JPMorgan Raises Amphenol Price Target Ahead of Q1 Earnings

Amphenol Corporation (NYSE:APH) has cemented its position as a primary supplier of high-tech interconnects for artificial intelligence data centres, a status that has attracted renewed attention from institutional investors. This strategic standing was significantly bolstered by the acquisition of CommScope's Connectivity and Cable Solutions business in mid-2025, a move that contributed to a record year in financial results.

Ahead of the company's scheduled Q1 earnings release on 29 April, JPMorgan analyst Samik Chatterjee has increased his price target on Amphenol from $185 to $190. The analyst maintains an Overweight rating on the stock, citing infrastructure investment as a major driver for upside among AI-levered suppliers in the current quarter.

Analysts project adjusted earnings per share of $0.95 for the upcoming reporting period, a significant increase from $0.63 a year ago. Revenue is forecast to reach approximately $7.09 billion, representing a 47 per cent year-on-year rise. These figures reflect the growing demand for high-speed connectivity solutions within the expanding AI infrastructure sector.

The company, which operates through segments including Communications Solutions, Harsh Environment Solutions, and Interconnect & Sensor Systems, has drawn particular interest for its role in the NVIDIA supply chain. While the acquisition of CommScope expanded leadership in high-speed connectivity, analysts note that the specific impact on long-term conversion rates for AI data centres remains to be fully realised and validated by future operational data.

Despite the bullish outlook from JPMorgan, some market narratives suggest that certain other artificial intelligence stocks may offer greater upside potential with less downside risk. Wall Street generally expects significant growth in the sector, though opinions vary on the optimal allocation within the broader portfolio of tech equities.

Amphenol's five-year forward earnings per share growth rate is estimated to be over 15 per cent, reinforcing its profile as a long-term growth candidate. However, the accuracy of these projections relies heavily on the company meeting Wall Street expectations ahead of the earnings release later this month.