Munger Mode rating: 4 out of 5 — Buy. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Warren here, with Charlie chiming in throughout. TE Connectivity makes an enormous number of small, unglamorous parts — connectors, terminals, relays, and sensors — that cost pennies to a few dollars each and sit inside machines costing thousands to millions. The part is a rounding error in the customer's bill of materials, but if it fails, the car doesn't start, the data center goes dark, or the aircraft has a very bad day. That asymmetry — trivial cost, catastrophic failure consequence — is the seed of a genuine moat, because no engineer gets promoted for saving three cents on a connector that later corrodes. We judge TE to be a wonderful business of the industrial variety — not a See's Candies, but a durable, entrenched, mid-teens-return compounder with honest management — trading at a fair price after a 20% pullback from its highs.
Recent filings analysed: 10-Q (2026-07-24), 8-K (2026-07-22), 10-Q (2026-04-24), 8-K (2026-04-22).
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