Micron and Nvidia Are the 2 Biggest Drivers of S&P 500 Earnings Growth. Are Their Stocks Buys?
Two chipmakers are carrying an unusual share of the market’s profit growth. In its Oct. 16 Earnings Insight report, FactSet listed Micron Technology (NASDAQ:MU) and Nvidia (NASDAQ:NVDA) as the two biggest contributors to year-over-year earnings growth for the S&P 500 (SNPINDEX:^GSPC) in the third quarter of 2026.
FactSet’s blended growth rate of the index, which mixes reported results with estimates for companies yet to report, is at 29%. Without Micron and Nvidia, it would drop to 20%. Said another way, two companies are providing about 9 percentage points of the growth in an index of 500.
Their stocks have been moving the other way. As of this writing, Nvidia shares are around $217 and have lost 9% since their Oct. 6 record close. Micron is near $905, about 25% below its June 25 record close of $1,213.56.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.