• TTM Technologies and Amphenol benefit from defense electronics supply chain.
• Both companies see revenue rise from AI data center spending and defense spending.
• TTM and Amphenol trade at relatively high multiples compared to major defense contractors.
• Both stocks have soared, with TTM up 88% and Amphenol up 21% this year.

This trend may indicate a shift in investor focus towards smaller, niche players in the defense industry, which could benefit from increased defense spending and modernization efforts. The performance of TTM and Amphenol suggests that companies with exposure to defense spending and AI infrastructure could see significant growth, which may attract more investors to this sector.