According to Zhito Finance APP, Nvidia (NVDA.US) has gained investor favor this year with astonishing revenue growth, but this S&P 500 index ai champion is about to drop to second place. S&P Global Market Intelligence and MarketSurge have noted that analysts believe the memory chip manufacturer Micron Technology (MU.US) will see an 84.2% increase in revenue in the fourth quarter, outpacing Nvidia's expected 72.1% quarter revenue growth.

Such strong growth reminds investors that Nvidia is not the only growth story worth paying attention to in the S&P 500 index. Nvidia's stock price has risen 179% this year, making this point easy to overlook.

Micron's chips are becoming a key component for data-hungry ai learning models. Analysts believe the company's revenue will reach $8.7 billion this year. Within the S&P 500 index, no component company is expected to grow as rapidly in the fourth quarter.

Moreover, Micron's growth story will not be limited to the fourth quarter. Analysts anticipate that its eps will surge by 588% in 2025.

However, investors remain cautious about Micron's stocks. The company's RS rating is only 48, and its stock price has increased by 14.8% this year. Micron is known for its unstable profit growth.

At the same time, the market is also assessing the growth situation of the s&p 500 index in the fourth quarter. Investors are preparing for robust growth in the s&p 500 index, excluding micron and nvidia.

FactSet reports that analysts expect the companies in the s&p 500 index to see a collective revenue growth of 4.7% in the fourth quarter. Among the companies in the s&p 500 index, eight are expected to achieve a quarterly revenue increase of 40% or more. This includes some less obvious ai companies, such as hard drive manufacturers seagate technology (STX.US) and western digital (WDC.US).

However, for now, micron is the best-performing company.