A number of big-name FTSE 100 and FTSE 250 shares are set to release fresh trading updates in the month ahead. I’ve been searching the financial calendar to see which could outperform expectations.

Accurately predicting near-term share price movements is a famously difficult business. Even if a listed company reports blowout sales or profits growth, it could still fall if other factors spook investors. They can also reverse amid a broader drop in stock market confidence.

Still, let me tell you about Volex (LSE:VLX) — an AI stock from the FTSE 250 — and why I believe it’s share price could rise this month.

Rapid growth

Volex’s share price has been on a bumpy ride in 2026. It’s up 38% since 1 January, but trading has been volatile due to worries over a potential AI bubble.

This company makes high-speed direct attach cables (DACs) that are prized by data centres. And right now, demand is rocketing as AI infrastructure builds out at rapid pace, but that’s not all. Sales are also booming in other growth sectors like electric vehicles, renewable energy and healthcare.

Volex’s latest update on 19 October showed “year-on-year growth in every end-market” in the six months to September. Group organic sales were up an impressive 21%, while operating margins nudged closer to the firm’s medium-term target of 12%.

Combined, they prompted Volex to predict full-year profits “around the top-end of market forecasts.”

But here’s the thing, the share price dropped after what was largely another excellent update. Data centre orders have been a little cooler in recent months. And at a time of rising concern over AI growth, this has been enough to send Volex lower.

Good omens

As I mentioned, predicting near-term share price movements can be difficult. However, there are a couple of reasons why I think Volex could bounce back in November.

One is news of record revenues from its North American peer Amphenol, which on 28 October smashed analyst expectations and that sent its share price soaring. Full-year forecasts here were also raised, driven again by the booming AI sector.

The second reason why Volex shares may bounce back is that it now looks cheap. As I say, it’s up more than a third in value in 2026. But it has retraced 13% over the past month, which — to some analysts and commentators — leaves it looking extremely cheap.

A ‘cheap’ FTSE 250 share

At 566p, Volex’s share price today has a price-to-earnings (P/E) ratio of 17.2 times. That’s not conventionally cheap but is some way below Amphenol’s (30.6 times). It’s also under earnings multiples of other sector peers including TE Connectivity (19.9) and Huber+Suhner (34).

And I feel a reassuring trading update this month could be the spark that prompts value investors to dive in. Volex’s half-year report is scheduled for release on 12 November.

I think Volex could be a top share to consider for both short- and long-term investors. Just be mindful that this is a riskier pick than usual in the current climate. If you’re not convinced, take a look at the top growth share discussed in depth in the free wealth report below.

What growth stock do we like better than Volex Plc right now?

One of our Share Advisor analysts has just released a brand new stock report that we think is a must-read for any investor looking to try and generate potential growth.

And the best bit is that you can see it for yourself, right now, absolutely free of charge!

No jargon. No hard sell. Just a clear look at a growth share idea we think is worth your time.

Royston Wild does not hold any positions in the companies mentioned.