12 Most Promising Growth Stocks to Buy Now

6. Amphenol Corporation (NYSE:APH)

Stock Upside Potential: 25.50%

Expected 5-Year Earnings Growth: 23.51%

Number of Hedge Fund Holders: 112

Amphenol Corporation (NYSE:APH) is one of the most promising growth stocks to buy now. On May 27, Evercore ISI reiterated an Outperform rating on Amphenol Corporation (NYSE:APH) and maintained a $180 price target.

The bullish stance comes as the research firm expects the company’s revenue base to receive a boost of between $1.2 billion and $1.5 billion from the CommScope acquisition. It also expects the company’s total data center fiber portfolio to reach about $3 billion, making it one of the largest in AI and data center fiber connectivity.

Consequently, Evercore ISI expects Amphenol’s annualized AI revenue run rate to exceed $9 billion by year-end, up from between $2 billion and $2.2 billion in the first quarter. It also estimates Corning’s enterprise fiber to reach approximately $4 billion. The robust growth would come as the CommScope acquisition continues to provide scaled positions across passive copper, active copper, and active fiber connectivity.

Amphenol Corporation (NYSE:APH) designs, manufactures, and markets electrical, electronic, and fiber optic connectors, cable assemblies, antennas, and sensors. The company supplies mission-critical components that connect and power devices across virtually every major technology and industrial sector.

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