Analyst: Magnificent Seven earnings growth may lag the rest of the S&P 500 for the first time since late 2022

Odaily reports: Market analyst John Butters stated that so far in the third quarter, five of the "Magnificent Seven" companies have seen their earnings per share growth lag behind the other constituents of the S&P 500. Nvidia and Apple have not yet reported their latest quarterly results, but Butters noted that the combined expected earnings per share growth for the Magnificent Seven has dropped from 33.6% a month ago to 22.6%. In comparison, the combined earnings per share growth for the remaining 493 companies in the S&P 500 is 32.6%. This means the earnings growth of the Magnificent Seven is expected to fall below that of the rest of the S&P 500 for the first time since the fourth quarter of 2022.

Analysts expect this trend to continue in the fourth quarter of this year. (Jinshi)