The ongoing quarterly earnings season is witnessing a long-awaited recovery in companies that were previously overshadowed by the AI boom. What Happened: A shift in profit growth within the S&P 500 Index. The Magnificent Seven, a group of seven large tech companies, have been the primary drivers of the index’s gains for several quarters. However, the other stocks in the index are now projected to report their first profit growth since Q4 2022, reports Bloomberg. Keith Lerner, co-chief investment officer at Truist Advisory Services, views this broader earnings strength as a positive development…