Tech Giants’ Earnings Growth May Lag S&P 500 Peers for First Time Since Late 2022
Original headline科技七巨头盈利增速或自 2022 年末以来首次落后标普 500 其余成分股
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On November 1, market analyst John Butters reported that five of the "Magnificent Seven" tech companies have so far posted Q3 earnings-per-share growth trailing the rest of the S&P 500, with NVIDIA and Apple yet to report. Aggregate EPS growth expectations for the Magnificent Seven have fallen from 33.6% a month ago to 22.6%, while the remaining 493 S&P 500 constituents are projected to post combined EPS growth of 32.6%. This puts the group on track for its first quarter of slower earnings growth than the broader index since Q4 2022. The shift matters because the Magnificent Seven have driven much of the market's earnings expansion in recent years, and a reversal could reshape sector leadership and index performance. Butters expects the trend to persist into Q4, making upcoming results from NVIDIA and Apple key catalysts to watch.
Muhabbit's AI wrote this summary in its own words from TechFlow's report and translated it from Chinese. It can get details wrong, so check the source.
Named in this story
S&P 500, Nvidia (NVDA), Apple (AAPL), John Butters
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