S&P 500 Earnings Insight: Micron Overtakes Nvidia as Q2’s Top Earnings Growth Contributor

Micron takes the top spot from Nvidia as the largest contributor to S&P 500 Q2 earnings growth. The memory-chip maker grew earnings by more than 1,200%, contributing 4.66 percentage points to the index’s 24.4% earnings growth rate (as of July 2).

Q2 will be marked by extreme earnings concentration, with Micron and Nvidia together accounting for nearly 40% of total S&P 500 earnings growth this quarter.

Analysts remain bullish on both Micron and Nvidia, with StarMine Analyst Revision Model (ARM) scores of 82 and 84, respectively, reflecting continued positive earnings revision momentum.