'Magnificent 7' Expected To Do Heavy Lifting Yet Again For Q1 Earnings, But Will The Other '493' On S&P 500 Fire On All Cylinders? Analyst Weighs In
Portfolio Pulse from Shanthi Rexaline
Analyst Jeffrey Buchbinder of LPL Financial predicts a 6% S&P 500 earnings growth for Q1, driven by big tech companies like Alphabet, Amazon, Microsoft, Meta Platforms, and Nvidia, despite challenges such as inflation and rising interest rates. The 'Magnificent 7' are expected to significantly outperform the rest of the S&P 500, with a projected 40% year-over-year earnings growth for these tech giants. However, Apple and Tesla are anticipated to see earnings decline. The SPDR S&P 500 ETF Trust (SPY) experienced a slight premarket dip but has risen 9.47% in Q1.
April 09, 2024 | 9:20 am
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NEGATIVE IMPACT
Apple is anticipated to see an earnings decline in Q1, which could negatively impact its stock price.
Apple's anticipated earnings decline in Q1 could lead to a negative short-term impact on its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Tesla is poised to see an earnings decline in Q1, potentially negatively affecting its stock price.
Tesla's expected earnings decline in Q1 could have a negative short-term impact on its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Amazon is expected to see year-over-year earnings growth in Q1, positively impacting its stock price.
Amazon's expected earnings growth in Q1 is likely to be a bullish signal for its stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Alphabet is expected to report year-over-year earnings growth in Q1, contributing to the S&P 500's overall performance.
Alphabet's anticipated earnings growth is a positive signal for investors, likely driving its stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Meta Platforms is expected to report year-over-year earnings growth in Q1, positively influencing its stock price.
Meta Platforms' anticipated earnings growth in Q1 is likely to drive its stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Microsoft is poised for year-over-year earnings growth in Q1, likely boosting its stock price.
Microsoft's expected earnings growth in Q1 suggests a positive outlook for its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Nvidia is expected to see year-over-year earnings growth in Q1, likely benefiting its stock price.
Nvidia's expected earnings growth in Q1 is a positive indicator for its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) saw a slight premarket dip but has risen 9.47% in Q1, reflecting optimism in the broader market.
SPY's Q1 performance and slight premarket dip reflect broader market trends and investor sentiment, likely influencing its short-term price movement.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80