FACTSET

Wall Street's benchmark earnings-data provider; its Earnings Insight report sets the S&P 500 margin/beat-rate consensus.

Predictions & track record (3)

• Awaiting grading Q2 earnings are beating estimates by a record 31%. Take out two companies and it is 9%.Score as a hit if FactSet's final Q2 tally, once all companies have reported, shows an earnings surprise above 10% excluding Alphabet and Amazon, and as a miss if it comes in below.
• Awaiting grading Four big tech firms have guided 2026 AI capex up to $745 billion, and a third of that money is borrowedScore on third-quarter results, looking at capex and funding together. Capex rising while bond issuance and equity raises shrink counts as operating cash catching up, and both rising together counts as deepening reliance on credit.
• Awaiting grading The S&P 500's Record 15.7% Margin Drops to 14.4% Without AlphabetCheck after Microsoft, Meta, Amazon and Apple report Q2 results whether their margins improved similarly, that determines whether 15.7% reflects a broad AI boom or an Alphabet-sized illusion.

3 related posts

• Watch Q2 earnings are beating estimates by a record 31%. Take out two companies and it is 9%. The Kobeissi Letter (@KobeissiLetter) · 2026-08-02
• Watch Four big tech firms have guided 2026 AI capex up to $745 billion, and a third of that money is borrowed Serenity (@aleabitoreddit) · 2026-07-31
• Watch The S&P 500's Record 15.7% Margin Drops to 14.4% Without Alphabet The Kobeissi Letter (@KobeissiLetter) · 2026-07-26