Goldman sees zero earnings growth for US companies this year because of coronavirus
- This is a dramatic break from the consensus forecast of Wall Street, which still calls for earnings to climb 7% this year.
- “Our reduced profit forecasts reflect the severe decline in Chinese economic activity in 1Q, lower end-demand for US exporters, disruption to the supply chain for many US firms, a slowdown in US economic activity, and elevated business uncertainty,” the firm’s chief U.S. equity strategist David Kostin said in a note to clients.
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