Nvidia (NVDA) & Micron (MU) : Heavyhitters For This Reporting Season !!! β πͺπππ―π€©ππ₯°π₯
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.
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