[Citigroup strategists expect technology stocks to contribute the majority of global earnings growth in 2027] On October 16, Citigroup strategists said that technology stocks are expected to contribute nearly 70% of global earnings growth next year, so if the artificial intelligence craze begins to cool down, the stock market rally may be at risk. Citi's analysis shows that in terms of industry contribution, this ratio will make the concentration of earnings growth in 2027 among the highest on record. The team, which includes David Groman and Beata Manthey, said the top industry sectors accounted for about 40% of earnings growth on average over the past 30 years. Strategists say this high concentration poses a risk at a time when overall earnings per share growth is expected to slow to 16% next year from 35% in 2026. However, they note that there is "little to no relationship" between earnings concentration and overall stock market performance.