Charles Schwab chief investment strategist Liz Ann Sonders said Nvidia and Micron are expected to account for one-third of the S&P 500’s earnings growth in 2026. According to her figures, Nvidia alone represents 18% of the projected year-over-year increase, while Micron’s AI memory chips contribute another 14 percentage points.
Sonders also pointed to Bitcoin’s move above $80,000 this week, a multi-month high, with gains of more than 20% over the week. She linked the rally to the return of a “debasement trade,” where capital moves into scarce assets such as Bitcoin and gold as confidence in the US dollar and Treasury policy weakens.
Nvidia is due to release earnings later today, a report traders are treating as a major read on the broader AI sector. Market participants are watching whether concentrated AI profit growth can continue to support index weightings, and whether Bitcoin’s breakout signals a more durable rotation into hedge assets.
Charles Schwab chief investment strategist Liz Ann Sonders said Nvidia and Micron are set to contribute one-third of the S&P 500’s earnings growth in 2026.
She said Nvidia alone accounts for 18% of the expected year-over-year increase, while Micron’s AI memory chips add another 14 percentage points.
Bitcoin climbs past $80,000
Sonders also said Bitcoin broke above $80,000 this week, reaching a multi-month high and posting gains of more than 20% during the week. She tied the move to the return of a “debasement trade,” with capital flowing into scarce assets such as Bitcoin and gold as confidence in the US dollar and Treasury policy weakens.
Nvidia earnings due later today
Nvidia is scheduled to release earnings today, a report being watched as a key test for the broader AI sector. Traders are focused on whether the concentration of AI-driven earnings growth can keep supporting index weightings, and whether Bitcoin’s breakout points to a lasting rotation into hedge assets.
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