By Nate Wolf

Shares of Amphenol looked set to end Tuesday in the black despite plummeting to begin the session.

The maker of cables, sensors, and other connectors used in data centers got rocked after Nvidia CEO Jensen Huang unveiled the company's new Rubin artificial-intelligence chip platform at CES 2026. The platform has a cable-free design, so a bit of panic was understandable.

Amphenol stock dropped as much as 6.6% in early trading, but it roared back after those initial worries dissipated. Shares were up 0.7% shortly ahead of the close to $140.84.

While Rubin will eliminate cabling, the platform will require denser use of connectors, which should directly benefit Amphenol, said analysts at Evercore ISI in a research note Tuesday. Amphenol already provides a significant share of the content in Nvidia's Blackwell platform, and Evercore sees this share increasing by 20% to 40% for Rubin.

"Although the transition to Rubin introduces changes in the mix of cabling content, we believe APH remains a critical enabler of next-generation AI infrastructure," the Evercore team wrote, adding that Rubin "should favor suppliers like APH who can support elevated speed, power, and integration requirements."

Evercore maintained an Outperform rating and a $150 price target on Amphenol shares.

Amphenol was a Barron's stock pick last January. It has returned 96% since then.

Write to Nate Wolf at nate.wolf@barrons.com

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January 06, 2026 15:36 ET (20:36 GMT)

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