Corporate earnings are growing much faster than the economy. What Goldman strategists say about bubble concerns.
Why now
Thesis: Goldman sees EPS growth slowing, challenging bubble multiple expansion
Catalyst to watch: Earnings revisions and 2027-2028 guidance
Main risk: Deceleration turns into outright earnings decline
Why it matters
Goldman sees S&P EPS growth decelerating to 11% in 2027-2028, which challenges bubble-era multiple expansion even if growth stays positive.
Details
A team at the bank, led by Ben Snider, wrote in a recent note that they see S&P 500 earnings per share growth slowing to 11% in 2027 and 2028.
Sources
- marketwatch · 2026-09-21 10:13 UTC