We recently compiled a list of the These 10 Companies Led Gains on Wednesday. In this article, we are going to take a look at where Amphenol Corporation (NYSE:APH) stands against the other stocks.

Wall Street’s main indices ended firmer on Wednesday as share prices remained boosted by positive catalysts from President Donald Trump's inauguration coupled with better-than-expected earnings performance.

The Dow rose by 0.30 percent, the S&P 500 grew 0.61 percent, while the Nasdaq Composite increased 1.28 percent.

Meanwhile, 10 companies under mixed sectors mirrored Wall Street's gains. In this article, we will look at which companies led the rally and explore the reasons behind their impressive performance.

To come up with Wednesday's top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A team of technicians assembling a complex electrical connector in a factory environment.

Amphenol Corporation (NYSE:APH)

Amphenol Corporation (NYSE:APH), one of the leading manufacturers of fiber optic connectors, antennas, and specialty cables, saw its share prices surge by 7.04 percent to finish at $77.84 per share as investors took heart from better-than-expected earnings performance.

On Wednesday, Amphenol hit an earnings-per-share for the fourth quarter of the year settled at $0.55, higher than the $0.50 projected by analysts.

In addition, sales jumped by 30 percent to $4.318 billion owed to its AI interconnect technologies and strategic market diversification.

Notably, the IT Datacom market, driven by AI applications, saw a 76-percent increase in sales.

In the first quarter of the year, Amphenol expects sales to settle between $4 billion to $4.1 billion, with adjusted EPS guidance of $0.49 to $0.51.

The company also anticipates continued growth in AI-related investments and a mid-single-digit sequential increase in the IT Datacom market.

Overall APH ranks 8th on our list of companies that led gains on Wednesday. While we acknowledge the potential of APH as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than APH but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

 

Disclosure: None. This article is originally published at Insider Monkey.