wall street has given up on the hope that technology companies will report higher earnings next year potentially setting up their shares to at least stabilize if not stage a shortterm rally now that the third quarter reporting period is winding down the drop in the outlook has already been precipitous analysts now see profits for the industry declining 02 next year compared with a prediction in late june for an increase of 105 according to data compiled by bloomberg intelligence while expectations have come down across a number of sectors tech stands out the overall sp 500 is still expected to report earnings growth in 2023