S&P 500 Q2 Earnings Insight: Analyst Sentiment Diverges Across Semis & Software

With ~90% of Q2 results now reported, we’re seeing a clear divergence between semiconductor and software names.

LSEG StarMine’s Analyst Revision Model (ARM) shows an aggregate score of 89 for the iShares Semiconductor ETF (SOXX), compared with 59 for the iShares Expanded Tech-Software ETF (IGV), which has declined since the start of earnings season.

The largest weighted contributors to the decline in IGV’s aggregate ARM score over this period are:

• AppLovin (APP): 96 → 4

• Palo Alto Networks (PANW): 91 → 62

• Oracle (ORCL): 82 → 56

• ServiceNow (NOW): 63 → 30

• Salesforce (CRM): 91 → 66

To learn more about the StarMine Analyst Revision Model: Click here.