Earnings and outlook upgrades
- Apr 24
- 1 min read
For those who are tracking the Q1 financial results and are wondering where the Earnings Per Share (EPS) upgrades are coming from, the graph below shows that there are only two key factors. This isn’t broad strength. It’s two trades:
AI / Tech capex boom
Commodities spike (energy + materials)
Everything else? Very marginal.
Sources: TME, Pantheon
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