Nvidia and Micron are part of Zacks Earnings Preview

NVDA is expected to report earnings growth of 90% year-over-year in Q3 2026, while MU is projected to post a 938% surge, according to Zacks Investment Research. Both semiconductor names anchor a broader S&P 500 earnings season forecast to climb 24% in the quarter, the eighth straight period of double-digit expansion.

The earnings strength extends beyond Tech. Zacks highlights positive estimate revisions across 14 of 16 S&P sectors, including Transportation, Finance, and Aerospace, signaling broad-based corporate momentum.

NVDA's 90% growth reflects continued demand tailwinds in AI infrastructure and data center buildouts. MU's triple-digit percentage gain comes off a depressed prior-year comparison, as memory chip pricing and volume recover from the 2025 downcycle.

The consecutive quarters of double-digit S&P earnings growth underpin equity valuations heading into the quarter's reporting cycle, with Technology contributing the largest absolute dollar gains but no longer carrying the entire load.