During a period of unrelenting market volatility, ASX blue chips have been taking it in turns to water down their earnings expectations.
Cochlear took the cake on Wednesday, blowing everyone out of the water with what Jarden analyst Steve Wheen described as a “staggering” downgrade.
But even in what look like doomsday conditions for global markets, Macquarie’s Matt Brooks suggests it might just be that time of year.
“The ASX has entered a heightened period for earnings risk that typically lasts from April to August,” he wrote in a client note.
