Bloomberg Surveillance · Wednesday, July 1, 2026
Angelo Zeno of CFIRA notes that the first half of the year saw an acceleration in data center spending, benefiting chip and equipment providers. While some deceleration is anticipated in late 2026 and into 2027 due to large comparative numbers, Zeno expects the overall trajectory to remain positive, driving earnings growth.
“We remain positive about the overall outlook for chip and ship equipment providers, as we believe the first half of the year witness a structural reset higher for data center spending.”
“I mean, John, I would say in terms of deceleration, we'd expect to see some deceleration, just because the numbers are going to get so large, right, But as we kind of look here in the first half of the year, I'd say it's been far from a deceleration. It's been an acceleration in the spending levels.”
“I'd say as we kind of go into the second half, more so into twenty twenty seven, yeah, there's going to be some deceleration, but I think what's more important is the trajectory continues to be positive, and as a result of that, you'll continue to see the earnings growth across the space.”