Bull Tramples Even Wall Street’s Bulls: Are we in a stock market melt up?
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- Опубліковано 27 чер 2024
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The bull market has stampeded through some of the most optimistic price targets on Wall Street including ours. While we are sticking with our S&P 500 yearend target of 5400, we’re looking forward to the bull run lifting the index to 6000 by yearend 2025 and 6500 by yearend 2026. … Q1 earnings beat expectations causing industry analysts to revise upward their consensus estimates for this year and next. We lay out our forecast for continued revenues and earnings growth during the Roaring 2020s. … The stock market may be in a meltup, so we revisit the 1990s for some guidance. The S&P 500 Information Technology and Communication Services sectors are as large now as they were during the dot-com bubble, but today they generate a larger percentage of the S&P 500’s earnings.
Thank you for keeping that calm long-term perspective, free from doom-mongering and clickbait takes.
Thanks. Always look forward to your weekly analysis.
Great job, Eric! Enjoyed the presentation!
Informative longer term perspective on market valuation. Thanks!
Also thanks for clarification on not commenting on individual stocks - it always seemed out of place here.
Great job and thanks for the video.
My fav slide was that CSCO - NVDA FWD PE overlap:)
Fantastic video. Very knowledgeable about a wide variety of subjects and quite measured. My only critique is if you’re using late-‘90s valuations as your primary analog to conclude it’s not too bad now, you should acknowledge you’re way out on a limb with respect to historic valuations. Having said that, somewhat higher valuations make sense because Apple and Google are much better businesses than Exxon and AT&T and deserve higher valuations. Looking forward to your next video.
Definitely a melt up as there are no buyers for LT treasuries…
I do not understand why you have not revised targets when earnings keep increasing at this point and no recession forecast. Ed was bullish beginning of the year at 5400, but this was reached already mid-year. I agree there could be a pullback but I am thinking we will be higher than now. Cisco is not really comparable to NVDA.
This market is definitely looking frothy already. So we can gain another 20% by 2026. I give that a 40% probability. The consumer is tapped out and going into debt. 78% are living paycheck to paycheck. I give recession in 18 months a 60% probability.
Ok Dan. 😂