Amphenol Corporation

TTM Technologies reported record quarterly net sales of $1.00 billion for its second quarter, up 37.4% year on year and 4.8% above analysts' expectations, with next-quarter revenue guidance also exceeding consensus. Chief Executive Officer Edwin Roks credited robust Data Center and Networking demand, which rose 91% year on year, along with 33% growth in the Medical, Industrial and Instrumentation end market and 14% growth in Aerospace and Defense. The stock has fallen 6% since the results and trades at $123.42. Across the 10 electronic components and manufacturing stocks tracked in the group, revenues beat consensus by 4.7% and next-quarter revenue guidance came in 6.3% above estimates, with share prices up 2.1% on average since reporting. Amphenol led the group with revenue of $8.76 billion, up 55% year on year, while Jabil posted $10.62 billion, up 28.6%, and Plexus reported $1.30 billion, up 28.1%; Rogers was the weakest, with revenue of $216.8 million, up 6.9%, and a significant miss on earnings per share.

Amphenol delivered a standout earnings release with sharply higher year over year revenue, record adjusted EPS, and guidance that topped expectations, driven by demand tied to AI data center buildouts. The stock is up 20.74% year to date, with a 1-year total shareholder return of 37.26%, a 3-year total shareholder return of a little over 3x, and a 5-year total shareholder return of almost 3.75x. The most followed analyst narrative puts fair value at $103.67 a share against a last close of $84.34, framing the stock as 19% undervalued. At 40.4x earnings, Amphenol trades above its 38.7x fair ratio and the US Electronic industry on 30.3x, though it remains cheaper than peers at 84.8x. The story could break if hyperscaler capex cools or if the CommScope integration creates margin pressure that undercuts the AI narrative.

Amphenol reported second-quarter 2026 orders of $10.7 billion, up 94% year over year and 14% sequentially, for a book-to-bill ratio of 1.23:1, with every end market posting a positive book-to-bill ratio. The adjusted operating margin expanded 420 basis points year over year and 250 basis points sequentially to 29.8%, and even excluding tariff recoveries the margin approached 29%. CommScope contributed more than $1.2 billion in second-quarter sales at a margin above 20%, and Amphenol raised its expected 2026 CommScope revenues to $4.6 billion from $4.1 billion while doubling expected adjusted EPS accretion to 30 cents from 15 cents. IT datacom represented 43% of second-quarter sales, with revenues rising 89% year over year and 63% organically, and adjusted EPS rose 67% year over year to $1.35 as operating and free cash flows reached $1.6 billion and $1.2 billion. Amphenol faces competition from Marvell Technology, which lifted its fiscal 2028 revenue outlook to $18 billion, and TE Connectivity, which reported record orders of $5.7 billion, up 27% year over year.

Amphenol's IT datacom business, which represented 43% of the company's total sales in the second quarter of 2026, saw revenues surge 89% year over year and 63% organically, with management saying the AI revenue run rate has reached roughly $10.5-$11 billion. Management noted that virtually all of the 22% sequential IT datacom growth in the quarter came from AI-related products, as customers require more copper, optics and power for larger, more complex AI clusters. The company's acquisition of CommScope contributed more than $1.2 billion in sales in the quarter, with CommScope's IT datacom business nearly doubling year over year; management expects that market to account for just under half of CommScope's 2026 sales, compared with roughly one-third in 2025. Amphenol faces tough competition from TE Connectivity, whose Digital Data Networks sales rose 34% year over year in the third quarter of fiscal 2026 with bookings up more than 70% year to date, and from Marvell Technology, whose data-center revenues increased 46% year over year to $2.17 billion in the second quarter of fiscal 2027. Amphenol shares have risen 16% year to date, trailing the broader Zacks Computer and Technology sector's 17% gain, and trade at a forward 12-month price/earnings of 25.32X versus the sector's 20.38X, while the Zacks Consensus Estimate for earnings stands at 72 cents per share, up 5 cents over the past 30 days and implying 53.19% growth.

Amphenol's Communications Solutions segment surged 85% year over year in the second quarter of 2026, driven by AI-related IT datacom demand and acquisitions, with the segment now representing roughly 62% of total revenues. IT datacom, which accounted for 43% of quarterly sales, grew 89% year over year and 63% organically, with sequential growth of 22% almost entirely from AI products. The company expects another mid-teen sequential increase in the third quarter as AI data-center investments accelerate. Amphenol raised CommScope's expected 2026 revenues to $4.6 billion from $4.1 billion, and it projects third-quarter sales of $9.3-$9.4 billion, implying 50-52% year-over-year growth, with adjusted earnings of $1.40-$1.42 per share. Rivals TE Connectivity and Bel Fuse are also growing, with TE's Digital Data Networks revenues up 34% to $813 million and Bel Fuse's Data Solutions up 55% to roughly $58 million, but Amphenol's shares have outperformed, rising 17.5% year to date versus the sector's 14.4%.

Flex reported second-quarter revenues of $7.93 billion, up 20.6% year on year and 5.4% above analysts' expectations, in what the company called an exceptional quarter. The electronic components and manufacturing sector as a whole beat consensus revenue estimates by 4% and guided next quarter's revenue 6% above expectations, though average share prices are down 8.3% since earnings. Flex also exceeded analysts' EPS guidance for next quarter, but its stock fell 5.8% after reporting and now trades at $106.73. Among peers, Amphenol posted the fastest revenue growth at 55% year on year and its stock rose 8.3%, while Rogers delivered the weakest performance against estimates with a significant EPS miss.

Aoris Investment Management's Q2 2026 investor letter highlighted Amphenol Corporation as a key beneficiary of AI data centre infrastructure buildout. The fund noted that Amphenol's data centre revenue grew 81% year over year in the March 2026 quarter, and that data centres now account for one-third of the company's total revenue. Amphenol shares closed at $165.75 on August 13, 2026, with a market capitalization of $204.37 billion. The fund's Class A Unhedged portfolio returned 5.7% after fees in the June quarter, underperforming its benchmark by 8.1%.

Zacks Equity Research has highlighted Amphenol as its Bull of the Day and Pilgrim's Pride as its Bear of the Day. Amphenol, a Zacks Rank #1 Strong Buy, reported record second-quarter adjusted earnings of $1.35 per share, up 66.7% year over year and beating the consensus estimate of $1.19, with revenues surging 55% to a record $8.76 billion. The company raised its full-year expectations for the acquired CommScope connectivity and cable business to $4.6 billion in sales and 30 cents of adjusted EPS accretion, up from prior guidance of $4.1 billion and 15 cents. Pilgrim's Pride, a Zacks Rank #5 Strong Sell, posted adjusted earnings of 64 cents per share, missing the consensus estimate of 75 cents and collapsing 62.4% from $1.70 a year ago, as net sales fell 2.8% to $4.63 billion and gross profit dropped 52.5% to $339.8 million. Zacks also provided analysis on Uber Technologies, WeRide, and Amazon, noting that Uber and Wayve received Private Hire Vehicle licenses from Transport for London for several self-driving Ford Mustang Mach-E vehicles, moving them closer to launching autonomous rides in London.

Amphenol Corporation has been named a Zacks Rank #1 Strong Buy, reflecting a wave of upward earnings estimate revisions tied to its role in the artificial intelligence buildout. The company supplies connectors, cables, sensors and interconnect systems used in AI data centers, and its shares have gained roughly 57% over the past year and about 27% year-to-date, outpacing the S&P 500's 22% and 13% respective returns. In the second quarter, Amphenol delivered record adjusted earnings of $1.35 per share, up 66.7% year over year and beating the Zacks Consensus Estimate of $1.19 by 13.5%, while revenues surged 55% to a record $8.76 billion. Management raised full-year expectations for the acquired CommScope connectivity and cable business to $4.6 billion in sales and 30 cents of adjusted EPS accretion, up from prior guidance of $4.1 billion and 15 cents. For the third quarter, the company guided revenues to $9.3–$9.4 billion, implying 50–52% growth, with adjusted EPS of $1.40–$1.42, up 51–53%, and analysts have lifted the full-year Zacks Consensus EPS Estimate by 11.7% over the last 30 days to $5.25 per share, representing 57% growth.

Wall Street analysts project the humanoid robotics market could reach $1.4 trillion to $1.7 trillion annually by 2050, according to UBS. TE Connectivity and Amphenol are positioned as key component suppliers, providing connectors, sensors, and power management systems essential for every humanoid robot regardless of the manufacturer. TE Connectivity reported record third-quarter 2026 revenue of $5.16 billion, up 14% year over year, with adjusted earnings per share rising 22% to $2.94. Amphenol posted record second-quarter 2026 sales of $8.8 billion, a 55% increase, and adjusted diluted earnings per share of $1.35, up 67%. Both companies already serve diverse industries including AI infrastructure, automotive, and industrial automation, offering diversified exposure to the emerging humanoid robotics supply chain.

Amphenol Corporation has been upgraded to a Zacks Rank #1, or Strong Buy, following a series of upward earnings estimate revisions by analysts. The consensus estimate for the current quarter has risen 15.79% over the last 30 days to $1.42 per share, which would represent a 52.7% increase from the year-ago period. For the full year, the consensus estimate has climbed 11.8% to $5.25 per share, implying 57.2% year-over-year growth. The stock has gained 8% over the past four weeks, reflecting investor optimism around the improving earnings outlook.

Amphenol reported second-quarter revenue of $8.76 billion, a 55% year-on-year increase that exceeded analyst estimates of $8.29 billion, while adjusted earnings per share of $1.35 beat the consensus of $1.19 by 13.2%. The company issued third-quarter revenue guidance of $9.35 billion at the midpoint, well above the $8.73 billion analyst forecast, and adjusted EPS guidance of $1.41, topping the $1.28 estimate. CEO Richard Adam Norwitt attributed the strong performance to robust AI-driven demand in the IT datacom segment and the successful integration of CommScope, which boosted sales and expanded margins. Operating margin rose to 29.5% from 25.1% a year earlier, supported by operational discipline and factory efficiency gains. Amphenol’s market capitalization stood at $184.9 billion, with shares trading at $152 after the results.

Shares of Amphenol surged about 9% on Wednesday after the fiber optic connector maker reported second quarter results and third quarter outlook that beat estimates. Adjusted earnings per share jumped 67% year-over-year to $1.35, while sales rose 55% to $8.8 billion, both exceeding consensus. The company also announced the acquisitions of El.Com and Wilder Technologies, and raised its full-year sales and accretion expectations for the CommScope Connectivity and Cable Solutions segment to $4.6 billion and $0.30 per share, respectively. For the third quarter, Amphenol guided for sales of $9.3 billion to $9.4 billion and adjusted EPS of $1.40 to $1.42, well above analyst forecasts of $8.77 billion and $1.28.

Analysts expect Amphenol's upcoming quarterly report to show strong year-over-year growth in both earnings and revenue, supported by upbeat revisions and rising institutional interest. The most widely followed narrative sets fair value at $184.78 against a last close of $157.43, implying the stock is 14.8% undervalued. Accelerating deployment of AI-driven data centers and next-generation IT architecture is driving demand for Amphenol's high-speed interconnect solutions, with exceptional growth in IT datacom revenue. However, the stock trades at 43.4 times earnings, richer than the US Electronic industry average of 29.3 times and close to its fair ratio of 44.7 times, suggesting less obvious upside. The share price has returned 12.68% year to date and 357.76% over five years.

Brasada Capital Management featured Amphenol Corporation in its second-quarter 2026 investor letter, calling the connector and sensor giant a high-quality business that benefits from the artificial intelligence infrastructure buildout. The firm noted that Amphenol produces mission-critical components representing a tiny fraction of customer costs, creating high switching costs and reinforcing its competitive position. Amphenol closed at $157.51 per share on July 22, 2026, with a market capitalization of $193.77 billion, and generated record first-quarter sales of $7.6 billion, a 58% year-over-year increase. Brasada emphasized the company's decentralized structure and diversification across eight end markets, with no single sector exceeding 25% of sales.

Zacks Investment Research compares Astera Labs and Amphenol, concluding that Amphenol is the stronger connectivity stock pick. Astera Labs reported first-quarter 2026 revenue of $308 million, up 93% year over year, with PCIe Gen 6 contributing more than one-third of total revenue, but faces near-term profitability pressure from elevated spending. Amphenol booked a record $9.4 billion in orders in the first quarter of 2026, with a book-to-bill ratio of 1.24:1, and saw defense sales rise 44%, industrial sales rise 52%, and commercial aerospace grow 22% year over year. Amphenol carries a Zacks Rank #2 (Buy), while Astera Labs holds a Zacks Rank #3 (Hold).

Mar Vista Investment Partners highlighted Amphenol Corporation as a leading contributor in its U.S. Quality Strategy during the second quarter of 2026. The strategy returned 12.71% net, trailing the Russell 1000 and S&P 500 indices which returned 15.14% and 15.20% respectively. Amphenol delivered a strong first quarter with a book-to-bill ratio of 1.24 times, driven by a 78% year-over-year increase in orders, and management characterized demand as broad-based across end markets and geographies. The firm noted that investor concerns about a near-term shift from copper to optical interconnects in AI data centers were misplaced, and Amphenol maintains exposure to optical opportunities through its acquisition of CommScope's Connectivity Solutions business. Amphenol shares recovered during the quarter as confidence grew in durable demand for copper interconnect solutions, supported by strong bookings growth and an improving demand outlook.

Bell Global Equities Fund initiated a position in Amphenol Corporation during May 2026, citing the connector maker's dominant market position and attractive valuation after a pullback. The fund highlighted Amphenol's highly fragmented connector market, where designs locked into platforms create multi-year recurring revenue, and its bolt-on acquisition strategy as a consistent growth lever. First-quarter sales surged nearly 60% year-over-year to a record over US$7.5 billion, while earnings growth of close to 70% beat expectations, and strong second-quarter guidance supports ongoing upgrades. The fund viewed the May sell-off, driven by concerns over Amphenol's role in future AI architectures transitioning from copper to optical networking, as a rare opportunity to invest in a dominant compounder at a meaningful discount to intrinsic value.

Amphenol shares have risen 17% year to date, outperforming the broader tech sector, driven by accelerating demand for its high-speed and power interconnects used in AI servers and networking. The company ended the first quarter of 2026 with orders of $9.435 billion, up 78% year over year, and IT datacom sales surged 99% year over year, accounting for 41% of revenues. However, challenges include a stretched valuation with a forward price-to-earnings ratio of 30.48 times, a significant increase in total debt to approximately $18.7 billion following the CommScope acquisition, and potential headwinds from any slowdown in AI-related capital expenditure. Zacks Investment Research maintains a Zacks Rank #3, or Hold, on the stock, suggesting investors wait for a more favorable entry point.

Barclays raised its price target on Amphenol Corporation to $198 from $180 while maintaining an Overweight rating. The firm cited increased confidence in the company's artificial intelligence-related content ramp. Amphenol projects second-quarter 2026 revenues of $8.1 billion to $8.2 billion, representing year-over-year growth of 43% to 45%, and expects adjusted diluted earnings of $1.14 to $1.16 per share, up 41% to 43% from the prior-year period. Chief Executive Officer R Adam Norwitt highlighted growth opportunities from electronics innovation and the expansion of the interconnect portfolio through internal innovation and acquisitions including CommScope.

Amphenol shares jumped 6.2% after Evercore ISI reiterated the stock as its top pick in connectors and sensors, with an Outperform rating and $180 price target. The connector market grew about 14.7% year-over-year in 2025 to roughly $99.2 billion, nearly double Evercore's prior estimate of about 7.9%. Analyst Amit Daryanani's team said Amphenol is best positioned to capitalize from the AI investment cycle given its leading position in both copper and fiber. The note highlighted that as data-center racks grow more complex, connectivity content per system rises, and the market for those connectors is expanding well ahead of forecasts. Evercore argued that Amphenol's agility, diversity, and global scale should sustain long-term double-digit revenue growth and high-teens EPS growth with limited volatility.

Amphenol Corporation is expected to report adjusted earnings per share of $1.16 for its fiscal second quarter of 2026, a 43.2% increase from $0.81 in the same period last year. The company, which has a market capitalization of $204.7 billion, is scheduled to announce results before the market opens on Wednesday, July 22. For the full fiscal year 2026, analysts project adjusted EPS of $4.76, up 42.5% from $3.34 in fiscal 2025. Amphenol shares have risen 70.4% over the past 52 weeks, outpacing the S&P 500's 19.9% gain and the Technology Select Sector SPDR ETF's 47.9% increase. The stock rose 3.2% on April 29 after the company reported record first-quarter results, with sales surging 58% year-over-year to $7.6 billion and adjusted EPS jumping 68% to $1.06, while issuing second-quarter guidance that matched current estimates.

Amphenol Corporation is highlighted as a strong growth stock by Zacks Investment Research, citing three key factors. The company's earnings per share are projected to grow 43% this year, outpacing the industry average of 36.5%. Year-over-year cash flow growth stands at 75.8%, far exceeding the industry average of negative 86.7%, while its annualized cash flow growth over the past three to five years is 28.9% versus the industry's negative 2.9%. Additionally, upward revisions in current-year earnings estimates have pushed the Zacks Consensus Estimate up 0.4% over the past month, contributing to a Zacks Rank #2 (Buy) and a Growth Score of A.

StockStory highlights Amphenol as a business services stock with impressive fundamentals, while recommending investors avoid Diebold Nixdorf and Insperity. Amphenol, with a market cap of $187.6 billion, posted annual revenue growth of 42.1% over the last two years and earnings per share growth of 55.5% annually, supported by a robust free cash flow margin of 15.4%. In contrast, Diebold Nixdorf saw stagnant sales over five years and a 10% annual contraction in earnings per share over the last two years, with no free cash flow generation. Insperity recorded just 2.5% annual revenue growth over two years and a 30.5% annual decline in earnings per share over five years, while its free cash flow margin fell by 4.6 percentage points.

Corning Incorporated reported a 20.2% core operating margin in the first quarter of 2026, up 220 basis points from the year-ago quarter. Core gross margin expanded 120 basis points to 39.1%, while core EPS rose 30% year over year, outpacing 18% revenue growth. Optical Communications revenue grew 36% year over year, driven by hyperscale data-center investments and GenAI networking demand, with segment net income up 93%. The solar business is expected to see improved profitability in upcoming quarters as the company shifts toward higher-growth, higher-value products. Competitor Amphenol Corporation posted an adjusted operating margin of 27.3%, up 380 basis points, while Ciena Corporation's adjusted operating margin rose to 19.5% from 8.2% a year earlier.

Amphenol Corporation reported first-quarter 2026 sales surged 58% year over year to $7.6 billion, driven largely by AI-related IT Datacom demand, while orders reached $9.4 billion for a book-to-bill ratio of 1.24. The Communications Solutions segment, which includes IT Datacom, grew 88% and accounted for roughly 60% of total sales, though IT Datacom itself represented just over 40% of revenues, highlighting contributions from automotive, commercial aerospace, defense, and industrial markets. The company’s $10.5 billion acquisition of CommScope's Connectivity and Cable Solutions business further broadens its exposure to broadband and data infrastructure. Amphenol trades at 32.11 times forward earnings, above its five-year median of 29.26 times and the industry average of 31.92 times, while the Zacks Consensus Estimate for 2026 earnings stands at $4.76 per share, implying 42.5% growth. Shares have gained 22.8% year to date, outpacing the broader sector’s 20% rise.

Amphenol guided second-quarter revenue to a range of $8.1 billion to $8.2 billion, a 17% sequential increase and 43% to 45% above the year-ago quarter, driven by an 81% organic sales surge in its IT datacom segment fueled by AI demand. The company booked a record $9.435 billion in orders, yet the stock has seen only a slow climb as investors weigh the potential shift from copper interconnects to optical technology in next-generation data centers, a market with more competitors. Options markets are pricing in implied volatility of 49%, in the 84th percentile of its range, signaling expectations of large swings around the next earnings report. The market is assessing whether Amphenol can defend its dominance when the technology inevitably changes.

Amphenol has returned about 19.2% since the start of the calendar year, outperforming the average 17.1% return of the Computer and Technology sector, which includes 592 companies. The stock holds a Zacks Rank of #2 (Buy), and its full-year earnings consensus estimate has risen 10.1% over the past three months. Within its specific industry, Electronics - Connectors, which comprises 2 companies and ranks #29 in the Zacks Industry Rank, the average year-to-date gain is 19.3%, meaning Amphenol is slightly underperforming that narrower group. Another sector outperformer, Ambiq Micro, Inc., has surged 177.6% year-to-date and belongs to the 47-stock Electronics - Semiconductors industry, which has moved +57.3% so far this year.