• Amphenol reported second-quarter sales of US$5.65 billion and net income of US$1.09 billion, with earnings rising markedly compared to the previous year, and completed a major share repurchase program between April and July 2025.
• An interesting takeaway is that over half of quarterly revenue came from non-China international operations, surpassing expectations even as China revenue lagged analyst forecasts.
• We'll explore how robust international sales and upbeat third-quarter guidance shape Amphenol's ongoing investment narrative and outlook.

Find companies with promising cash flow potential yet trading below their fair value.

Amphenol Investment Narrative Recap

To be a shareholder in Amphenol today, you need confidence in the company’s ability to sustain demand in high-performance datacom and AI infrastructure, while managing the risks of volatile sector spending and potential near-term shifts if current growth is “pulled forward.” The recent Q2 earnings and the completed buyback program are positive signals for financial strength, but do not fundamentally change the short-term catalyst, the resilience of end-market demand amid possible cyclicality remains front and center. Risk from lumpy customer investment continues to be the key challenge, with the latest updates having a limited direct effect on this factor.

Among recent announcements, Amphenol’s third quarter sales guidance stands out, projecting a year-over-year increase of 34% to 36%. This outlook reinforces the current catalyst of strong global technology adoption, particularly in high-speed interconnects, but also leaves the company’s exposure to cyclical technology markets an ongoing factor to watch.

In contrast, investors should pay close attention to how sudden slowdowns in datacenter or AI spending might impact...

Read the full narrative on Amphenol (it's free!)

Amphenol's narrative projects $27.8 billion revenue and $5.0 billion earnings by 2028. This requires 13.9% yearly revenue growth and a $1.8 billion earnings increase from $3.2 billion currently.

Uncover how Amphenol's forecasts yield a $113.56 fair value, a 7% upside to its current price.

Exploring Other Perspectives

The Simply Wall St Community provided four fair value estimates for Amphenol, ranging from US$89.66 to US$113.56. While these views vary, many are weighing ongoing sector growth against the risk of unpredictable demand in key end markets, giving you plenty of perspectives to consider.

Explore 4 other fair value estimates on Amphenol - why the stock might be worth 16% less than the current price!

Build Your Own Amphenol Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Amphenol research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Amphenol research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Amphenol's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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