# Amphenol Stock Q3 2026: Sales Up 65% on AI Datacom Demand
> Amphenol stock Q3 2026: sales rose 65% to $10.23bn, orders reached $12.2bn and AI-driven IT datacom was 48% of sales. APH earnings and guidance.

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## Facts
- Ticker: APH
- QSILabs fair value: $44.58 USD
- Price: $79.84 (as of 2026-11-02)
- As of: Q3 2026 results (quarter ended 2026-09-30, reported 2026-10-28) and Form 10-Q filed 2026-10-30; price as of 2026-11-02 close
- Fiscal period: Q3 2026 (July-September 2026)
- Published: 2026-11-02
- Updated: 2026-11-02
- Author: QSI Labs Research
- Canonical: https://www.quantitativesuperintelligencelabs.com/research/amphenol-stock-q3-2026-earnings-ai-datacom-orders/

## Short answer
Amphenol stock Q3 2026 comes down to a quarter in which demand for the connectors and cables inside AI data centres kept rising faster than the company expected. Sales for the three months to 30 September 2026 rose 65.1% to $10.23bn, 37% of it organic growth and the rest from acquisitions led by CommScope's connectivity business. Amphenol reported what it called "record third quarter 2026 results", with orders of $12.17bn, a book-to-bill ratio of 1.19, and GAAP operating margin of 29.5%. It guided fourth-quarter sales to $10.3bn to $10.5bn. Our discounted cash flow model values Amphenol at $44.58 a share, about 44% below the $79.84 close on 2 November 2026. The share price assumes faster growth for longer, or a lower cost of capital, than our model, which follows consensus to 2028 and then slows growth to 2.5% by 2035.

## Key takeaways
- Sales up 65.1%. Third-quarter sales were $10,229.7m, against $6,194.4m a year earlier and $8,758.1m in the June quarter. Organic growth was 37% and acquisitions added 28 points.
- AI drives IT datacom. IT datacom was 48% of sales and grew 100% in US dollars and 77% organically. Chief executive Adam Norwitt said AI now represents about three-quarters of Amphenol's IT datacom sales.
- Orders ahead of sales. Orders were $12.17bn, up 99% on a year earlier and 13% on the June quarter, a book-to-bill ratio of 1.19. Amphenol said they were record orders.
- Margins rose. GAAP operating margin was 29.5%, against 27.5% a year earlier, and adjusted operating margin 29.7%. GAAP diluted EPS rose 61% to $0.79 and adjusted EPS 74% to $0.80.
- Guidance. Amphenol expects fourth-quarter sales of $10.3bn to $10.5bn, 60% to 63% above a year earlier, and full-year 2026 sales of $36.9bn to $37.1bn, with adjusted EPS of $2.82 to $2.84.
- More cash for shareholders. Free cash flow was $1.62bn. The board raised the quarterly dividend 20% to $0.15 and approved a new three-year, $4bn share repurchase programme from 1 January 2027.
- Our value: $44.58 a share, against a $79.84 close on 2 November 2026. A two-stage cross-check gives $46.15, and the highest value in our sensitivity grid is $51.43. Analysts' average target is $106.97.
- What to watch. Whether AI orders keep running ahead of sales, the decline in communications networks sales, the integration of CommScope and four smaller deals, and a 27.0% adjusted tax rate that Amphenol raised after tax rulings in China.

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