Investing.com -- Around 62 S&P 500 companies have released guidance for the third quarter of 2026, representing roughly half of the 115 to 120 firms expected to provide outlooks, according to Wolfe Research.

The firm reported that 60% of companies issued midpoint guidance above consensus estimates, marking the strongest next-quarter earnings per share guidance since the COVID-19 pandemic.

The technology sector showed particularly robust guidance trends. Of approximately 45 technology companies expected to provide outlooks, 22 have issued official third-quarter guidance, with 92% exceeding consensus estimates.

Wolfe Research attributed the raised guidance to solid U.S. economic conditions and strong fundamental results during the current quarter. The firm indicated that technology remains its preferred sector, with particular focus on semiconductor companies.

The research firm stated that the strength in technology company guidance supports its view on continued AI spending trends.