...yes, this is why the strong representation of the megacap...

...yes, this is why the strong representation of the megacap techs in the S&P500 has greatly distorted the EPS growth profile of the S&P500.

...typically projections on S&P500 would take forward EPS (of the 500 stocks) x the PE multiple (as deem appropriate). So when the large techs report big EPS, the blended EPS becomes distorted and under-represents the lack of growth experienced by the non-techs.


What would you say if someone told you that S&P 500 ex tech earnings topped two years ago?

https://x.com/MichaelAArouet/status/1789316770592907280