Magnificent Seven earnings growth may trail rest of S&P 500 constituents for first time since late 2022

According to TechFlow, on November 1, market analyst John Butters said that so far in Q3, five of the Magnificent Seven companies have lagged the rest of the S&P 500 constituents in earnings per share (EPS) growth. Nvidia and Apple have yet to report their latest quarterly results, but Butters said the Magnificent Seven's combined expected EPS growth has declined from 33.6% a month ago to 22.6%. By comparison, the combined EPS growth of the remaining 493 S&P 500 constituents is 32.6%. This means the Magnificent Seven's earnings growth is expected to trail the rest of the S&P 500 constituents for the first time since Q4 2022. Analysts expect this trend to continue into Q4 this year. (Jin10)

Source: TechFlow