Market analyst John Barts said that since the third quarter, five of the “Big Seven Tech” companies have lagged behind other components of the S&P 500 index in terms of earnings per share growth. Nvidia and Apple have yet to announce their latest quarterly results, but Butts said that the expected increase in the total earnings per share of the tech giants has fallen to 22.6% from 33.6% a month ago. In contrast, the combined earnings per share of the remaining 493 companies in the S&P 500 index increased by 32.6%. This means that for the first time since the fourth quarter of 2022, the profit growth rate of the Big Seven is expected to be lower than that of other components of the S&P 500 index. Analysts expect this trend to continue in the fourth quarter of this year.

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