The top three stocks (Nvidia, Microsoft, Apple) have already seen their year-over-year earnings growth peak last quarter and are trending down even under very bullish estimates for the next 12 months, and peaks in earnings growth typically align with peaks in multiples.
factualpending
Speaker
Jesse FelderEvidence Quote
“top three stocks Nvidia Microsoft and Apple...year-over-year earnings growth has already peaked last quarter and is trending down even on you know very bullish estimates...when you see that peak in earnings growth it also lines up with a peak in multiples [38:58]”
Created: 8/11/2026, 1:31:35 AM
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