7 companies are driving 58% of all S&P 500 EPS growth in Q1.

Nvidia: 32%

Micron: 17%

Microsoft: 6%

Broadcom: 5%

Meanwhile, the entire S&P 500 is expected to grow EPS by just 12%.

That tells you everything:

This is not a broad earnings boom.

It is an AI-led profit concentration trade.

If those few names crack, the index story changes fast.