Micron Technology and Nvidia mask softer S&P 500 earnings growth

S&P 500 Q2 2026 earnings growth stands at 24.7%, heavily driven by Micron and Nvidia. Excluding these two semiconductor giants, the blended growth rate drops to 16.8%, highlighting concentrated profit expansion in tech. While underlying growth remains healthy, the disparity underscores reliance on high-performing names for broader market results.

The S&P 500’s (SP500) year-over-year earnings growth for the second quarter of 2026 has stood at a robust 24.7%, but that headline figure relies heavily on outsized contributions from two semiconductor giants. Excluding Micron Technology (MU) and Nvidia (NVDA), the blended growth rate for the index drops to 16.8%, underscoring the concentrated natu...