Alphabet Inc Class CAlphabet is a major contributor to tech sector earnings growth, boosting overall S&P 500 earnings.
S&P 500 companies are expected to report a 23.0% year-over-year increase in third-quarter earnings on 11.1% higher revenues, according to Zacks Investment Research. This would mark the most broad-based earnings growth in recent times, with 14 of the 16 Zacks sectors projected to see positive earnings growth and six sectors expected to deliver double-digit gains. Only Conglomerates and Consumer Staples are expected to see declines, at -35.4% and -0.1%, respectively. Within the Tech sector, Alphabet, Micron, and Nvidia are major contributors; excluding these three, tech earnings growth would be 18.7% instead of 40.5%. The favorable revisions trend is also extending into the fourth quarter, with most sectors enjoying positive estimate revisions.
Alphabet Inc Class CAlphabet is a major contributor to tech sector earnings growth, boosting overall S&P 500 earnings.
NVIDIA CorporationNvidia is a major contributor to tech sector earnings growth, boosting overall S&P 500 earnings.
Micron Technology IncMicron is a major contributor to tech sector earnings growth, boosting overall S&P 500 earnings.