Yardeni Says Analysts Still See S&P 500 Earnings Near $500 Per Share by 2028

Wall Street analysts have largely held their S&P 500 earnings forecasts, Yardeni Research President Ed Yardeni said. For 2028, they still sit near $500 per share, even after Alphabet and Intel sold off. However, Yardeni’s own 2028 forecast is $450, about 9% below the $493 consensus he cited in an October 24 note. S&P 500 holders are exposed to profit growth that he considers too bullish. Why Are S&P 500 Earnings Not Lifting the Index? Yardeni made the case in an interview ahead of the US midterm elections. He said weekly consensus estimates stayed roughly flat in the week of October 26. Analysts remain strongly bullish on 2027 and 2028, he added . Meanwhile, the index has trailed those profits, based on figures in the note .

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