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U.S. IT Industry Analysis

UpdatedJun 28, 2026
DataAggregated Company Financials
Companies121
  • 7D2.4%
  • 3M9.9%
  • 1Y-11.5%
  • YTD-12.1%

The IT industry is up 2.4% in the last week, with International Business Machines up 9.0%. During this same period, the CoreWeave underperformed, falling 18%. In the past year, the industry is down 11%. Looking forward, earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

Has the U.S. IT Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Jun 2026US$894.3bUS$260.6bUS$20.2b16.4x44.2x3.4x
Tue, 26 May 2026US$872.1bUS$258.8bUS$20.3b20.8x43.1x3.4x
Thu, 23 Apr 2026US$894.1bUS$259.8bUS$21.6b22.1x41.4x3.4x
Sat, 21 Mar 2026US$873.6bUS$259.6bUS$21.6b19.4x40.5x3.4x
Mon, 16 Feb 2026US$900.7bUS$256.5bUS$21.7b23.2x41.5x3.5x
Wed, 14 Jan 2026US$1.1tUS$252.7bUS$19.8b28.8x54.7x4.3x
Fri, 12 Dec 2025US$1.1tUS$282.1bUS$21.0b30x53.1x4x
Sun, 09 Nov 2025US$1.1tUS$280.3bUS$20.2b31.1x53.9x3.9x
Tue, 07 Oct 2025US$1.1tUS$282.7bUS$20.1b32.9x54.8x3.9x
Thu, 04 Sep 2025US$971.1bUS$250.9bUS$19.3b32.4x50.3x3.9x
Sat, 02 Aug 2025US$955.1bUS$243.3bUS$17.8b26.3x53.6x3.9x
Mon, 30 Jun 2025US$1.0tUS$241.7bUS$17.4b28.9x58.3x4.2x
Wed, 28 May 2025US$930.5bUS$240.2bUS$16.9b29.9x54.9x3.9x
Fri, 25 Apr 2025US$833.7bUS$242.3bUS$18.5b33.4x45.1x3.4x
Sun, 23 Mar 2025US$868.2bUS$240.8bUS$19.2b44.7x45.2x3.6x
Tue, 18 Feb 2025US$1.0tUS$239.4bUS$18.2b44.8x57x4.3x
Thu, 16 Jan 2025US$851.6bUS$234.1bUS$16.3b39.7x52.2x3.6x
Sat, 14 Dec 2024US$903.2bUS$233.2bUS$16.4b45.5x55.1x3.9x
Mon, 11 Nov 2024US$816.6bUS$233.2bUS$16.1b46.9x50.6x3.5x
Wed, 09 Oct 2024US$798.5bUS$232.8bUS$17.8b43.4x45x3.4x
Fri, 06 Sep 2024US$754.3bUS$233.3bUS$17.5b35.4x43x3.2x
Sun, 04 Aug 2024US$703.2bUS$232.5bUS$16.1b28.6x43.6x3x
Tue, 02 Jul 2024US$710.2bUS$237.0bUS$17.2b29.1x41.3x3x
Thu, 30 May 2024US$700.2bUS$237.0bUS$17.2b28x40.6x3x
Sat, 27 Apr 2024US$712.8bUS$228.0bUS$14.4b25.1x49.6x3.1x
Mon, 25 Mar 2024US$776.8bUS$227.6bUS$14.6b22.3x53.3x3.4x
Wed, 21 Feb 2024US$811.5bUS$227.5bUS$14.2b22.9x57.1x3.6x
Fri, 19 Jan 2024US$792.7bUS$229.4bUS$12.9b21.1x61.2x3.5x
Sun, 17 Dec 2023US$786.3bUS$229.0bUS$12.8b20.3x61.4x3.4x
Tue, 14 Nov 2023US$688.7bUS$228.4bUS$12.6b20.7x54.5x3x
Thu, 12 Oct 2023US$676.3bUS$227.2bUS$6.5b21.4x104.5x3x
Sat, 09 Sep 2023US$706.7bUS$226.6bUS$6.8b23.2x103.8x3.1x
Mon, 07 Aug 2023US$680.8bUS$226.3bUS$6.4b24x106.1x3x
Wed, 05 Jul 2023US$682.3bUS$228.6bUS$6.1b23.6x112x3x
Price to Earnings Ratio

112x


Total Market Cap: US$682.3bTotal Earnings: US$6.1bTotal Revenue: US$228.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. IT Industry Price to Earnings3Y Average 56.1x202420252026
Current Industry PE
  • Investors are pessimistic on the American IT 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 44.2x which is lower than its 3-year average PE of 56.1x.
  • The industry is trading close to its 3-year average PS ratio of 3.5x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 49% per year over the last three years.
  • Revenues for these companies have grown 4.5% 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 industry?

US Market-2.52%
Tech-5.78%
IT2.41%
IT Consulting5.65%
Internet Services and Infrastructure0.19%
Data Processing Services-0.90%
Industry PE
  • Investors are most optimistic about the Data Processing Services industry, which is trading close to its 3-year average PE ratio of 27.7x.
    • Analysts are expecting annual earnings growth of 13.3%, which is lower than the prior year's growth of 25.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Internet Services and Infrastructure industry, expecting annual earnings growth of 35% over the next 5 years.
  • However this is lower than its past earnings growth rate of 88% per year.
  • In contrast, the IT Consulting industry is expected to see its earnings grow by 7.6% 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
IBM International Business MachinesUS$271.639.0%
+US$21.2b		-6.2%PE23.8x
SHOP ShopifyUS$116.867.4%
+US$10.4b		2.8%PE114.1x
SNOW SnowflakeUS$248.967.2%
+US$5.8b		11.8%PS17.1x
NET CloudflareUS$237.245.9%
+US$4.7b		22.3%PS36x
OKTA OktaUS$124.285.5%
+US$1.1b		26.3%PE87.5x

Latest News

CTSH
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Cognizant Technology Solutions
7D
-8.4%
1Y
-48.5%
ACN
US$128.98
Accenture
7D
0.8%
1Y
-56.3%
NET
US$237.24
Cloudflare
7D
5.9%
1Y
22.3%
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VRSN
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VeriSign
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1Y
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AKAM
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Akamai Technologies
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1Y
42.3%
SNOW
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Snowflake
7D
7.2%
1Y
11.8%
IBM
US$271.63
International Business Machines
7D
9.0%
1Y
-6.2%
CRWV
US$96.58
CoreWeave
7D
-18.1%
1Y
-39.6%
Narrative Update • Jun 26

CRWV: Heavy Debt Funding For AI Buildout Will Constrain Future Upside

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GDS
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GDS Holdings
7D
-7.1%
1Y
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OKTA
US$124.28
Okta
7D
5.5%
1Y
26.3%
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Okta Is Vindicated As Agentic AI Winner, But It's Time To Say Goodbye

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DOCN
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DigitalOcean Holdings
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392.9%
SHOP
US$116.86
Shopify
7D
7.4%
1Y
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APLD
US$39.16
Applied Digital
7D
-15.9%
1Y
277.3%
TWLO
US$191.57
Twilio
7D
2.9%
1Y
56.1%
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GDDY
US$84.55
GoDaddy
7D
9.7%
1Y
-53.0%
Analysis Article • Jun 20

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MDB
US$314.01
MongoDB
7D
-5.6%
1Y
49.6%
Narrative Update • Jun 19

MDB: Atlas And AI Data Workloads Will Drive Future Share Upside

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