FX.co ★ Strongest wave of positive forecasts since pandemic: tech sector lifts market

Approximately 62 companies in the S&P 500 have issued third-quarter 2026 guidance, representing about half of the 115-120 firms expected to provide their outlooks. Analyst data points to an unexpectedly strong wave of positive forecasts, particularly within the technology sector.

According to Wolfe Research, 60% of organizations issued guidance with a median value above consensus estimates, a reading that marks the best quarterly earnings-per-share outlook since the COVID-19 pandemic. This ratio suggests companies are optimistic and broadly expect stronger results than the market currently anticipates.

Tech sector companies were especially prominent. Of the roughly 45 technology firms expected to provide guidance, 22 have already published official third-quarter data, with 92% exceeding consensus estimates. This performance profile makes the sector a key driver of positive market expectations overall.

Wolfe Research attributes the upward revisions to the resilience of the US economy and robust fundamental results in the current quarter. The firm's analysts note that technology remains a priority sector for them, with particular emphasis on semiconductor manufacturers, a segment that continues to demonstrate strong demand dynamics and improving metrics.

The research firm also stated that the strength of tech sector guidance supports its view of sustained growth in artificial intelligence investment. For investors and market participants, this could signal increased interest in technology stocks and semiconductor names in the coming months.