New York, Jan 29, 2026, 19:17 EST — After-hours
- Amphenol shares climbed 2.5% Thursday, rebounding from a sharp drop following earnings the previous day
- Investors are weighing a robust outlook amid signals that growth is slowing
- Analysts raised price targets as the market zeroes in on “organic” growth and the CommScope acquisition
Amphenol Corp shares rose $3.65, or 2.5%, closing at $149.58 in after-hours trading on Thursday. During the session, the stock fluctuated between $145.75 and $151.30.
This matters because Amphenol plays a key role in the AI infrastructure—providing cables, connectors, and other components essential for data centers and network upgrades. After a strong rally, investors grow less tolerant when growth shows any sign of slowing.
The stock dropped over 12% the previous day, despite the company’s forecast for first-quarter sales between $6.9 billion and $7.0 billion and adjusted earnings of 91 to 93 cents per share—both surpassing Wall Street estimates. Morningstar analyst William Kerwin commented, “Buy-side expectations were so lofty that even these numbers didn’t meet them.” (ETTelecom.com)
Amphenol reported fourth-quarter sales of $6.4 billion on Wednesday, with adjusted diluted earnings hitting $0.97 per share. The company said organic sales — stripping out acquisitions and currency effects — jumped 37%. “We are pleased to have closed 2025 with record fourth quarter and full-year sales,” CEO R. Adam Norwitt said in a statement. (Amphenol)
Thursday’s rally came with heavy volume. Amphenol closed the regular session up 2.48% at $149.58, though it remains roughly 10% off its 52-week high hit Tuesday. Trading volume surged to around 16.9 million shares—almost twice its 50-day average, according to MarketWatch data. (MarketWatch)
After the selloff, some analysts were quick to call it an overreaction. Citigroup’s Asiya Merchant stuck with a “Buy” rating and bumped up her price target to $180 from $175 on Thursday, according to a note highlighted by GuruFocus. (GuruFocus)
Some took a tougher stance on the numbers ahead of the release. Evercore ISI’s Amit Daryanani called the beat “not big enough,” while Barclays’ Guy Hardwick flagged that the first-quarter guidance “may not be enough relative to expectations,” according to Barron’s.
The tension is clear: Amphenol’s numbers point to a strong outlook, yet the company is coming off a stretch of unusually rapid growth. Investors are digging to distinguish genuine demand acceleration from gains boosted by acquisitions.
Deal risk is also on the table. Earlier this month, Amphenol closed its $10.5 billion purchase of CommScope’s connectivity and cable assets. Investors will be scrutinizing the company’s ability to execute smoothly and deliver clear “organic” growth as the year kicks off.
The downside scenario is well-known. Should Big Tech cut back on spending, or if pricing and product mix shift unfavorably for suppliers, the stock’s valuation could shrink rapidly — as the past 48 hours demonstrated how swiftly sentiment can flip.
Friday’s Jan. 30 session will be the next key test. Traders watch for follow-through from Thursday’s rebound and expect more broker takeaways on what the first quarter reveals about demand once CommScope’s contribution is factored in.
