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.

2026-11-01

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.