CommScope Holding Co. reached a deal to sell its broadband and cable equipment arm to Amphenol Corp. for about $10.5 billion in cash, the second such deal it’s done with Amphenol as part of a series of divestitures aimed at paying off debt.

A boom in artificial intelligence and heightened demand for data centers has boosted Amphenol’s business as more companies seek to use its products. The CCS deal would be Amphenol’s largest acquisition to date.

Amphenol's operating momentum is exceptional, driven by strong organic growth and strategic M&A. But read why I am cautious about chasing APH stock now.