THE QUESTION THAT COULD DEFINE THE STOCK MARKET TO 2028 AND BEYOND
By Nigam Arora
Is this extraordinary earnings growth cyclical or secular? The answer could define the stock market through 2028 and beyond.
Semiconductors have suffered a sharp correction. Headline S&P 500 earnings growth is being distorted. Yet powerful emerging technologies could create another major investment cycle.
In this Schwab Network interview, Nigam Arora examines the evidence behind two radically different market outcomes—and the data investors should watch as the answer becomes clearer.
Cyclical or Secular? Investors Must Prepare for Both
The central question is whether today’s extraordinary earnings growth, especially in semiconductors and technology, represents a cyclical peak or the beginning of a durable secular expansion.… Please click here or the title below to read more.
August 11, 2026