Top-Down Estimates of Earnings per Share Growth (S&P 500, STOXX 600, TOPIX, MXAPJ)

After years of rallies fueled by soaring multiples, especially in tech and AI sectors, 2026 could see fundamentals take the lead.

Image: Goldman Sachs Global Investment Research

Top-Down Estimates of Earnings per Share Growth (S&P 500, STOXX 600, TOPIX, MXAPJ)