TE Connectivity Hits Record High Yesterday, Market Cap Drops 7.6 Trillion Won in One Day

TE Connectivity (NASDAQ: TEL) shares plunged 9.1% to close at $221.04 on the 22nd in New York trading. Volume topped 4.04 million shares, and the company’s market capitalization stands at roughly $64.8 billion (about ₩91 trillion), with approximately $5.4 billion (₩7.6 trillion) erased in a single day.

The stock tumbled despite hitting a 52-week high of $252.35 a day earlier and posting fiscal 2026 second-quarter results that slightly beat expectations. Adjusted earnings per share of $2.73 topped consensus, and revenue of $4.74 billion exceeded forecasts. However, Truist Securities cut its price target from $244 to $240, citing concerns over a slowdown in data-center growth, which weighed on investor sentiment.

Headquartered in Ireland, TE Connectivity is a global electronics components company supplying connectors and sensors for automotive electronics, industrial equipment, communications and data centers, aerospace, and defense. It serves customers in more than 140 countries and employs around 90,000 people, making it a leading beneficiary of vehicle electrification and growing data-center investment.