Amphenol Corp (APH): A Quiet Giant Powering the AI Buildout
Founded in 1932, Amphenol (NYSE: APH) has been around for nearly a century, but its latest growth driver is anything but old-fashioned. What started as a supplier of connectors for radios has evolved into one of the most important behind-the-scenes players in the global buildout of AI infrastructure.
The company makes the rugged connectors, sensors, fiber-optic modules, and interconnects that tie together everything from printed circuit boards to data center power systems. And that makes Amphenol critical to the entire AI stack—from servers and GPUs to broadband networks and high-density power systems.
The biggest catalyst right now is Amphenol’s Communications Solutions segment, which accounts for 45% of total revenue and is seeing rapid growth from broadband, mobile networks, and especially AI-related data center deployments. The company’s IT datacom segment grew 134% organically year-over-year in Q1 2025, with much of that growth tied directly to demand for artificial intelligence infrastructure.
It’s not just the top line that’s accelerating. Amphenol reported record quarterly revenue of $4.8 billion in Q1, up 48% year-over-year, and earnings per share jumped 58% to $0.63. Their adjusted operating margin expanded 250 basis points to 23.5%, thanks to strong volume and operating leverage. In short: demand is booming, and they’re converting it into profits.
The company’s CEO put it plainly:
“It is a revolution that creates for our industry a disproportionate opportunity… It’s a more interconnected-intensive revolution, and we’ve taken more than our fair share of that.”
Technically, APH has also been one of the strongest stocks in the market. Since 2020, it’s spent 82% of the time above its 200-day moving average—a rare sign of long-term institutional support and sustained demand. For reference, even Nvidia—arguably the top-performing stock of the last decade—spent 80% of that time above its 200-day.
The stock recently surged after earnings and is now consolidating just below short-term overbought levels. If it dips back into the high $80s, that could present a tactical entry. But for long-term investors, this may simply be one of those names where waiting for the “perfect” price means missing it altogether.
With a proven management team, a critical role in the AI infrastructure supply chain, and a rock-solid track record of both technical and fundamental strength, Amphenol is the kind of under-the-radar stock that could quietly double again—while others are still chasing the headlines.
