Positive: Strong Q2 earnings growth expected, especially in tech sector with positive revisions for major companies.

From Nasdaq: 2024-06-27 05:29:00

S&P 500 Q2 earnings expected to rise by +8.2% year-over-year with +4.6% higher revenues, highest growth rate since Q1 2022. Energy sector earnings turning positive in Q2 after four consecutive negative quarters. Tech sector earnings estimated to grow by +15.5% in Q2, with positive revisions for major companies like Meta Platforms and Nvidia.

Tech sector margins expected to increase in 2024, driven by higher-margin software and services. 12 of 16 sectors projected to have higher margins in 2024, with Tech, Basic Materials, Medical, and Consumer Discretionary leading the gains. Revenue weakness in the Finance sector offset by overall revenue growth of +1.7%. Zacks offers top stock picks with average gains of +44.9% to +55.2% yearly since 2000.

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