Looking beyond tech for positive earnings surprises
Investors’ sky-high hopes for technology companies are being met these days by a far more earthbound reality.
Case in point: Fourth-quarter 2025 earnings for the companies in the tech-heavy Nasdaq-100 index have been 0.3% below expectations on average (see the chart), with approximately 80% of the index’s components having reported their quarterly results thus far. Note that this is the second consecutive quarter of lukewarm results following an extended period when tech firms’ earnings beat expectations by anywhere from 7% to 14%.
