**[Micron Earnings Preview: EPS Expected to Grow 940% YoY, Potentially Surpassing NVIDIA as the Largest Contributor to S&P 500 Profit Growth]** BlockBeats News, September 30 – Micron Technology is set to release its fiscal Q4 2026 earnings after the U.S. stock market closes on Wednesday. According to FactSet data, analysts estimate that Micron's earnings per share (EPS) for the quarter ending in August will grow approximately 940% year-over-year. If the forecast is realized, Micron could, for the first time in at least two and a half years, surpass NVIDIA to become the largest single contributor to S&P 500 profit growth in Q3. FactSet projects that S&P 500 profits will grow 29.1% year-over-year in Q3; excluding Micron, the growth rate would drop to 24%, indicating that Micron's earnings growth alone could boost the index's overall growth rate by about 5 percentage points. Increased demand for high-bandwidth memory and other storage products in AI servers, coupled with relatively limited supply expansion, has driven improvements in memory chip prices and profitability. Micron's contribution to S&P 500 profit growth has risen from ninth place in Q3 last year to sixth place in Q4 and further to third place in the first half of this year. Another key focus of this earnings report will be the progress of HBM4 mass production. Susquehanna analyst Mehdi Hosseini predicts that large-scale production and shipments of NVIDIA's Rubin platform may be more concentrated after April 2027, meaning that HBM4's significant revenue contribution to Micron may primarily materialize in 2027. Hosseini estimates that the average selling price of HBM4 will be more than 50% higher than the current HBM3e and has set Micron's fiscal 2027 EPS forecast at approximately $200, above the market consensus of around $165. Micron's stock price has risen nearly 280% this year, with a market capitalization of approximately $1.2 trillion.