Six Big Tech Companies Propped Up the S&P 500

What We're Showing

S&P 500 earnings growth (year-over-year) for Q4 2023, using analysis from FactSet.

What to Know

• Six big tech companies (Alphabet, Apple, Amazon, Meta, Microsoft, and Nvidia) helped drive the value of the S&P 500 higher. Without these six companies, SPX's blended earnings would've been -1.4%
• Tesla is the only “Magnificent 7” member that is not a positive contributor to year-over-year earnings growth
• Many of these companies are reporting earnings in coming days. Microsoft and Alphabet on Jan 30, 2023; and Apple, Amazon, and Meta on Feb 1, 2023