Markets
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Claire Yubin Oh

Amkor rises after breaking ground on its new semiconductor packaging campus in Arizona, while increasing investment in the project to $7 billion

Amkor Technology Inc. soared in after-hours trading on Monday after announcing that it was breaking ground on its semiconductor advanced packaging and test plant in Arizona, while also increasing the investment in the facility to a total of $7 billion in collaboration with the US government.

The expanded investment will add an “additional cleanroom space and a second greenfield packaging and test facility,” creating a campus with “over 750,000 square feet of cleanroom space and as many as 3,000 high-quality jobs,” per the company’s press release. The plant will focus on “advanced packaging and testing technologies and will complement TSMC’s front-end wafer fabrication for full end-to-end semiconductor manufacturing.”

Located close to TSMC’s factories in Arizona, the proximity should reduce the need to send US-produced chips back to Asia for the final stages of production.

Amkor’s mega-plant was already set to be one of the most ambitious US-sited semiconductor packaging operations before the expansion, but the latest announcement raises the total project investment by more than $5 billion, backed by the Trump administration’s CHIPS for America Program.

According to the company, the “construction of the first manufacturing facility on the campus is expected to be completed in mid-2027, with production beginning in early 2028.”

Amkor’s mega-plant has already locked in Apple and Nvidia as customers, with Apple’s chief operating officer, Sabih Khan, saying:

“Factories across the United States are producing 19 billion chips for Apple this year alone, and Amkor’s new facility will package and test the Apple silicon produced at TSMC Arizona just down the road. We’re proud to invest in Amkor through Apple’s American Manufacturing Program, which is a key part of our $600 billion commitment to create jobs and accelerate innovation right here in the U.S.”

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Max Knoblauch

Alaska Airlines dips following weaker-than-expected 2026 earnings guidance

Alaska Airlines, America’s fifth-largest airline, reported its fourth-quarter and full-year results for 2025 after the market closed Thursday. Its shares fell 2% in after hours trading.

The airline reported adjusted fourth-quarter earnings of $0.43 per share, beating the $0.11 expected by Wall Street analysts polled by FactSet. Its Q4 passenger revenue climbed 2% to $3.25 billion.

For the current quarter, Alaska guided for a 1% to 2% increase in capacity and an adjusted loss of $1.50 to $0.50 per share, compared to the $0.77 loss per share expected by analysts. The airline forecast full-year earnings of between $3.50 and $6.50 per share for 2026. The $5 per share midpoint falls short of analyst estimates of $5.52.

“To hit the higher end of our guidance range we would require sustained macroeconomic recovery in 2026, at or improving on trends seen in the first three weeks of the year, and for fuel prices to stabilize,” the company said in its report.

Earlier this month, the carrier placed its largest ever plane order, securing 110 Boeing jets to support its international growth ambitions. It plans to add flights to Rome, London, and Iceland this summer, and has said it will boost its premium seat offerings this year — in-line with a wider trend of travel trends reflecting a “K-shaped economy.”

Intel Logo In front of Building

Intel slumps after Q1 guidance disappoints

The bad outlook offset strong Q4 results.

Matt Phillips9h
markets
Luke Kawa

Plug Power jumps amid surge in call activity as CEO Andy Marsh hosts AMA

Plug Power surged on Thursday, jumping nearly 17% amid elevated call activity as outgoing CEO Andy Marsh hosted an “ask me anything” on the r/PlugPowerStock subreddit.

As many as 192,581 call options changed hands, more than 4x the 20-day average — call options with a strike price of $4 that expire in mid-June were the most active contract.

Marsh’s appearance was aimed at building support for the board’s recommendations that its investors vote in favor of three proposals at a special meeting of shareholders slated for next week. These proposals include: allowing votes to be decided by a majority of voters rather than a majority of shareholders, enabling an increase in the company’s share count, and a third measure to delay this special meeting in the event that there aren’t enough votes for either of those two proposals to pass.

During the session, Marsh made the following points:

  • Management really doesn’t want to have to do a reverse stock split, but would feel forced to do so if the second proposal fails to pass. Per a recent filing from Plug, “Without additional authorized shares, the Company will not be able to: meet its contractual obligations to increase authorized shares of common stock by February 28, 2026; raise capital necessary for operations and growth; and execute on its business plans and strategy.”

  • Plug plans to lean even more into opportunities to offer power to AI data center customers, with Marsh writing that incoming CEO Jose Luis Crespo will offer more details on this in a follow-up AMA scheduled for March.

Tasha Matsumoto
9h
Stocks continue to recover from Greenland threats

Megacap tech helped drive gains.

Chicago Bulls Dennis Rodman (91) and Michael Jordan (23) in action, rebounding vs Charlotte Hornets
markets
Jon Keegan

Meta shares rally as Jefferies says it’s a bargain relative to Mag 7 peers

Shares of Meta rallied over 5% on Thursday, as Jefferies analyst Brent Thill doubled down on his “buy” rating for the company, calling the stock a relative bargain compared to its Magnificent 7 peers. The analyst set a price target of $910, well above the $645 where the stock is trading today.

News out of the World Economic Forum this week that Meta’s first models from its revamped AI teams are “very good” aligns with Thill’s argument that the company is well positioned to get back in the AI race with the “all-star model,” which is expected to be released in the first half of the year.

Recent cuts to Meta’s Reality Labs also signal that the company is focusing its spending where it matters. The Jefferies note added that the recent monetization of Threads via ads will help boost revenue.

Next week, Meta reports its fourth-quarter earnings, and Thill expects that even if the company raises its 2026 capital expenditure outlook, investors won’t be spooked, as the company has been clear that spending may continue to be high.

Recent cuts to Meta’s Reality Labs also signal that the company is focusing its spending where it matters. The Jefferies note added that the recent monetization of Threads via ads will help boost revenue.

Next week, Meta reports its fourth-quarter earnings, and Thill expects that even if the company raises its 2026 capital expenditure outlook, investors won’t be spooked, as the company has been clear that spending may continue to be high.

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