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Bank of America’s Subramanian says S&P 500 earnings risk a 10% drop in 2023

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Bank of America’s Savita Subramanian thinks the S&P 500 in 2023 could touch 4,600, but bottom out at 3,000, or about a 25% slump from current levels.

That’s Savita Subramanian, head of equity and quantitative strategy at Bank of America, in a Thursday interview with the Bloomberg podcast “What Goes Up.”

— Savita Subramanian, the head of equity and quantitative strategy at Bank of America That’s Savita Subramanian, head of equity and quantitative strategy at Bank of America, in a Thursday interview with the Bloomberg podcast “What Goes Up.” The 2023 earnings per share consensus for the S&P 500 is $231.05, remaining well above Bank of America’s forecast of $200, according to FactSet. EPS is net income divided by the number of shares outstanding, and could show how much money a company makes for each share of stock.

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