
THE MOST IMPORTANT EARNINGS QUESTION INVESTORS NEED TO ANSWER
By Nigam Arora Artificial intelligence continues to drive one of the strongest earnings environments in decades. Consensus estimates call for another year of exceptional earnings growth, but one question matters more than any earnings forecast: is today’s AI-driven earnings growth secular or cyclical? That is the central topic Nigam Arora explores in this interview. The only honest answer is that nobody knows with certainty. That uncertainty should shape how prudent investors approach earnings season. Many investors are making two costly mistakes. The first is recency bias – looking in the rearview mirror and assuming today’s winners will remain tomorrow’s winners. The






