New York, Jan 28, 2026, 11:34 EST — Regular session
- Amphenol shares fall even after posting a record quarter and raising its outlook for the first quarter
- Attention shifts to margins, IT datacom demand, and how the CommScope CCS deal will play out
- Executives will field questions during a 1 p.m. ET conference call
Amphenol Corp shares dropped roughly 11% to $147.69 in morning trading, swinging between a low of $140.10 and a high of $173.49. The stock slid $18.56 from its previous close, with about 16.4 million shares changing hands.
The drop surprises given Amphenol’s reputation as a go-to for investors targeting wiring and connectors in data centers, defense equipment, and industrial electronics. When a stock falls hard despite strong headline growth, it usually signals the market is scrutinizing the details — separating organic gains from acquisitions and questioning what’s sustainable.
Amphenol reported a 49% jump in fourth-quarter 2025 sales, reaching $6.4 billion. Adjusted diluted earnings hit 97 cents per share, with GAAP diluted EPS at 93 cents. Looking ahead, the company expects first-quarter sales between $6.90 billion and $7.00 billion, and adjusted diluted EPS from 91 to 93 cents. This forecast factors in the recent acquisition of CommScope Connectivity and Cable Solutions. CEO R. Adam Norwitt noted that the results “exceed[ed] the high end of our guidance.” (Amphenol Investors)
“Adjusted” results fall under non-GAAP measures — firms use them to exclude items they claim aren’t linked to core operations. This can smooth out quarter-to-quarter comparisons but also opens the door to disputes. Amphenol highlights “organic” growth too, which strips out sales changes from acquisitions and currency fluctuations.
APH’s drop stood apart from the wider market: the SPDR S&P 500 ETF barely moved, while the Invesco QQQ added roughly 0.4%. TE Connectivity, a competitor, slipped nearly 2%.
Amphenol started the week trading close to its peak. On Monday, the stock closed at $155.56, just 1.3% shy of its 52-week high, according to MarketWatch, limiting upside unless earnings or news exceed expectations. (MarketWatch)
Amphenol’s quarterly update underscored robust profitability and solid cash flow, alongside an active acquisition pipeline. The company posted $1.5 billion in free cash flow for the quarter and returned almost the same amount to shareholders in 2025. Among its recent deals, Amphenol completed the acquisition of Trexon. (MarketScreener)
However, the company warned that forward-looking statements come with risks and uncertainties, according to a regulatory filing. Margins could take a hit fast if IT datacom demand falters, CCS integration faces more hurdles than anticipated, or currency fluctuations arise—especially given how quickly electronics supply chains evolve. (SEC)
Investors now want to see some texture: is the IT datacom surge still picking up speed? How much growth is coming from within, and how much from acquisitions? Plus, can margins stay strong once CCS is fully integrated? The stock’s broad swings during the day show traders are actively reshuffling, not just sitting tight until the next earnings report.
Amphenol’s conference call at 1 p.m. ET on Wednesday will be the next key event. Executives are set to discuss demand trends and the CCS impact factored into the company’s updated guidance. (Amphenol Investors)
