New York, Jan 30, 2026, 12:26 EST — Regular session.
Shares of Amphenol Corporation dipped roughly 1.5% to $147.39 on Friday, falling back after two choppy sessions post-earnings. The connector maker’s stock had closed at $149.58 on Thursday and fluctuated between $146.35 and $149.60 during Friday’s trading.
These shifts are significant since Amphenol is now a crowded trade, with many betting on parts linked to data centers and high-speed connectivity. Post-earnings, the focus has shifted away from whether the numbers beat estimates. Instead, investors are parsing what constitutes “real” growth versus growth driven by acquisitions.
The focus has shifted to the first-quarter outlook and the extent to which CommScope’s Connectivity and Cable Solutions business (CCS) contributes to the run-rate. CCS, a major connectivity-and-cable acquisition, is under close scrutiny as investors gauge how fast it will bolster revenue and profit.
Amphenol reported Wednesday that fourth-quarter sales hit $6.4 billion, with adjusted diluted EPS coming in at $0.97. Looking ahead to Q1 2026, the company expects sales between $6.90 billion and $7.00 billion, and adjusted EPS of $0.91 to $0.93, based on current market conditions and steady exchange rates. That forecast factors in roughly $900 million in sales and about $0.02 of adjusted EPS from CCS. CEO R. Adam Norwitt said results “significantly exceed[ed] the high end” of their own guidance. Amphenol also reaffirmed its full-year 2026 projection for CCS to deliver around $4.1 billion in sales and contribute about $0.15 to adjusted EPS. 1
On Wednesday, the company submitted its results in a Form 8-K, according to a regulatory filing. 2
Despite the earnings beat, the stock fell 12.1% on Wednesday, with investors concerned about organic growth—sales growth stripped of acquisitions and currency effects—and the extent to which 2026’s growth relies on the CommScope deal, Investors.com reported.
The shares rebounded sharply on Thursday, climbing 2.48% to close at $149.58 on unusually heavy volume, according to MarketWatch. Meanwhile, the broader U.S. market finished mixed. The rally coincided with gains from peers like TE Connectivity and Eaton, both up around 2% during the session. 3
Barclays bumped up its price target on Amphenol to $175 from $156, sticking with an overweight rating, MT Newswires reported. Citigroup followed, raising its target to $180 from $175 while keeping a buy rating. A handful of other firms, including Goldman Sachs and Seaport Global, also pushed their targets higher after the earnings, according to the same sources. 4
Amphenol manufactures connectors, interconnect systems, antennas, and specialty cables. Its products serve sectors like IT and data communications, defense, automotive, and industrial, per the company profile. 5
Still, the stock’s back-and-forth action highlights how guidance risk can swing both ways. If CCS growth lags behind what investors expect, or if demand for data communications slows from its current pace, the market could swiftly penalize even solid quarterly results.
Next on the agenda is execution: traders will focus on whether Amphenol meets the sales and adjusted EPS targets it set for the quarter ending March 31. They’ll also watch closely for any hints from management about shifts in the CCS contribution hinted at in the first-quarter guidance.
