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Micron and Nvidia Earnings Will Carry the Whole Market, and That's Okay
Everybody is passing around the scary version of this upcoming earnings season, that the top ten stocks will account for roughly two-thirds of the S&P 500's earnings growth and that Micron and Nvidia alone will carry more than a third of it while the median company won't grow at all. I want to make the case that this is okay. If you own a market-cap-weighted index like the QQQ or the SMH, those two chip names are doing the heavy lifting and saving you during a couple of thin quarters, which is exactly what a market-cap-weighted index is supposed to do. Micron is now projected to do around…
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