1. Amphenol demonstrates strong operating momentum through organic growth and strategic acquisitions, including a recent $10.5B deal for CommScope's datacom assets at attractive multiples; 2. The CommScope acquisition enhances Amphenol's market position in datacom and is highly accretive, leveraging a valuation gap; 3. Despite robust results and deal-driven enthusiasm, the stock's elevated valuation (over 6x sales and 35x earnings) raises caution about near-term upside.