S&P 500 Earnings Concentration
📈 S&P 500 Earnings Concentration
Micron ($MU) and Nvidia ($NVDA) are expected to account for 36% of S&P 500 earnings growth in Q3 2026, contributing +5.2 and +4.6 percentage points to the index’s +27% YoY growth.
The next 8 contributors are projected to add +8.2 points, or ~30%. The remaining 490 stocks are expected to add +9.2 points, or 34%.
Excluding the top 10 contributors, earnings growth is estimated to decline -11% YoY.
Never in history has market concentration been like this.
✔️ @venture
