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Nvidia and Micron are part of Zacks Earnings Preview
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For Immediate Release
Chicago, IL – September 21, 2026 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Nvidia (NVDA - Free Report) and Micron (MU - Free Report) .
Q3 Earnings Season Preview: What Can Investors Expect?
The overall setup remains very favorable as we start looking ahead to the Q3 earnings season. S&P 500 earnings are expected to increase by +24% from the same period last year, the 8th straight quarter of double-digit earnings growth for the index.
The Tech sector remains a major growth contributor, but momentum is broad-based, with 14 of the 16 Zacks sectors on track to enjoy positive earnings growth in Q3. Importantly, the revisions trend remains positive and broad-based, highlighting a steadily improving outlook.
As noted earlier, the revisions trend has been positive, sustaining the favorable trend in place for almost a year now.
This positive revisions behavior is not a new development; they extend a tailwind that has been building for nearly a year. Historically, these upward adjustments were tightly concentrated in Technology and, more recently, Energy following Middle East supply disruptions. However, for Q3 2026, the constructive estimate revisions have broadened significantly, rising across 8 of the 16 Zacks sectors—including Transportation, Finance, Aerospace, Industrials, Utilities, and Autos alongside Tech and Energy.
On the negative side, Q3 estimates have been under pressure for these 8 sectors since the quarter got underway – Conglomerates, Basic Materials, Consumer Staples, Consumer Discretionary, Medical, Business Services, Retail, and Construction.
Sector Focus: Broad-Based Strength
Q3 earnings are expected to be above the year-earlier level for 14 of the 16 Zacks sectors, with 5 sectors expected to enjoy double-digit growth. The Conglomerates sector is the only one expected to have lower earnings in Q3 relative to the same period last year (down – 35.4%), while earnings for the Consumer Staples sector are expected to be flat.
The 5 sectors expected to enjoy double-digit earnings growth in Q3 are Aerospace (up +159.3%), Energy (+111.9%), Tech (+41.9%), Basic Materials (+31.2%), and Transportation (+15.1%).
Q3 earnings growth for the S&P 500 index drops to +20% from +24% once the Energy sector's contribution is excluded from the index. Excluding the Tech sector, Q3 earnings growth for the rest of the index drops to +14.4%.
Nvidia and Micron have been enjoying a record earnings run in recent quarters, and that performance continues in Q3 as well.
Nvidia's Q3 earnings are expected to increase +90% year-over-year on +91.2% higher revenues, while the year-over-year earnings and revenue growth rates for Micron are expected to be +938% and +348.6%, respectively.
Q3 earnings growth for the Tech sector gets cut by slightly more than half once contributions from Nvidia and Micron are excluded.
Q3 Earnings Season Scorecard
The Q3 earnings season will get the spotlight when the big banks report on October 13th, but the reporting cycle actually got underway with the September 10th quarterly releases from Oracle and Adobe.
The Oracle and Adobe reports were for these Tech companies' fiscal quarters ending in August, which get counted as part of the September-quarter tally. Homebuilder Lennar has since become the third S&P 500 member to report such Q3 results.
We have an additional six index members on deck to report their fiscal August-quarter results this week, including Costco, AutoZone, Darden and others.
Total Q3 earnings for the three S&P 500 members that have reported results already are up +22.6% from the same period last year on +14.9% higher revenues, with 33.3% beating EPS estimates and 66.7% besting revenue estimates.
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.
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/performancefor information about the performance numbers displayed in this press release.
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Nvidia and Micron are part of Zacks Earnings Preview
For Immediate Release
Chicago, IL – September 21, 2026 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Nvidia (NVDA - Free Report) and Micron (MU - Free Report) .
Q3 Earnings Season Preview: What Can Investors Expect?
The overall setup remains very favorable as we start looking ahead to the Q3 earnings season. S&P 500 earnings are expected to increase by +24% from the same period last year, the 8th straight quarter of double-digit earnings growth for the index.
The Tech sector remains a major growth contributor, but momentum is broad-based, with 14 of the 16 Zacks sectors on track to enjoy positive earnings growth in Q3. Importantly, the revisions trend remains positive and broad-based, highlighting a steadily improving outlook.
As noted earlier, the revisions trend has been positive, sustaining the favorable trend in place for almost a year now.
This positive revisions behavior is not a new development; they extend a tailwind that has been building for nearly a year. Historically, these upward adjustments were tightly concentrated in Technology and, more recently, Energy following Middle East supply disruptions. However, for Q3 2026, the constructive estimate revisions have broadened significantly, rising across 8 of the 16 Zacks sectors—including Transportation, Finance, Aerospace, Industrials, Utilities, and Autos alongside Tech and Energy.
On the negative side, Q3 estimates have been under pressure for these 8 sectors since the quarter got underway – Conglomerates, Basic Materials, Consumer Staples, Consumer Discretionary, Medical, Business Services, Retail, and Construction.
Sector Focus: Broad-Based Strength
Q3 earnings are expected to be above the year-earlier level for 14 of the 16 Zacks sectors, with 5 sectors expected to enjoy double-digit growth. The Conglomerates sector is the only one expected to have lower earnings in Q3 relative to the same period last year (down – 35.4%), while earnings for the Consumer Staples sector are expected to be flat.
The 5 sectors expected to enjoy double-digit earnings growth in Q3 are Aerospace (up +159.3%), Energy (+111.9%), Tech (+41.9%), Basic Materials (+31.2%), and Transportation (+15.1%).
Q3 earnings growth for the S&P 500 index drops to +20% from +24% once the Energy sector's contribution is excluded from the index. Excluding the Tech sector, Q3 earnings growth for the rest of the index drops to +14.4%.
Nvidia and Micron have been enjoying a record earnings run in recent quarters, and that performance continues in Q3 as well.
Nvidia's Q3 earnings are expected to increase +90% year-over-year on +91.2% higher revenues, while the year-over-year earnings and revenue growth rates for Micron are expected to be +938% and +348.6%, respectively.
Q3 earnings growth for the Tech sector gets cut by slightly more than half once contributions from Nvidia and Micron are excluded.
Q3 Earnings Season Scorecard
The Q3 earnings season will get the spotlight when the big banks report on October 13th, but the reporting cycle actually got underway with the September 10th quarterly releases from Oracle and Adobe.
The Oracle and Adobe reports were for these Tech companies' fiscal quarters ending in August, which get counted as part of the September-quarter tally. Homebuilder Lennar has since become the third S&P 500 member to report such Q3 results.
We have an additional six index members on deck to report their fiscal August-quarter results this week, including Costco, AutoZone, Darden and others.
Total Q3 earnings for the three S&P 500 members that have reported results already are up +22.6% from the same period last year on +14.9% higher revenues, with 33.3% beating EPS estimates and 66.7% besting revenue estimates.
For a detailed view of the evolving earnings picture, please check out our weekly Earnings Trends report here >>>> A Broad-Based Earnings Growth Picture As Revisions Stay Positive
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/performancefor information about the performance numbers displayed in this press release.