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U.S. Tech Sector Analysis

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies987
  • 7D-2.0%
  • 3M-6.0%
  • 1Y20.7%
  • YTD-5.9%

Over the last 7 days, the Tech industry has dropped 2.1%, driven by NVIDIA declining 6.7%. Meanwhile, Dell Technologies actually outperformed within the industry, gaining 21% in the last week. This takes the industry's 12 month performance to a gain of 21%. As for the next few years, earnings are expected to grow by 19% per annum.

Sector Valuation and Performance

Has the U.S. Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Mar 2026US$21.2tUS$2.7tUS$542.4b29.7x39.1x8x
Tue, 27 Jan 2026US$22.2tUS$2.6tUS$500.5b31.6x44.3x8.7x
Thu, 25 Dec 2025US$22.8tUS$2.6tUS$506.9b31.1x45.1x8.8x
Sat, 22 Nov 2025US$21.5tUS$2.6tUS$492.5b28.6x43.6x8.4x
Mon, 20 Oct 2025US$22.6tUS$2.5tUS$439.1b31.2x51.6x9.1x
Wed, 17 Sep 2025US$21.9tUS$2.5tUS$435.6b29.5x50.2x8.9x
Fri, 15 Aug 2025US$21.3tUS$2.4tUS$421.1b28.6x50.6x8.8x
Sun, 13 Jul 2025US$20.0tUS$2.4tUS$393.2b29.5x50.9x8.4x
Tue, 10 Jun 2025US$18.5tUS$2.4tUS$391.8b27.7x47.3x7.8x
Thu, 08 May 2025US$16.5tUS$2.3tUS$386.4b26.3x42.6x7x
Sat, 05 Apr 2025US$15.0tUS$2.3tUS$386.8b24.1x38.8x6.4x
Mon, 03 Mar 2025US$17.6tUS$2.3tUS$378.4b29.7x46.5x7.6x
Wed, 29 Jan 2025US$18.1tUS$2.3tUS$365.8b34.3x49.4x8x
Fri, 27 Dec 2024US$19.0tUS$2.3tUS$366.9b32.6x51.7x8.4x
Sun, 24 Nov 2024US$18.1tUS$2.3tUS$361.1b33x50.2x8.1x
Tue, 22 Oct 2024US$17.8tUS$2.2tUS$378.2b30.4x47x8.2x
Thu, 19 Sep 2024US$16.6tUS$2.2tUS$375.5b28.2x44.3x7.7x
Sat, 17 Aug 2024US$16.8tUS$2.1tUS$368.1b29x45.6x7.8x
Mon, 15 Jul 2024US$17.6tUS$2.1tUS$363.1b30.6x48.4x8.3x
Wed, 12 Jun 2024US$15.7tUS$2.1tUS$351.3b29.4x44.7x7.6x
Fri, 10 May 2024US$14.5tUS$2.0tUS$337.4b29.5x42.9x7.1x
Sun, 07 Apr 2024US$14.6tUS$2.0tUS$328.6b28.3x44.4x7.1x
Tue, 05 Mar 2024US$14.8tUS$2.0tUS$327.4b27.9x45.3x7.3x
Thu, 01 Feb 2024US$14.1tUS$2.1tUS$302.0b26.1x46.8x6.9x
Sat, 30 Dec 2023US$13.5tUS$2.1tUS$292.5b26.1x46.1x6.6x
Mon, 27 Nov 2023US$12.7tUS$2.0tUS$290.1b25x43.8x6.2x
Wed, 25 Oct 2023US$11.4tUS$2.0tUS$269.7b23.6x42.3x5.6x
Fri, 22 Sep 2023US$11.4tUS$2.0tUS$272.9b23.7x41.9x5.6x
Sun, 20 Aug 2023US$11.4tUS$2.0tUS$264.4b24.5x43.2x5.6x
Tue, 18 Jul 2023US$12.2tUS$2.0tUS$257.8b25.3x47.5x6x
Thu, 15 Jun 2023US$11.9tUS$2.0tUS$264.2b24.8x45x5.9x
Sat, 13 May 2023US$10.4tUS$2.0tUS$262.1b22.8x39.5x5.1x
Mon, 10 Apr 2023US$10.2tUS$2.0tUS$275.0b22.5x37.2x5x
Wed, 08 Mar 2023US$11.0tUS$2.3tUS$298.5b22.8x36.7x4.8x
Price to Earnings Ratio

36.7x


Total Market Cap: US$11.0tTotal Earnings: US$298.5bTotal Revenue: US$2.3tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Sector Price to Earnings3Y Average 45.4x202420252026
Current Industry PE
  • Investors are pessimistic on the American Information Technology industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 40.0x which is lower than its 3-year average PE of 45.4x.
  • The 3-year average PS ratio of 7.3x is lower than the industry's current PS ratio of 8.1x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 5.5% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Tech sector?

US Market-0.57%
Tech-2.05%
Communications1.68%
Electronic Equipment and Components1.14%
Software-0.10%
Tech Hardware-0.29%
IT-4.14%
Semiconductors-4.37%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 31.3x.
    • Analysts are expecting annual earnings growth of 22.4%, which is higher than its past year's earnings growth of 17.4% per year.
  • Investors are most pessimistic about the Software industry, which is trading below its 3-year average of 53.9x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 24% over the next 5 years.
  • This is better than its past earnings growth rate of 4.1% per year.
  • In contrast, the Tech Hardware industry is expected to see its earnings grow by 9.6% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
DELL Dell TechnologiesUS$148.0821.1%
+US$17.1b		44.1%PE16.5x
KEYS Keysight TechnologiesUS$307.3326.2%
+US$11.0b		92.6%PE53.8x
GLW CorningUS$150.387.8%
+US$9.3b		199.9%PE80.8x
CRM SalesforceUS$194.795.2%
+US$9.0b		-34.6%PE24.5x
INTC IntelUS$45.613.4%
+US$7.5b		92.2%PS4.3x

Latest News

NVDA
US$177.19
NVIDIA
7D
-6.7%
1Y
41.8%
GLW
US$150.38
Corning
7D
7.8%
1Y
199.9%
KEYS
US$307.33
Keysight Technologies
7D
26.2%
1Y
92.6%
IBM
US$240.21
International Business Machines
7D
-6.6%
1Y
-4.8%
INTU
US$409.03
Intuit
7D
7.5%
1Y
-33.4%
DELL
US$148.08
Dell Technologies
7D
21.1%
1Y
44.1%

Dell Technologies (DELL): The AI Architect – A Multi-Billion Dollar Pivot into the "AI Factory" Era

Dell Technologies (DELL) has shattered expectations, cementing its status as the premier infrastructure partner for the generative AI era. Following its blockbuster Q4 fiscal 2026 earnings report on February 26, 2026 , the stock surged nearly 20% to $147.17 in mid-day trading on Friday.
CRCL
US$83.44
Circle Internet Group
7D
32.4%
1Y
n/a

Circle Internet Group: From Crypto Proxy to Rate-Sensitive Financial Infrastructure

The market’s perception of Circle has shifted faster than its business itself. For much of the past year, CRCL traded like a speculative crypto equity, moving largely with sentiment rather than fundamentals.
AVGO
US$319.55
Broadcom
7D
-3.9%
1Y
60.2%
CRM
US$194.79
Salesforce
7D
5.2%
1Y
-34.6%
SHOP
US$120.73
Shopify
7D
-4.3%
1Y
7.8%
MSFT
US$392.74
Microsoft
7D
-1.1%
1Y
-1.1%
MU
US$412.37
Micron Technology
7D
-3.7%
1Y
340.4%
LRCX
US$233.89
Lam Research
7D
-4.5%
1Y
204.8%
ORCL
US$145.40
Oracle
7D
-1.8%
1Y
-12.4%

ORCL: AI Infrastructure Buildout And Debt Funding Will Drive Future Upside

Analysts have trimmed their average price targets on Oracle by around $20 to $30. The changes reflect recent rating adjustments and revised expectations for fair value, discount rate, revenue growth, profit margins, and future P/E assumptions.
APP
US$434.77
AppLovin
7D
3.8%
1Y
33.5%

APP: Higher 2026 Revenue Outlook And Rich Margins Will Support Upside Potential

Analysts have adjusted their price target on AppLovin to $476.89 from $530.78, citing updated assumptions around revenue growth, profit margins, and future P/E multiples. What's in the News AppLovin issued new earnings guidance for the first quarter of 2026, setting expected total revenue in a range of US$1.745b to US$1.775b (Key Developments).
INTC
US$45.61
Intel
7D
3.4%
1Y
92.2%

INTC: AI And Foundry Partnerships Will Test Rich Future P E Expectations

Intel's updated fair value estimate edged up to $47.12 from $46.97 as analysts balanced a series of upward and downward price target revisions with slightly adjusted assumptions around discount rate, revenue growth, profit margins and future P/E. This reflects a more finely tuned view of the company’s execution and foundry opportunity.