Analyst John Butters says through Q3 to date five of the Big Seven tech stocks
have EPS growth trailing the rest of the S&P 500. With NVIDIA and Apple yet to
report, the seven’s aggregate EPS growth estimate has slid to 22.6% from 33.6% a
month ago, versus 32.6% for the other 493 S&P constituents. That would be the
first quarter since Q4 2022 that the Big Seven’s profit growth lags the broader
index; analysts expect the trend to continue into Q4.
