Amphenol in focus as BofA sees benefits from Nvidia's NVLink Fusion

Amphenol (NYSE:APH) was in focus on Wednesday as Bank of America said Nvidia’s recently announced NVLink Fusion product should boost its total addressable market.
“The announcement expands the known NVLink architecture TAM from pure NVDA silicon to including certain mixed vendor systems, although [it] does still require some NVDA silicon in the system,” Bank of America analyst Wamsi Mohan wrote in a note to clients. “[We] reiterate Neutral, as positives of strong near-term AI trajectory could be somewhat offset by broader macro headwinds.”
Delving deeper, Mohan said the NVLink Fusion should be a “tailwind” for Amphenol, given that cloud service providers are likely to use the traditional Nvidia Grace Blackwell 200 and 300 series, thus boosting demand for Amphenol’s copper cables.
Mohan also upped his price target on Amphenol to $90 from $85 in conjunction with the reiterated Neutral rating.

Amphenol in focus as BofA sees benefits from Nvidia’s NVLink Fusion