Amphenol: Quick takeaways from “View from the Top” with Chairman & CEO Adam Norwitt

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Amphenol: Quick takeaways from “View from the Top” with Chairman & CEO Adam Norwitt

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Amphenol

Quick takeaways from “View from the

Top” with Chairman & CEO Adam Norwitt

Maintain Rating: BUY | PO: 180.00 USD | Price: 154.07 USD

Timeless nature to Amphenol’s execution excellence 09 June 2026

We hosted Mr. Adam Norwitt (6th time) in our offices as part of our View from the Top Equity

CEO Call Series. APH’s enduring competitive advantage stems from its decentralized

operating culture that enables APH to compound through cycles, acquisitions, and tech Wamsi Mohan Research Analyst

transitions. APH operates ~350 factories across ~45 countries, and the culture has BofAS

continued to scale while leveraging local authority, accountability, speed, and customer +1wamsi.mohan@bofa.com646 855 3854

proximity. We see APH as a broad-based compounder with meaningful AI optionality, Ruplu Bhattacharya

expanding optical exposure through CCS, with large runway in many growth markets Research Analyst

BofAS

including Space, Robotics, Energy, etc. We maintain our Buy rating on strong execution, +1 646 855 0315

sustained incremental margins above 30% (organically), sustained double-digit organic ruplu.bhattacharya@bofa.com

growth, and successful acquisition program. Ryan Seungin Choi

Research Analyst

APH well positioned as AI interconnect market grows BofAS+1 646 743 0587

ryan.choi2@bofa.com

Copper & optical interconnect are complementary tech that solve different trade-offs

(cost, power, reach, bandwidth, etc.). APH benefits from the growth of the overall AislingResearchGrueningerAnalyst

market, strong positioning in active and passive copper and optical interconnect, and BofAS

+1 646 855 4273

ability to execute and take share.