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Goldman Sachs added the stock to its Conviction List, indicating a strong positive outlook.

In Tech, Semis +1% continuing to rally on the back of Korea’s KOSPI’s 7% gain. Overall, earnings mixed overnight in the space with SKHY, VRT, GEV, FLEX, APH all betterand STX, NXPI, TER, FFIV mixed.

JPM sees networking as an increasingly critical gating factor in AI data center infrastructure, which favors Amphenol alongside other compute and foundry beneficiaries.

The company is well-positioned to benefit from AI Datacom growth, with revenue estimates significantly above Street expectations.

Networking/connectivity names, including APH, should benefit as disaggregated inference drives more east-west traffic.

SNDK is viewed as the clearest beneficiary as KV cache and suspended agent state spill into flash, while WDC/STX benefit from logs/traces, P/NTAP from enterprise context storage, and DELL/HPE from higher CPU/DRAM/NAND content. Networking/connectivity names...

GS says after meeting CEO Adam Norwitt, CFO Craig Lampo and VP Strategy & IR Sherri Scribner, management remains bullish on AI infrastructure with both copper and fiber content expected to stay important as architectures scale. CommScope meaningfully expand...

The company is seeing improvements in VR Ultras backplane density and broadening AI connectivity opportunities.

Evercore ISI believes APH’s new 448G/XtremePass CPC/Zetamax products broaden its exposure across scale-up/scale-out connectivity as higher signaling speeds push more links off PCB traces and into high-speed cable assemblies.

ISI says APH is well positioned as optics move closer to compute, with C-LINK/CPO-related products alongside copper solutions, while power content is rising through 400VDC, busbars, and liquid-cooling integration.

ISI views APH as increasingly architecture-agnostic across copper, optics, power, and thermal as AI infrastructure shifts from server-scale towards rack- and pod-scale designs.

The Rubin Ultra's latest design is targeting double the backplane density compared to VR/GB, which could lead to over 60% content lift for Amphenol.

The shift from traditional 48V architectures to 800V power delivery in AI datacenters creates a multi-billion-dollar opportunity, driven by rising rack power requirements and the need to reduce amperage, heat, and copper intensity. APH is among the best-positioned beneficiaries, with opportunities spanning power interconnects, power management, wide-bandgap semiconductors, and grid infrastructure. The AI power interconnect TAM could expand from roughly $2B today to over $4B by 2028, while power management and WBG-related opportunities grow into multi-billion-dollar markets. Power is becoming a critical bottleneck in AI infrastructure, creating a new investment cycle that extends well beyond GPUs and networking.

The stock was helped by positive management commentary during a roadshow this week, contributing to a significant positive shift in copper sentiment.

JPM argues that networking is increasingly becoming the key bottleneck and performance gating factor for AI infrastructure, leading it to favor networking names over pure compute exposure.

The stock was upgraded to Buy with a $145 PT, as shares are considered oversold on concerns that optics will cannibalize copper in AI racks, but copper is expected to remain dominant for at least two more years.

IT Datacom orders grew significantly and now represent a larger portion of sales, with order growth accelerating.

Management raised its incremental margin target, indicating a positive shift in mix towards higher-value verticals.