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U.S. Tech Sector Analysis

UpdatedJun 08, 2026
DataAggregated Company Financials
Companies997
  • 7D-6.0%
  • 3M24.1%
  • 1Y43.3%
  • YTD18.2%

Over the last 7 days, the Tech industry has dropped 5.2%, driven by pullbacks in Broadcom and Microsoft of 14% and 7.5%, respectively. Meanwhile, Marvell Technology actually outperformed within the industry, gaining 29% in the last week. Over the past 12 months, the industry was up 44%. As for the next few years, earnings are expected to grow by 21% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 08 Jun 2026US$26.7tUS$2.8tUS$617.3b34.4x43.2x9.4x
Wed, 06 May 2026US$24.6tUS$2.8tUS$574.7b33.8x42.8x8.9x
Fri, 03 Apr 2026US$20.7tUS$2.7tUS$554.9b29.8x37.3x7.7x
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
Price to Earnings Ratio

45x


Total Market Cap: US$11.9tTotal Earnings: US$264.2bTotal Revenue: US$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Sector Price to Earnings3Y Average 45.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Information Technology industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 45.3x.
  • The 3-year average PS ratio of 7.5x is lower than the industry's current PS ratio of 9.4x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 33% per year over the last three years.
  • Revenues for these companies have grown 12% 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-2.49%
Tech-5.96%
Electronic Equipment and Components-1.43%
Tech Hardware-2.01%
Communications-2.16%
Semiconductors-5.91%
Software-9.53%
IT-10.90%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 33.8x.
    • Analysts are expecting annual earnings growth of 26.9%, which is higher than its past year's earnings growth of 10.6% per year.
  • Investors are most pessimistic about the Tech Hardware industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 33.6x.
Forecasted Growth
  • Analysts are most optimistic on the Electronic Equipment and Components industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • In contrast, the Tech Hardware industry is expected to see its earnings grow by 11% 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
MRVL Marvell TechnologyUS$263.4720.1%
+US$38.5b		281.1%PE91.2x
HPE Hewlett Packard EnterpriseUS$49.2014.3%
+US$8.0b		171.7%PE45.2x
FTNT FortinetUS$144.684.9%
+US$4.9b		37.9%PE54.2x
CSCO Cisco SystemsUS$121.641.0%
+US$4.8b		84.1%PE40.1x
COHR CoherentUS$376.993.9%
+US$2.8b		364.3%PE184.1x

Latest News

CSCO
US$121.64
Cisco Systems
7D
1.0%
1Y
84.1%
MU
US$864.01
Micron Technology
7D
-11.0%
1Y
695.9%
Seeking Alpha • 19h

Micron: Robotics Supercycle Meets Fed Rate Hike Risks

Summary This article analyzes new risks facing Micron, which prompts me to downgrade the stock despite its lingering high attractiveness. The cyclicality risk is becoming less material, as I anticipate a new era of massive secular growth driven by robotics in the 2030s. The article examines Micron's strategic economic moat, which leaves the company well-positioned for the next stage of growth. An analysis of the core risk—Fed rate hikes—reveals three factors that could weigh on MU's valuation in the short term. Read the full article on Seeking Alpha
NVDA
US$205.10
NVIDIA
7D
-2.9%
1Y
44.7%
AVGO
US$385.73
Broadcom
7D
-13.7%
1Y
56.2%
HPE
US$49.20
Hewlett Packard Enterprise
7D
14.3%
1Y
171.7%
FLEX
US$151.92
Flex
7D
2.6%
1Y
247.5%
COHR
US$376.99
Coherent
7D
3.9%
1Y
364.3%
MSFT
US$416.67
Microsoft
7D
-9.5%
1Y
-11.9%
FTNT
US$144.68
Fortinet
7D
4.9%
1Y
37.9%
Narrative Update • Jun 05

FTNT: Earnings Execution And AI Security Platform Position Will Shape Future Upside

The analyst price target for Fortinet has been revised from $109.27 to $140.34. Analysts attribute this change to updated assumptions for slightly higher revenue growth, a modestly higher profit margin, and a higher future P/E multiple, partly supported by recent sector checks and a series of price target increases across the cybersecurity peer group.
AMD
US$466.38
Advanced Micro Devices
7D
-9.6%
1Y
301.4%
Narrative Update • Jun 05

AMD: Agentic AI CPU Hype Will Eventually Pressure Future Margins

Analysts raised the implied fair value estimate for AMD stock from $225.00 to $330.50, pointing to higher Street price targets that reflect growing expectations for the agentic AI CPU opportunity and AMD's potential role as a key alternative provider in an expanding AI compute market. Analyst Commentary Recent Street research around Advanced Micro Devices centers on how agentic AI could reshape CPU demand and AMD's role in that build out.
PLTR
US$135.53
Palantir Technologies
7D
-15.6%
1Y
2.6%
MRVL
US$263.47
Marvell Technology
7D
20.1%
1Y
281.1%
Seeking Alpha • Jun 05

Marvell: Strong Buy, Nvidia's Trillion-Dollar Call Looks Realistic

Summary Marvell Technology is upgraded to strong buy as AI and data center demand drive robust growth and upwardly revised guidance. MRVL's margin pressure is viewed positively, reflecting a shift to high-demand custom silicon with lower margins but strong dollar profits from hyperscalers. Guidance calls for FY2027 revenue of $11.5B (+40%) and FY2028 revenue of $16.5B (+45%), with accelerating growth and margin recovery expected. My price target rises to $375.28, reflecting higher growth expectations, expanded EV/EBITDA multiple, and MRVL's potential to reach a trillion-dollar valuation. Read the full article on Seeking Alpha
MSI
US$410.34
Motorola Solutions
7D
1.8%
1Y
-1.8%
INTC
US$99.17
Intel
7D
-9.3%
1Y
384.2%
AAPL
US$307.34
Apple
7D
-1.5%
1Y
50.7%
GLW
US$177.58
Corning
7D
0.5%
1Y
248.9%
Narrative Update • Jun 02

GLW: AI Infrastructure Euphoria Will Likely Limit Future Share Upside

Corning's updated analyst narrative keeps fair value steady at $149.00 per share. A series of recent price target increases and its addition to a major "US 1 List" reflect analysts' focus on slightly higher modeled revenue growth, modestly stronger profit margins, and a marginally lower future P/E multiple.