Bloomberg Surveillance · Monday, September 14, 2026
RBC analyst Laurie Calvacino has adjusted earnings models by haircutting bottom-up consensus forecasts by 10% to account for potential froth in AI-related stocks. This adjustment is an increase from previous haircuts, reflecting growing concerns about the sustainability of AI-driven market performance.
“So look, you know, one of the things we've been doing in our modeling is just taking the bottom-up consensus and haircutting it by 10%.”
“In our last couple of updates, we've expanded that to 10% to potentially account for some froth on the AI side of things.”
“Not that we were pounding the table and saying it was going to happen, but there has been some concern building on that front for a few months now.”