Goldman Sachs Advises Against Timing Market Top Despite Slowing S&P 500 Earnings Growth

Goldman Sachs is advising investors against trying to time the S&P 500 top, projecting earnings per share growth to decelerate sharply as artificial intelligence infrastructure spending matures. While a research report forecast index earnings growth of nearly 30% in 2026 and 18% in 2027, an asset management forecast projected a slowdown from 36% in 2026 to 11% in both 2027 and 2028. Goldman noted that 40% to 60% of total bull market returns historically occur after EPS growth peaks, recommending full investment through diversification rather than exiting equities prematurely.