Semiconductors, Led by NVIDIA, to Drive 39% of S&P 500 2026 Earnings Growth
Semiconductors are projected to deliver about 39% of S&P 500's 2026 earnings growth, driven by Nvidia and Micron after respective Q4 EPS beats and a ~3% rise in 2026E operating EPS revisions year-to-date. Warren Buffett will delay his 2025 $4.5B Gates Foundation donation following disclosures of a Gates-Epstein connection.
1. Semiconductors Drive Majority of S&P Earnings Growth
Analysts project that semiconductors will account for approximately 39% of the S&P 500’s year-over-year earnings growth in 2026. Technology operating EPS revisions are up roughly 3% year-to-date, with Micron posting Q2 EPS of $12.20, $3.41 above estimates, and Nvidia delivering Q4 EPS of $1.62, $0.10 above forecasts. Nvidia’s next quarterly report is scheduled for May.
2. Buffett Pauses Gates Foundation Donation
Warren Buffett has announced he will wait before making his customary 2025 gift to the Gates Foundation, which would have exceeded $4.5 billion. This decision follows disclosures of Bill Gates’ past meetings with Jeffrey Epstein and comes after Buffett signaled plans to direct 99.5% of his remaining wealth to a family-run charitable trust.