What's Fueling Wall Street's 90-Day Optimism on Amphenol (APH)?
On May 27, Citi raised the firm's price target on Amphenol (APH) to $100 from $85 and kept a 'Buy' rating on the shares. Amphenol Corporation designs, manufactures, and markets electrical, electronic, and fiber optic connectors. The firm also introduced a '90-day short-term positive outlook' on the stock, citing growing demand for connectors on NVLink Fusion.
A team of technicians assembling a complex electrical connector in a factory environment.
The analyst told investors in a research note that an improving artificial intelligence outlook and expansion of Nvidia's proprietary interconnect technology, NVLink, to other manufacturers is likely to improve the demand for current high-speed, low-latency connectors that are used in the existing Nvidia-based GB200 AI systems.
This is good news for connector companies such as Amphenol, which has a leading share in the high-speed low low-latency interconnect market.
Overall, APH ranks 8th on our list of AI stocks that are on analyst's radar today. While we acknowledge the potential of APH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than APH and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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