Amphenol Stock Just Slid 6%. AI Demand and a €1.1 Billion Debt Deal Are the Test
Amphenol shares dropped 6.3% to $128.03 Friday, underperforming peers as trading volume doubled its 50-day average. The company reported first-quarter sales of $7.6 billion, up 58% year-over-year, and completed its acquisition of CommScope’s Connectivity and Cable Solutions unit. Amphenol’s board approved a 25-cent quarterly dividend and expects €1.09 billion in net proceeds from a euro bond sale to repay U.S. commercial paper and a term loan.