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With the vast majority of the S&P 500 having reported their Q1 ’21 financial results, the estimate revision activity will likely slow now until mid-July ’21, when the 2nd quarter starts to get reported.
Fast fact: the S&P 500 has traded +/- 22x forward earnings since January 6, 21. The forward estimate is up $31 per share since 12/31/20, from $159.02 to this week’s $191.52, and the market multiple has varied less than 5% for that entire period.
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