Oct. 22 at 12:18 PM
$APH Catalysts (next 1–2 quarters):
• Integration & close milestones: Tracking Trexon (defense interconnect) closing by Q4’25 and Commscope CCS (fiber/structured cabling) by Q1’26; both expand exposure to AI/datacom and defense. 
•. Datacenter cycle: Hyperscaler rack builds, co-packaged optics trends, and next-gen Ethernet/optical transitions (800G→1.6T) support elevated mix/margins in Comms Solutions. 
•. Capital returns: Newly increased dividend and ongoing buybacks (
$153M in Q3) support TSR.
• Management flagged continued broad-based demand, with “exceptional” IT/datacom growth and ongoing benefits from M&A.

• Portfolio moves: Closed Rochester Sensors (Aug) and reiterated timelines for Trexon (target close Q4’25) and CommScope’s CCS business (now expected by Q1’26).
$COMM $TEL $SPY
