The View Beyond: Earnings growth beyond the Magnificent Seven
Moving Markets · Sep 19, 2026 · 24:04
Moving Markets · Sep 19, 2026 · 24:04
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Equity markets in 2026 have delivered a volatile ride, with a strong rebound pushing most major indices into positive territory. But as investor focus narrows on AI and the so-called Magnificent Seven, where should attention shift for the remainder of the year—and what risks are hiding in plain sight?
In this episode, Ayako Lehmann, Head of Webcasts & Video, is joined by Philipp Lienhardt, Head of Equity Research at Julius Baer, for a deep dive into the drivers of equity market performance in 2026. They discuss regional and sector standouts, the breadth of earnings growth beyond mega cap technology stocks, and the implications of increasing market concentration. The conversation covers sector positioning—why financials, health care, and communications remain overweight—and explores the outlook for subsectors including retail banks, payment networks, pharma, biotech, MedTech, and telecom operators. Philipp also shares practical guidance on avoiding common equity investing mistakes as year-end approaches.
