No Impact of AI Expected for Corporate Earnings Outside Tech | Torsten Slok's 'The Daily Spark' | February 10, 2026

The chart below shows consensus expectations for earnings for the **Magnificent Seven** and the **S&P 493** since Liberation Day. Earnings expectations for the Magnificent Seven have **increased** significantly. But expectations for earnings for the S&P 493 are **basically unchanged**. **The bottom line is that the consensus does not expect AI to improve profitability for corporate America outside the tech…