$FDS FactSet Tape Reports
Per Ticker.id: $FDS FactSet Tape Reports — timestamped podcast mentions, volume, and share of voice. Latest 2026-07-24 09:01 UTC.
Okay. So every couple of weeks we put up a grid for our clients to look at current S&P valuations, and I'll just pop that up on the screen now. It's kind of an eye chart, so I'm just going to hit the highlights and then we've got a talking point chart behind it. What it does is look at this year and next year FactSet earnings consensus. And then puts the standard multiples on. The range over the last 10 years has been 14 to call it 22. And then we add a 24 multiple because that was the peak from the dot-com bubble. And we added 26 just to dream the dream and say, okay, if multiples really expand. And the upshot is for people listening, I'll just summarize it. Most of this grid shows losses. If you're trading at 14, 16, 18 times on consensus or even above consensus numbers, you're below where the S&P is trading today. You only get to real payoffs at 20+ times earnings. So the underlying message here is the market's still fairly richly valued and has not a lot of room for error. If earnings miss, if investor confidence begins to fade, that's the basic message. The other thing that's important to know is that the S&P is up like 12% year to date. I think 12.1% as of Friday. Earnings revisions for this year and next year are up 15% and up 13%. So the entire move for the S&P this year has been earnings revisions. It has been no PE expansion at all. As a matter of fact, you had a little PE contraction. A little bit of that is like the kooky one-off earnings growth at Amazon and Alphabet in Q2 because of the markups on SpaceX. But even looking at 2027 earnings up, you know, call it, I want to say 13%. You know, we're basically, that's what we're, that's why the S&P is up. It's just been very strong earnings revisions. Let me tell you, I was a sell-side analyst in the '90s. I've watched this data for 30 years, analysts never raise numbers during a year. It just never happens. They start high and trim. They start high and trim. That has not been this year. It's been an amazing year for earnings growth because of tech and because of energy.
Nick Colas — The Compound and Friends · Why Every Trader on Earth is Watching the 10-Year Treasury Now with Nick Colas · 2026-08-24So he's referring to the NAND memory market, which is what they focus on. But overall, memory earnings have really backed up this drive. FactSet has Micron growing earnings per share 40 to 55% over the next year. SanDisk 25 to 35%, both well above the S&P 500's 15%. Not everyone, though, guys, is sold on, you know, the drivers for memory. Wedbush warns memory always turns cyclical and says Chinese competition and new capacity could bite by 2028. So there are lingering concerns. But I want to point out that not every single chip name got the lift. Equipment name Applied Materials went the other way, down about 4% right now despite an earnings beat. It sold off anyway because management just wouldn't put up a number a number on how much its business grows next year. So you have essentially the same bucket, same sector, opposite reactions. Memory got bought on a bullish forecast. You saw Applied Materials got sold off for holding back on one.
Christina Porcinopoulos — Squawk on the Street · 10AM Hour: Wall St. Legend Leon Cooperman, Memory Stocks Bounce Back, OpenAI’s Talent Exodus 8/14/26 · 2026-08-14