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Zacks Earnings Trends Highlights: Micron and Nvidia
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For Immediate Release
Chicago, IL – September 17, 2026– Zacks Director of Research Sheraz Mian says, "Total S&P 500 earnings are currently expected to increase +24.0% from the same period last year on +11.3% higher revenues, with 14 of the 16 Zacks sectors expected to enjoy positive earnings growth."
A Broad-Based Earnings Growth Picture as Revisions Stay Positive
Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
Here are the key points:
Total S&P 500 earnings are currently expected to increase +24.0% from the same period last year on +11.3% higher revenues, with 14 of the 16 Zacks sectors expected to enjoy positive earnings growth and 6 sectors producing double-digit growth. This will be the most broad-based earnings growth performance in recent times.
The revisions trend remains positive, sustaining the favorable revisions trend that has been in place for a year now. Since the start of Q3, earnings estimates have moved higher for half of the 16 Zacks sectors.
With Conglomerates (-35.4%) as the only Zacks sector expected to have lower Q3 earnings relative to the year-earlier period, the quarter is on track to produce an impressively broad-based growth performance. Q3 will also be the 8th straight quarter of double-digit earnings growth for the S&P 500 index.
Micron (MU - Free Report) and Nvidia (NVDA - Free Report) continue to be material contributors to the Tech sector’s growth picture. Excluding these two companies, Q3 earnings for the rest of the Tech sector would be +23.7% (vs. +42.0% otherwise).
The Earnings Big Picture
Since the start of Q3, the Energy sector has enjoyed the most pronounced upgrade to its earnings outlook, reflecting elevated oil prices as a result of the Persian Gulf situation. Other sectors enjoying positive estimate revisions since the start of Q3 include Aerospace, Industrial Products, Tech, Autos, Transportation, Finance and Utilities. It is significant to note that the aggregate revisions trend would still be positive if we excluded the positive revisions to the Energy or Tech sector.
The Tech sector remains a major contributor to aggregate earnings growth, with Q3 earnings growth dropping to +14.5% once the sector’s contribution is excluded from the index. The semiconductor industry within the Tech sector has enjoyed a particularly robust demand environment lately, and that trend remains in place in Q3 as well, with Nvidia and Micron alone accounting for a significant part of the sector’s growth.
The favorable revisions trend noted earlier in the context of Q3 estimates is also at play with estimates for the last quarter of the year, with mostly the same sectors enjoying positive revisions.
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks Earnings Trends Highlights: Micron and Nvidia
For Immediate Release
Chicago, IL – September 17, 2026– Zacks Director of Research Sheraz Mian says, "Total S&P 500 earnings are currently expected to increase +24.0% from the same period last year on +11.3% higher revenues, with 14 of the 16 Zacks sectors expected to enjoy positive earnings growth."
A Broad-Based Earnings Growth Picture as Revisions Stay Positive
Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
Here are the key points:
The Earnings Big Picture
Since the start of Q3, the Energy sector has enjoyed the most pronounced upgrade to its earnings outlook, reflecting elevated oil prices as a result of the Persian Gulf situation. Other sectors enjoying positive estimate revisions since the start of Q3 include Aerospace, Industrial Products, Tech, Autos, Transportation, Finance and Utilities. It is significant to note that the aggregate revisions trend would still be positive if we excluded the positive revisions to the Energy or Tech sector.
The Tech sector remains a major contributor to aggregate earnings growth, with Q3 earnings growth dropping to +14.5% once the sector’s contribution is excluded from the index. The semiconductor industry within the Tech sector has enjoyed a particularly robust demand environment lately, and that trend remains in place in Q3 as well, with Nvidia and Micron alone accounting for a significant part of the sector’s growth.
The favorable revisions trend noted earlier in the context of Q3 estimates is also at play with estimates for the last quarter of the year, with mostly the same sectors enjoying positive revisions.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.