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by Tajinder Dhillon.
Micron takes the top spot from Nvidia as the largest contributor to S&P 500 Q3 earnings growth for the second consecutive quarter. The memory-chip maker grew earnings by more than 1,000%, contributing 5.79 percentage points to the index’s 30.7% earnings growth rate.
Q3 will again be marked by extreme earnings concentration, with Micron and Nvidia together accounting for nearly 35% of total S&P 500 earnings growth this quarter.
Analysts remain very bullish on both Micron and Nvidia, with StarMine Analyst Revision Model (ARM) scores of 94 and 99 (out of a maximum 100), respectively, reflecting continued positive earnings revision momentum.