To be fair (and I’m always hugely fair when it comes to being very very fair), Q2 Earnings Season has not only been “better than expected”, but non-recessionary (i.e. NEGATIVE y/y EPS). Here’s the real-time data dump on that:
Oh, you weren’t told about Part 3 of the ongoing US Earnings #Slowing story, eh? Of course not. The Old Wall and its media only talks about the upside. “So” let’s only talk about AAPL’s beat today!
As Tech enters its #EarningsRecession, the 2 Sectors of the SP500 who are already in a clean cut #EPSRecession remain:
A) Energy (12 of 29 companies have reported an aggregate year-over-year (y/y) DECLINE of -8.8%)
If you’ve been long and/or “overweight” either Energy or Materials since we made the Full Cycle Investing turn call back in SEP of 2018, I’ll pray for your family and their offices.