Nvidia and Micron are about to dominate earnings season Brian Sozzi · Executive Editor Wed, October 7, 2026 at 11:06 AM EDT 2 min read NVDA -0.93% MU +2.65% ^GSPC -0.51% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Nvidia (NVDA) and Micron (MU) are poised to throw their earnings weight around this reporting season.
The two companies are expected to account for more than one-third of earnings per share growth for the S&P 500 (^GSPC) for the third quarter, according to a ZeroHedge analysis. The platform assessed earnings estimates compiled by Goldman Sachs and FactSet.
What's more, the two semiconductor giants will generate more earnings growth than the bottom 490 S&P 500 companies combined. In total, the analysis found that AI infrastructure companies are expected to drive more than half of S&P 500 EPS growth for the third quarter.
The estimates reflect the moment we are in for the AI boom.
"We believe this is the 3rd inning of a 9-inning game, and the scale of what is now committed is the evidence," Yorkville Ives partner Dan Ives wrote. "AI infrastructure spending by the five largest cloud platforms is running on the order of $850 billion this year, a figure that rivals U.S. defense outlays and ranks among the largest contributors to fixed investment in the economy."
Ives listed Nvidia as one of his top picks from the tech sector.
Zoom out, and the S&P 500 is expected to report year-over-year earnings growth of 29.5% for the recently completed third quarter.
If that plays out, it will mark the third consecutive quarter of earnings growth above 25%, according to FactSet. It would also represent the eighth straight quarter of double-digit percentage earnings growth.
For the fourth quarter, Wall Street analysts are calling for earnings growth of 27.6%. And for all of 2026, analysts are predicting year-over-year earnings growth of 32.4%.
Brian Sozzi is Yahoo Finance's Executive Editor, host of the Sozzi Unleashed morning show and the Power Players with Brian Sozzi podcast, and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.
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