John Butters: Magnificent Seven EPS Growth May Trail S&P 500 Peers for First Time Since Q4 2022

According to Jin10, market analyst John Butters said five of the Magnificent Seven companies have posted slower earnings-per-share growth than the other S&P 500 constituents so far in the third quarter. Nvidia and Apple have yet to report their latest quarterly results, but expected combined EPS growth for the Magnificent Seven has fallen to 22.6% from 33.6% a month ago, compared with 32.6% for the other 493 S&P 500 companies. The Magnificent Seven’s earnings growth may fall below that of the other S&P 500 constituents for the first time since the fourth quarter of 2022, and analysts expect the trend to continue in the fourth quarter this year.