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Amphenol Corp

Amphenol Corp

APH
$151.20USD↓-1.27%-1.94 today

MARKET CAP

186.0B

P/E (TTM)

40.6x

FWD P/E

30.4x

DAY RANGE

$146 – $154

52W RANGE

$95
$179

AI Summary

Stalk
Sell NowMedium

APH is in a Stage 3 distribution phase, forming lower highs under downward‐sloping EMAs with no signs of exhaustion. The active Post-Parabola Collapse pattern underscores persistent supply, reinforcing a bearish medium-term bias. Short-term timing favors selling now as rallies into the 9/21 EMA and 50 DMA cluster are being rejected. Absence of oversold conditions or bullish reversal setups supports immediate sell-side engagement at these resistance levels.

  • ↑Q1 revenue $7.6B, up 58% YoY on IT Datacom and defense demand.
  • ↑Adjusted operating margin of 27.3%, +380bps YoY reflects strong leverage.
  • ↓P/E near 30× and low earnings yield raise long-term valuation concerns.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Amphenol Corporation (NASDAQ: APH) is a leading global provider of interconnectors, sensors, and systems, primarily serving diverse markets, including IT Datacom, automotive, industrial, and military applications. The company is strategically positioned to capitalize on high-growth sectors, particularly in the realms of artificial intelligence (AI) and defense technologies. Its recent acquisition of CommScope allows for enhanced capabilities in fiber optics and increased exposure to high-demand markets such as hyperscaler data centers and AI infrastructure, further solidifying its position within the rapidly evolving technology landscape.

Bull says

  • ↑Q1 revenue $7.6B, up 58% YoY on IT Datacom and defense demand.
  • ↑Adjusted operating margin of 27.3%, +380bps YoY reflects strong leverage.
  • ↑CommScope buy expands fiber optics and hyperscaler data center footprint.
  • ↑Elevated CapEx targets IT Datacom growth amid AI infrastructure build-out.
  • ↑High institutional ownership indicates solid investor confidence.
  • ↑High growth and profitability factors with strong momentum support upside.

Bear says

  • ↓P/E near 30× and low earnings yield raise long-term valuation concerns.
  • ↓CommScope integration may pressure margins if synergies underperform.
  • ↓~30% of revenue in China faces tariffs and higher effective tax rate.
  • ↓Supply chain constraints and rising costs challenge capacity and margins.
  • ↓Cyclical AI CapEx could slow future order growth from major clients.
  • ↓Liquidity pressure and no-dividend policy may limit shareholder returns.

Investment themes with APH

High Beta↓ -0.12%

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Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-01-2026neutral

Transcript signals

Bull points

  • The company closed the first quarter of 2026 with record sales of $7.6 billion and GAAP and adjusted lewd EPS of $0.72 and $1.06 respectively.
  • First quarter sales were up 58% in U.S. dollars, 57% in local currencies, and 33% organically compared to the first quarter of 2025.
  • Orders in the quarter were a record $9,435,000,000, up a strong 78% compared to the first quarter of 2025, and up 12% sequentially, resulting in another very strong book-to-bill ratio of 1.24 to 1.

Bear points

  • Sequentially, sales grew by 2%, which was in line with our expectations coming into the quarter.
  • Sequentially, our sales moderated by 3% from the fourth quarter, which was better than our expectations coming into the quarter.
  • The automotive market represents 11% of our sales in the quarter.
Read full transcript analysis ›