Chip and AI Giants Drive Nearly a Third of S&P 500 Earnings Growth This Quarter

A Wall Street Journal analysis suggests Alphabet, Microsoft and Amazon will not contribute enough to third-quarter S&P 500 earnings growth to stand out this week. Nvidia and Micron alone account for about a third of the roughly 30% year-over-year growth.

Ten companies, including Broadcom, Exxon Mobil and Meta, account for nearly two-thirds of the total. The concentration means index-level results depend heavily on a small group of names, and any miss from them would weigh on the broader market.

The Federal Reserve meets Oct. 27-28, and Robinhood reports third-quarter results after the close on Tuesday.