The Magnificent 7's lead in driving most of the S&P 500's earnings growth could soon come to an end, as analysts project earnings for the second quarter of 2024 will show slowing growth among the group, while t🍬he other 493 companies are expected to post the first growth quar꧒ter since the fourth quarter of 2022.

The Magnificent 7, a group that includes Microsoft (MSFT), Amazon (AMZN), Meta (META), Apple (AAPL), Alphabet (GOOGL), Nvidia (NVDA) and Tesla (TSLA), dominated S&P 500 earnings growth in the last three quarters, bཧut Bank of America analysts expect second-♚quarter results to show growth broadening beyond the small group of stocks.

S&P 500's 'Other 493' To Post Earnings Growth

S&P 500 companies excluding the Magnificent 7 are expected to post the꧙ir first growth quarter since the fourth quarter of 2022, according to Bank of America analysts.

The analysts project a slowdown for the Magnificent 7 🗹while the other 493 constituents in the S&P 500 grow, reflecting what could be the start of a trend of growth broadening across the market.

They estimate second-quarter earnings will show 10% year-over-year growth for the S&P 500 and 6% for the index excluding the Magnificent 7, the first posit🍎ive change since the fourth quarter of 2022.

The analysts said overall they expect "a typical 2% beat" for S&P 500 澳洲幸运5开奖号码历史查询:earnings per share (EPS) in the second quarter. A 2% be🅷at would be in line with the historica🍸l average, but would be the smallest quarterly EPS beat recorded since the fourth quarter of 2022.

Magnificent 7's Growth To Slow For Second Straight Quarter

The Magnificent 7 drove S&P 500 earnings growth in the last three quarters and accounted for more than half (59.5%) of the S&P 500's total return in the first half of the year, according to data from LPL Financial. However, analysts expect the group to post its second quarter of slowing earnings growth in a row.

While the Magnificent 7's slowing growth is expected to be made up for by the other 493 companies in the S&P 500, lackluster earnings for the group could leave investors wondering if the ride of the 澳洲幸运5开奖号码历史查询:Magnificent 7 is coming to an end.

Enthusiasm for 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) has contributed to the Magnificent 7's strong performance in recent quarters, but some experts have raised concerns that 澳洲幸运5开奖号码历史查询:investors' expectations have become sꦓo high that the 澳洲幸运5开奖号码历史查询:companies💎 could struggle to meet them.

Since the start of 2024, Nvidia, Meta, Alphabet, Amazon, Microsoft, and Apple have outpaced the S&P 500. Tesla is the only member of the Magnificent 7 that has not, having gained only 6.6% over the period after erasing its first-half losses with the recent rally fueled by better-tha൩n-expecte🌳d second-quarter delivery numbers and 澳洲幸运5开奖号༒码历史查询:anticipation around the🎃 upcoming robotaxi.