Since then, those technology titans have crushed the rest of the market in earnings growth and returns.
By contrast, the other 493 stocks in the S&P 500 saw their earnings fall in 2023.
The firm is calling for 17% earnings growth in the fourth quarter, both for stocks in and out of the Magnificent 7.
All 11 market sectors will enjoy earnings growth in Q4 for the first time since Q2 of 2021, according to JPMAM's projections.
That includes healthcare, energy, and materials, which saw earnings decline earlier this year.
Persons:
Tesla, Stocks, Santos, JPMAM
Organizations:
Asset Management, Apple, Meta, Microsoft, Nvidia