Wall Street’s expectations for company profit growth are rising at the fastest pace since the post-pandemic rebound, fuelling concern that an “earnings bubble” could be forming in the estimates that have underpinned the US stock market’s rally.
Analysts are now forecasting a 25 per cent increase in S&P 500 company earnings for the coming year, according to Bloomberg data, boosted by a resilient US economy and the AI boom.
However, just ahead of the second-quarter earnings season, some investors are growing concerned about the speed at which analysts’ estimates are rising. Some fear rising costs for AI companies, a drop in demand for the technology or a difficulty turning spending into profits could see earnings fall short.
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