From the Editor's Desk

Charted: Big Tech vs. S&P 500 Earnings Growth Forecasts

For Nvidia, chip demand is projected to ease as major buyers, such as Amazon and Microsoft, near capacity for building AI systems by 2026. Adding to this, the company could face increasing competition as new players enter the market, or established big tech companies begin to build chips in-house.

By contrast, the S&P 500 is projected to see moderate growth in annual earnings, bolstered by a strong U.S. economy. In Q2 2024, four sectors experienced double-digit earnings growth compared to the previous year: financials, communication services, health care, and information technology. Meanwhile, the energy sector has witnessed declines as prices across oil and natural gas have fallen significantly from 2022 peaks.

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