{"id":11894,"date":"2024-03-13T09:36:07","date_gmt":"2024-03-13T04:06:07","guid":{"rendered":"https:\/\/bigbreakingwire.in\/bank-of-america-raises-2024-sp-500-eps-forecast-to-250-reflecting-12-yoy-upside\/"},"modified":"2024-03-13T09:36:07","modified_gmt":"2024-03-13T04:06:07","slug":"bank-of-america-raises-2024-sp-500-eps-forecast-to-250-reflecting-12-yoy-upside","status":"publish","type":"post","link":"https:\/\/bigbreakingwire.in\/bank-of-america-raises-2024-sp-500-eps-forecast-to-250-reflecting-12-yoy-upside\/","title":{"rendered":"Bank of America Raises 2024 S&amp;P 500 EPS Forecast to $250, Reflecting 12% YoY Upside"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>\n<p>Bank of America increases S&amp;P 500 profit projections due to the impact of the AI surge.<\/p>\n\n\n\n<p>Bank of America strategists raised their 2024 S&amp;P 500 earnings per share (EPS) estimates to $250 on Tuesday, marking an increase from the earlier projection of $235.<\/p>\n\n\n\n<p>The latest projection, the most optimistic top-down forecast on Wall Street, suggests a year-over-year (YoY) increase of around 12%.<\/p>\n\n\n\n<p>In the fourth quarter, companies outperformed expectations, prompting our economists, led by Ohsung Kwon, to increase their 2024 GDP forecast to +2.7% year-over-year. This is an upgrade from the previous estimate of +1.4% in November, as mentioned in a note on Tuesday.<\/p>\n\n\n\n<p>The 1.3 percentage point rise in the GDP forecast results in a 5 percentage point enhancement to EPS growth, assuming everything else remains constant. According to the strategists, 2023 served as a transitional period for Corporate America, and companies have successfully adapted to the increased rate and subdued demand environment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of America increases S&amp;P 500 profit projections due to the impact of the AI surge. Bank of America strategists raised their 2024 S&amp;P 500&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[65,618,31,619,1,39],"tags":[2448,1824,2444,1082,2447,2449,2134,1559,1039,2443,1470,2445,2446],"class_list":["post-11894","post","type-post","status-publish","format-standard","hentry","category-bigbreakingnow","category-brokerage-reports","category-business","category-stocks-in-news","category-tech","category-world","tag-2023-transition","tag-1824","tag-ai-wave","tag-bank-of-america","tag-bank-of-america-strategists","tag-corporate-america","tag-earnings-per-share","tag-forecast","tag-gdp","tag-increase","tag-sp-500","tag-surge","tag-yoy-upside","entry","rows"],"jetpack_publicize_connections":[],"modified_by":null,"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfgCxS-35Q","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"_links":{"self":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/11894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/comments?post=11894"}],"version-history":[{"count":0,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/posts\/11894\/revisions"}],"wp:attachment":[{"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/media?parent=11894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/categories?post=11894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bigbreakingwire.in\/wp-json\/wp\/v2\/tags?post=11894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}