Mahn: Investors are focused on big tech earnings and AI infrastructure spend

Market Overview - Investors are currently focused on big tech earnings, AI infrastructure spending, and the overall status of the bull market rally rather than the Federal Reserve's potential actions in December [2][3] - The market has experienced short-term volatility, but this has led to increased buying activity, particularly in the "buy the dip" strategy, which is expected to continue through the fourth quarter of 2025 [3] Bull Market Insights - The current bull market has reached its three-year anniversary, and historical trends suggest that bull markets typically continue for an average of eight years after this milestone, indicating potential for another five years of growth [4] - There is a need for a broadening of the rally to sustain the bull market, as the leaders of the past three years may not necessarily lead in the future [5] Company Spotlight: Amphenol - Amphenol, a global supplier of connectors and interconnected solutions, reported strong third-quarter results, beating earnings and revenue estimates with a year-over-year sales growth of 53% [7] - The company recently acquired Comop's cabling and connectivity solutions business for approximately $10.5 billion in cash [7] - Amphenol's stock has increased over 100% year-to-date and is currently trading at a reasonable forward price-to-earnings ratio of around 34 times [7]