Emerging-Market Profit Forecasts at Record as AI Boom Defies War

Profit forecasts for emerging-market companies are hitting record highs even as the war in Iran shakes global markets, with investors betting on earnings resilience at Asia’s artificial-intelligence powerhouses.

Analysts have upped their earnings estimates for companies in the MSCI emerging equity index by 23%, the fastest pace since 2009 when the global economy was roaring out of recession. Forecasts have continued to go up even after the war broke out, rising by almost six percentage points in the past six weeks, data compiled by Bloomberg show.