Amkor Technology, Inc. AMKR reported second-quarter 2019 adjusted loss of 4 cents per share, narrower than the Zacks Consensus Estimate of a loss of 7 cents.Revenues of $895 million beat the Zacks Consensus Estimate of $890 million and were within the company’s guided range of $850-$930 million. However, revenues were almost flat sequentially but down 16% year over year.The company has been making efforts to channelize resources in important growth areas like micro-electro-mechanical systems (MEMS) and the sensors business, which focus on mobile and automotive applications.The company remains optimistic about automotive business growth. Per market forecast, the automotive market will grow in high-single digits in the coming years. The growth is expected to be driven by increasing electronic content. Given attractive value proposition for automotive customers, Amkor is poised to benefit going ahead.The company expects mobile revenues to be up almost 25% sequentially in the third quarter due to production ramp-ups and flagship smartphones.Amkor Technology, Inc. Price, Consensus and EPS Surprise Amkor Technology, Inc. price-consensus-eps-surprise-chart | Amkor Technology, Inc. QuoteRevenues in Terms of Product LinesThe revenue mix in terms of product linesis discussed below.Advanced Products— which include flip chip scale packages, wafer-level chip scale packages and flip chip ball grid array packages — accounted for approximately 48% of second-quarter revenues. Revenues increased 2.6% sequentially but decreased 12.7% year over year.Mainstream Products— which include lead frame packages, substrate-based wire bond packages and MEMS packages —accounted for the remaining 52% of second-quarter revenues. Revenues decreased 17.2% sequentially and 18.9% year over year.MarginsPer the press release, gross margin of 13.8% was at the high end of the guided range, primarily due to favorable product mix. Gross margins were up 30 basis points (bps) sequentially but down 210 bps from the year-ago quarter.Operating expenses of $100.9 million decreased 12.8% year over year due to decreased employee compensation costs and reduced discretionary spending.As a percentage of sales, both selling, general & administrative, and research & development expenses marginally increased from the year-ago quarter.As a result, operating margin was 2.5%, down 260 bps from the prior-year quarter.Balance Sheet & Cash FlowTotal cash, cash equivalents and restricted cash were $5.5 billion, up from $1.06 billion in first-quarter 2019.GuidanceFor the third quarter, Amkor expects revenues in the range of $990 million to $1.07 billion, indicating a 15% sequential improvement, driven by gains in mobile communications and consumer markets. The Zacks Consensus Estimate for revenues is pegged at $1.02 billion. Gross margin is expected within 12-16%. Earnings per share are expected in the range of (3)-17 cents on a GAAP basis.Zacks Rank and Stocks to ConsiderCurrently, Amkor carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Alibaba Group Holding Limited BABA, Teradyne, Inc. TER and eBay Inc. EBAY, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Long-term earnings growth for Alibaba, Teradyne and eBay is currently projected at 26.8%, 11.4% and 9.4%, respectively.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>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 eBay Inc. (EBAY): Free Stock Analysis Report Alibaba Group Holding Limited (BABA): Free Stock Analysis Report Amkor Technology, Inc. (AMKR): Free Stock Analysis Report Teradyne, Inc. (TER): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research