# 1q26 Earnings Season and AI Capex Cycle Updated

Page: https://stenobird.com/podcast/stock-talk-5318189/1q26-earnings-season-and-ai-capex-cycle-updated
Text version: https://stenobird.com/podcast/stock-talk-5318189/1q26-earnings-season-and-ai-capex-cycle-updated.md
Podcast: [Stock Talk](https://stenobird.com/podcast/stock-talk-5318189)
Published: 2026-05-08T19:58:25+00:00
Episode link: https://oakharvest.podbean.com/e/1q26-earnings-season-and-ai-capex-cycle-updated/
Audio file: https://mcdn.podbean.com/mf/web/g4rm72a44pjz3jig/Stock_Talk_58_Audio_Onlyac06s.mp3
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JSON: https://stenobird.com/v1/public/podcasts/stock-talk-5318189/episodes/1q26-earnings-season-and-ai-capex-cycle-updated
Duration seconds: 468

## Resource

I’m breaking down the latest Q1 2026 earnings season update and why the AI capex boom may still have room to run. I cover accelerating S&P 500 earnings, record profit margins, rising EPS estimates, and how today’s cycle compares to the late-1990s Dotcom capex run. I also explain why higher oil prices and interest rates remain headwinds, but not roadblocks, when earnings growth is this strong. In this Stock Talk, I bring the focus back to what has historically mattered most for stock prices over time: earnings. While headlines, geopolitics, oil prices, and Federal Reserve policy can create short-term volatility, I walk through current FactSet earnings data showing that many S&P 500 companies are reporting positive earnings and revenue surprises, profit margins remain strong, and leadership is concentrated in areas like technology, materials, financials, and industrials. I also explain why forward earnings estimates may suggest continued acceleration in revenue and EPS growth through 2026, while reminding investors that estimates can change and should not be treated as guarantees. The key takeaway is simple: in uncertain markets, it may help to stay disciplined, diversified, and focused on the underlying fundamentals that can drive long-term stock performance. About Chris Perras, CFA®, CLU®, ChFC®, Chief Investment Officer: As CIO, Chris is the lead investment strategist and director of research at Oak Harvest Financial Group. Chris develops the firm's core market outlook, putting his decades of experience and expertise to work for our clients. He hosts Oak Harvest's podcast, "Stock Talk," available on the website with new episodes each week. He completed his undergraduate studies at Georgia Tech, and went on to obtain an MBA from the Harvard Business School. Dri…

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## Transcript

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