The earnings growth of the Magnificent Seven may lag the rest of the S&P 500 for the first time since late 2022.

PANews November 1 news, according to Jinshi, market analyst John Butters said that so far in the third quarter, five of the "Magnificent Seven" tech companies have seen EPS growth lag behind the rest of the S&P 500 constituents. Nvidia and Apple have not yet reported their latest quarterly results, but Butters said the combined expected EPS growth for the Magnificent Seven has dropped to 22.6% from 33.6% a month earlier. By comparison, the combined EPS growth for the other 493 companies in the S&P 500 is 32.6%. This means the earnings growth of the Magnificent Seven is expected to fall below that of the rest of the S&P 500 constituents for the first time since the fourth quarter of 2022. Analysts expect this trend to continue in the fourth quarter of this year.