It really is déjà vu all over again with a significant difference. When actual results beat expected ones over the past eight quarters (Figures 119 & 120), industry analysts didn’t raise their subsequent quarterly numbers as they’ve been doing during the current earnings season (Figure 121). In other words, industry analysts seem to be more optimistic about the future as a result of the latest earnings season than they were during the previous eight seasons of better-than-expected earnings. Industry analysts are aiming high. |
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