Record Earnings Announcement Followed by a 25 Trillion Won Drop in AI Component Stocks

Shares of U.S. electrical and electronic connector heavyweight Amphenol Corp. (NYSE: APH) tumbled 12.1% on the New York Stock Exchange on the 28th, closing at $145.99. Trading volume exceeded 22.92 million shares, and the company’s market capitalization fell by roughly $19.2 billion in a single day, wiping out about $178.6 billion (approximately ₩230 trillion) of value.

Despite reporting a blowout fourth-quarter 2025—$6.4 billion in revenue (about ₩8 trillion) and adjusted EPS of $0.97, well above consensus—and guiding to 43–45% revenue growth for Q1 2026, investors unloaded shares amid worries over slowing organic growth and heavy reliance on the CommScope CCS acquisition. After more than doubling over the past two years on AI data-center optimism, some Wall Street analysts trimmed price targets, arguing that valuation had gotten ahead of itself.

Amphenol is a global leader in electrical, electronic and fiber-optic connectors and interconnect systems, serving data centers, communications, automotive and aerospace industries. Widely viewed as a key beneficiary of AI server rollouts and high-speed networking build-outs, the company posted full-year 2025 revenue of $23.1 billion (roughly ₩30 trillion) and adjusted diluted EPS of $3.34. Amphenol has completed five acquisitions—including the CommScope CCS business—and continues to pursue an aggressive M&A program while returning cash via dividends and share repurchases under its “growth-oriented dividend aristocrat” strategy.