Yardeni Says Analysts Still See S&P 500 Earnings Near $500 Per Share by 2028

Wall Street analysts continue to project S&P 500 earnings of roughly $500 per share by 2028, but Ed Yardeni of Yardeni Research is pushing back, forecasting $450 instead and labeling consensus estimates too bullish. The roughly 10% gap between the two figures highlights a growing divide over the durability of corporate profit growth into the late decade. Yardeni's more cautious stance suggests analysts may be underestimating risks to margins and economic growth. Investors will be watching upcoming earnings seasons and macroeconomic data to see whether consensus estimates get revised down toward Yardeni's target.