As the company announced its first-quarter earnings report, Morgan Stanley and Citi lowered their earnings expectations for 2025 and joined a number of Wall Street banks warning that tariffs would curb profit growth. Scott Chronert, head of US stock strategy at Citigroup, lowered the 2025 forecast for the S&P 500 index from 6,500 points to 5,800 points. Based on the expected earnings of the index's constituent stocks of 255 US dollars per share, the previous forecast was 270 dollars. At Morgan Stanley, Mike Wilson lowered the 2025 earnings per share forecast from $271 to $257.

As the company announced its first-quarter earnings report, Morgan Stanley and Citi lowered their earnings expectations for 2025 and joined a number of Wall Street banks warning that tariffs would curb profit growth. Scott Chronert, head of US stock strategy at Citigroup, lowered the 2025 forecast for the S&P 500 index from 6,500 points to 5,800 points. Based on the expected earnings of the index's constituent stocks of 255 US dollars per share, the previous forecast was 270 dollars. At Morgan Stanley, Mike Wilson lowered the 2025 earnings per share forecast from $271 to $257.