The earnings season could turn ugly.

Art Hogan is a long-term bull warning of the coming storm with disappointing corporate guidance, missed revenue targets and other disappointments.

CNBC’s Chief Market Strategist at National Securities told CNBC that “Buckle Your Seatbelts” and advised viewers to “Buckle Your Seatbelts.”Trading NationFriday’s ” “This cycle will mark the first time you hear companies more guide down than up.

Hogan mentions the headwinds caused by supply chain backlogs and inflation as well as worker shortages.

Hogan declared, “There will be a real earnings seasonal of haves as well as have nots.” “The haves truly have pricing capability.”

He mentions SnapAs an example, take the third quarter results for Facebook. The social media giant reported last Thursday a revenue miss and it lowered guidance — citing trouble in its advertising business and global supply chain interruptionsSnap stock is down 27% since the announcement. Snap stock dropped 27% after the announcement.

Hogan said that aggregate demand exceeds aggregate supply. Hogan stated, “If there aren’t things to sell you probably won’t increase your advertising budget.”

Long-term investors should resist the temptation to react to volatility. He believes that they should adopt a barbell investment approach, which includes growth and cycles.

He said that “any given earnings season is not the right time to make large-scale changes to your long term investments plan.” But make sure to know your current growth position and that you are choosing companies with a high P/E. [price-to-earnings ratio]Comparing price to revenue.”

He thinks the pain won’t trickle into year-end His S&P 500Year-end target is 4,700This implies that Friday’s closing close was Friday by 3%.

Hogan stated that there is a large runway ahead of them and that a lot more demand than was satisfied this year will be dragged into the 2022.

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