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AA Alex Altmann On The Compound and Friends

“Next year, 2027, consensus S&P earnings, 75% of that is expected to come from semiconductors and hyperscalers.”

The Compound and Friends · October 2026

“Next year, 2027, consensus S&P earnings, 75% of that is expected to come from semiconductors and hyperscalers.” — Alex Altmann, The Compound and Friends

Context

Josh Brown had said about two-thirds of economic growth is coming from AI-related capex. Altmann answered with the stat he finds wildest, showing how concentrated index earnings expectations are in the AI complex.

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Transcript

The Compound and Friends Around 38:57 into the episode
Alex Altmann

You want to know Wildstat?

Josh Brown

Yeah.

Alex Altmann

So next year, next year, 2027, consensus SP earnings, 75% of that is expected to come from semiconductors and hyperscalers. Great.

Michael Batnick

Love it.

Alex Altmann

Right.

Josh Brown

God, let's hope there's not a financing problem that extends into next year.

Speaker names come from our own diarization. The position is estimated from where the line sits in the episode.

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