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Micron's Earnings Are a Must-Watch Market Event - with Profit Growth Approaching 1,000%
Micron's massive growth is 'coming at nearly pure profit,' and that's starting to have real implications for the S&P 500. Now Wall Street has something to pay attention to. Micron Technology has become a stock-market darling over the past year, and as the company and its profit pool have exploded in size, Micron's results are increasingly relevant to the S&P 500 SPX. The company is due to post its financials on Wednesday afternoon.Nvidia and Micron are projected to be the top contributors to S&P 500 earnings growth for what's referred to by FactSet as the second quarter, meaning reporting periods that end in the months of May, June or July. Without Nvidia and Micron, the estimated earnings growth rate for the S&P 500 would fall to 14.9% from 22%, FactSet senior earnings analyst John Butters told MarketWatch.Micron has been shifting more of its business toward high-bandwidth memory, which is increasingly crucial for AI applications - and also much more profitable than traditional dyna
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