Research Detail
| 2024/04/03 / Erste Group Research |
USA 1Q24: Earnings growth of +20% expected in the technology sector Rating changes: Eli Lilly, BP, Bank of America, McDonalds, S&P Global, Novartis The US reporting season for 1Q results starts the Friday after next (12.4.) with the publication of the reports of the major US banks JPMorgan Chase and Citigroup. The expected earnings growth for the S&P 500 in 1Q24 is +3.4% (y/y). The largest annual earnings increases in 1Q are expected in the Utilities (+23.8%), Technology (+20.3%) and Consumer Discretionary (+15.4%) sectors. The expected growth rate for sales is +3.6% (y/y). In the 1Q24 reporting season, European companies are expected to report a decline in profits of -11% (y/y). This will be the fourth consecutive quarter of profit declines. The consensus forecast for sales is a decline of -6.3% (y/y). ASML starts the reporting season on April 17, followed by ABB on April 18. |
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General information
| Author | Erste Group Research |
| Date | 2024/04/03 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Germany, United Kingdom, United States |
| Currency in focus | British Pound, Euro, US Dollar |
| Sector in focus | Automobiles & Parts, Banks, Basic Resources, Chemicals, Construction & Material, Financial Services, Food & Beverage, Health Care, Industrial Goods & Services, Insurance, Media, Oil & Gas, Personal & Household Goods, Retail, Technology, Telecommunications, Travel & Leisure, Utilities |
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Related financial instruments
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| Name | ISIN | # Erste Group products |
| Home Depot | US4370761029 | 0 |
| HSBC | GB0005405286 | 0 |
| IBM | US4592001014 | 0 |
| ICICI Bank | US45104G1040 | 0 |
| Inditex | ES0148396007 | 0 |
| Infineon | DE0006231004 | 3 |
| Infosys | INE009A01021 | 0 |
| Intel | US4581401001 | 0 |
| Intuit | US4612021034 | 0 |
| Intuitive Surgical | US46120E6023 | 0 |
| Johnson & Johnson | US4781601046 | 0 |
| JPMorgan | US46625H1005 | 0 |
| Linde | IE000S9YS762 | 0 |
| LOreal | FR0000120321 | 0 |
| LVMH | FR0000121014 | 0 |
| Mastercard | US57636Q1040 | 0 |
| McDonalds | US5801351017 | 0 |
| Mercedes-Benz Group | DE0007100000 | 2 |
| Merck & Co | US58933Y1055 | 0 |
| Meta Platforms | US30303M1027 | 0 |
| Microsoft | US5949181045 | 0 |
| Mondelez | US6092071058 | 0 |
| Morgan Stanley | US6174464486 | 0 |
| Nestle | CH0038863350 | 0 |
| Netflix | US64110L1061 | 0 |