Amkor Technology downgraded to Hold at Melius on currency impact on sales

As previously reported, Melius Research analyst Ben Reitzes downgraded Amkor Technology (AMKR) to Hold from Buy with a price target of $30, down from $34. In 2025, the firm believes there is upside to expectations for capex growth at hyperscalers and enterprise IT spending, but adds that it expects any surprises to be more back-half loaded and flow into 2026. 2025 marks “year 3” of the AI boom, and while there could be “more measured” euphoria, “we are still early,” the analyst tells investors in a 2025 outlook note for the software and technology group. For some in the group, including Amkor, the firm sees revenue downside in the near-term due to currency.