Analysts YTD have lowered 2024 EPS estimates for the S&P 493 by -2%, but raised estimates for the Magnificent 7 by +8%.
The aggregate $S&P 500(.SPX)$ EPS forecast is flat. $SPDR S&P 500 ETF Trust(SPY)$ $Apple(AAPL)$ $Amazon.com(AMZN)$ $Alphabet(GOOG)$ $Alphabet(GOOGL)$ $Meta Platforms, Inc.(META)$ $Microsoft(MSFT)$ $NVIDIA Corp(NVDA)$ $Tesla Motors(TSLA)$
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The P/E valuations of the 10 largest SPX stocks remain elevated compared to the rest of the market, but are still nowhere near Dot Com Bubble levels
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https://x.com/Marlin_Capital/status/1792890924504113441
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