Our Privacy Statment & Cookie Policy

All LSEG websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.

August 18, 2026

S&P 500 Q2 Earnings Insight: Analyst Sentiment Diverges Across Semis & Software

by Tajinder Dhillon.

With ~90% of Q2 results now reported, we’re seeing a clear divergence between semiconductor and software names.

LSEG StarMine’s Analyst Revision Model (ARM) shows an aggregate score of 89 for the iShares Semiconductor ETF (SOXX), compared with 59 for the iShares Expanded Tech-Software ETF (IGV), which has declined since the start of earnings season.

The largest weighted contributors to the decline in IGV’s aggregate ARM score over this period are:

  • AppLovin: 96 → 4
  • Palo Alto Networks: 91 → 62
  • Oracle: 82 → 56
  • ServiceNow: 63 → 30
  • Salesforce: 91 → 66

To learn more about the StarMine Analyst Revision Model: Click here.

We have updated our Privacy Statement. Before you continue, please read our new Privacy Statement and familiarize yourself with the terms.x