B. Riley downgraded Amkor Technology (AMKR) to Neutral from Buy with a price target of $18, down from $32. The firm cut estimates ahead of the Q1 report to reflect reduced iPhone unit volumes amid an adverse macro environment. Riley now sees “modest-looking incremental” 2025 catalysts for Amkor with a lack of artificial intelligence power versus peers. It would look to get more positive on the shares with sustained secular Advanced Packaging and reshoring growth.
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