BusinessPhoto: HT BusinessEarnings Growth Driven by Few AI and Energy Giants
Wall Street's optimism about stock market gains is largely based on a surge in corporate earnings, with analysts expecting a 30% rise in S&P 500 third-quarter earnings year-over-year. However, just two companies, Nvidia and Micron, contribute 34% of this growth. About 10 companies, including Broadcom and Meta Platforms, account for two-thirds of the profit increase, highlighting a heavy reliance on a few AI and energy firms.
HT Business·