Shares of semiconductor packaging and testing company Amkor Technology (NASDAQ:AMKR) fell 7.1% in the morning session after the company reported fourth quarter results with revenue guidance for next quarter missed analysts' expectations. The company also reported a shrinking gross margin compared to the same quarter last year.
Peoria has officially inked a $2 billion deal with Amkor Technology to make the city home to the largest U.S.-based advanced semiconductor packaging and testing facility.
Apple is expected to be Amkor's "first and largest customer" in its packaging factory in Arizona. The company aims to push the future of American manufacturing of chips.
Amkor Technology, a semiconductor packaging provider, got Apple as its first and biggest customer for its advanced packaging facility being built in Peoria, Arizona.