last trading session 5.7% higher at $31.2. LASR has returned 13.7% in the past month.For nLight, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.02. This represents a change of +125% from what the company reported a year ago. nLight currently has a Zacks Rank of #2 (Buy).Higher. Faster. Sooner. Buy These Stocks NowA small number of stocks are primed for a breakout, and you have a chance to get in before they take off.At any given time, there are only 220 Zacks Rank #1 Strong Buys. On average, this list more than doubles the S&P 500. We’ve combed through the latest Strong Buys and selected 7 compelling companies likely to jump sooner and climb higher than any other stock you could buy this month.You'll learn everything you need to know about these exciting trades in our brand-new Special Report, 7 Best Stocks for the Next 30 Days.Download the report free now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amkor Technology, Inc. (AMKR): Free Stock Analysis Report nLight (LASR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks