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U.S. IT Industry Analysis

UpdatedDec 15, 2025
DataAggregated Company Financials
Companies122
  • 7D0.4%
  • 3M7.5%
  • 1Y14.0%
  • YTD20.2%

Over the last 7 days, the IT industry has remained flat, although notably CoreWeave declined by 11%. As for the the longer term, the industry is up 14% over the past 12 months. Looking forward, earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 15 Dec 2025US$1.1tUS$282.0bUS$21.0b29.9x52.1x3.9x
Wed, 12 Nov 2025US$1.1tUS$281.0bUS$20.5b30.5x54.1x3.9x
Fri, 10 Oct 2025US$1.1tUS$282.2bUS$20.0b32.4x55.8x4x
Sun, 07 Sep 2025US$974.0bUS$250.9bUS$19.3b29.3x50.4x3.9x
Tue, 05 Aug 2025US$921.3bUS$243.5bUS$17.8b26.8x51.7x3.8x
Thu, 03 Jul 2025US$1.0tUS$241.7bUS$17.4b28.9x58.2x4.2x
Sat, 31 May 2025US$945.0bUS$240.3bUS$17.0b29x55.5x3.9x
Mon, 28 Apr 2025US$841.9bUS$242.4bUS$18.0b31.6x46.9x3.5x
Wed, 26 Mar 2025US$887.0bUS$240.8bUS$19.2b47.3x46.1x3.7x
Fri, 21 Feb 2025US$1.0tUS$239.6bUS$18.2b45.7x56.9x4.3x
Sun, 19 Jan 2025US$872.5bUS$234.1bUS$16.3b42.1x53.4x3.7x
Tue, 17 Dec 2024US$894.9bUS$233.2bUS$16.4b44.7x54.6x3.8x
Thu, 14 Nov 2024US$848.9bUS$232.6bUS$16.3b46.1x51.9x3.6x
Sat, 12 Oct 2024US$820.4bUS$232.9bUS$17.8b43.4x46.2x3.5x
Mon, 09 Sep 2024US$739.3bUS$233.3bUS$17.5b35.4x42.1x3.2x
Wed, 07 Aug 2024US$679.2bUS$232.5bUS$16.1b28.6x42.1x2.9x
Fri, 05 Jul 2024US$720.0bUS$237.0bUS$17.2b28.3x41.9x3x
Sun, 02 Jun 2024US$671.5bUS$237.1bUS$17.3b28.3x38.8x2.8x
Tue, 30 Apr 2024US$712.8bUS$228.0bUS$14.4b25x49.6x3.1x
Thu, 28 Mar 2024US$781.0bUS$227.7bUS$14.2b22.3x55.2x3.4x
Sat, 24 Feb 2024US$827.0bUS$227.5bUS$14.2b22x58.2x3.6x
Mon, 22 Jan 2024US$808.6bUS$229.4bUS$12.9b22x62.5x3.5x
Wed, 20 Dec 2023US$787.8bUS$229.5bUS$12.8b20.3x61.5x3.4x
Fri, 17 Nov 2023US$716.5bUS$228.4bUS$12.7b21.1x56.4x3.1x
Sun, 15 Oct 2023US$651.0bUS$227.2bUS$6.5b20.7x100.6x2.9x
Tue, 12 Sep 2023US$711.0bUS$226.6bUS$6.8b23.5x104.5x3.1x
Thu, 10 Aug 2023US$665.3bUS$226.0bUS$6.7b22.8x99.3x2.9x
Sat, 08 Jul 2023US$667.8bUS$228.6bUS$6.1b24.2x109.6x2.9x
Mon, 05 Jun 2023US$673.6bUS$228.3bUS$5.9b24x113.8x3x
Wed, 03 May 2023US$570.0bUS$225.4bUS$3.2b21.8x178.7x2.5x
Fri, 31 Mar 2023US$592.0bUS$225.6bUS$2.3b21.9x252.5x2.6x
Sun, 26 Feb 2023US$1.9tUS$462.6bUS$22.4b26.6x86.8x4.2x
Tue, 24 Jan 2023US$2.0tUS$458.2bUS$39.1b28.7x52x4.4x
Thu, 22 Dec 2022US$1.9tUS$457.8bUS$39.2b28x48.1x4.1x
Price to Earnings Ratio

48.1x


Total Market Cap: US$1.9tTotal Earnings: US$39.2bTotal Revenue: US$457.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. IT Industry Price to Earnings3Y Average 68.8x202320242025
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 52.1x which is lower than its 3-year average PE of 68.8x.
  • The 3-year average PS ratio of 3.5x is lower than the industry's current PS ratio of 3.9x.
Past Earnings Growth
  • The earnings for companies in the IT industry have declined 19% per year over the last three years,
  • Revenues have also declined 15% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

US Market-0.59%
Tech-2.39%
IT0.38%
IT Consulting1.11%
Data Processing Services0.041%
Internet Services and Infrastructure-0.45%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 31.2x.
    • Analysts are expecting annual earnings growth of 9.9%, which is lower than the prior year's growth of 12.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Internet Services and Infrastructure industry, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings growth rate of 24% per year.
  • In contrast, the IT Consulting industry is expected to see its earnings grow by 9.9% 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
SHOP ShopifyUS$164.193.6%
+US$7.5b		41.6%PE120x
ACN AccentureUS$271.561.9%
+US$1.8b		-23.9%PE21.8x
CTSH Cognizant Technology SolutionsUS$83.944.0%
+US$1.6b		4.0%PE19x
OKTA OktaUS$90.183.3%
+US$512.2m		6.4%PE82x
IT GartnerUS$233.892.9%
+US$476.4m		-53.5%PE19x

Latest News

IT
US$233.89
Gartner
7D
2.9%
1Y
-53.5%
GDDY
US$124.80
GoDaddy
7D
-2.0%
1Y
-40.3%

GDDY: Mixed Outlook Will Shape Balance Between AI Progress And Earnings Efficiency

Analysts have trimmed their price target on GoDaddy to approximately $134 from $150, citing slightly slower expected revenue growth and a modestly higher discount rate, while also highlighting resilient bookings, solid Q3 beats, and a stronger long term margin profile. Analyst Commentary Bearish analysts have recently cut their price targets on GoDaddy, pointing to a combination of mixed near term guidance and reduced confidence in the durability of elevated growth trends.
VRSN
US$242.00
VeriSign
7D
-3.6%
1Y
24.0%
CTSH
US$83.94
Cognizant Technology Solutions
7D
4.0%
1Y
4.0%
KC
US$11.31
Kingsoft Cloud Holdings
7D
-5.0%
1Y
26.5%

KC: Higher Future Multiple Will Support Shares Despite Slower Expansion

Analysts have raised their price target for Kingsoft Cloud Holdings by approximately 9 percent to an implied fair value of about $14.18 per share, citing a higher long term valuation multiple despite moderating revenue growth expectations and largely unchanged profit margin forecasts. What's in the News Board meeting scheduled for November 19, 2025, to review and approve unaudited third quarter 2025 results for Kingsoft Cloud Holdings and its consolidated entities (company filing).
CHOW
US$1.00
ChowChow Cloud International Holdings
7D
-89.5%
1Y
n/a
SNOW
US$217.93
Snowflake
7D
-3.3%
1Y
26.4%

SNOW: Enterprise AI Demand Will Drive Long-Term Earnings Power And Upside Potential

Analysts have nudged our Snowflake fair value estimate higher to approximately $282 from about $273 per share, citing a wave of Street price target hikes toward the $295 to $325 range and increased confidence that robust, AI driven demand can support stronger long term earnings power, despite only modest tweaks to growth and margin assumptions. Analyst Commentary Bullish analysts are broadly lifting targets into the $295 to $325 range, characterizing Snowflake as a key beneficiary of accelerating enterprise AI adoption and improving demand visibility into 2025 and beyond.
OKTA
US$90.18
Okta
7D
3.3%
1Y
6.4%

OKTA: Future Identity Data Compliance And AI Security Will Drive Performance

Analysts have modestly reduced their price target on Okta, trimming fair value estimates by about $7 to reflect slightly slower projected revenue growth and a lower future earnings multiple, even as profit margin expectations edge higher. Analyst Commentary Bullish Takeaways Bullish analysts note that management's guidance still implies solid mid-teens top-line expansion over the medium term, which supports a premium to slower-growing security peers despite the lower price target.
CRWV
US$78.59
CoreWeave
7D
-8.9%
1Y
n/a
APLD
US$27.86
Applied Digital
7D
-13.2%
1Y
178.3%

APLD: Long-Term Hyperscale Power Control Will Drive Future Sector Leadership

Analysts have lifted their price targets on Applied Digital, in many cases doubling them to the mid to high $30s and low $40s per share, citing stronger than expected Q1 results, long term hyperscale contracts, a deep multi gigawatt development pipeline, and increasing confidence that the company can scale and monetize its AI focused data center footprint. Analyst Commentary Street research following the quarter has turned markedly more constructive on Applied Digital, with a wave of target price increases reflecting rising confidence in the company’s ability to convert its development pipeline and power portfolio into durable, high margin AI data center revenues.
NET
US$202.44
Cloudflare
7D
-1.7%
1Y
76.6%
SHOP
US$164.19
Shopify
7D
3.6%
1Y
41.6%
ACN
US$271.56
Accenture
7D
1.9%
1Y
-23.9%
TWLO
US$132.92
Twilio
7D
2.1%
1Y
19.1%

TWLO: Future Performance Will Reflect Rising Confidence in Voice AI Momentum

Analysts have raised their price target for Twilio by $5 to $145, citing improving company performance, positive AI infrastructure tailwinds, and growing confidence in Twilio's ability to sustain profitable growth. Analyst Commentary Recent research updates reflect predominantly constructive sentiment toward Twilio, emphasizing improvements in performance, valuation, and prospects for growth.
EPAM
US$209.63
EPAM Systems
7D
2.9%
1Y
-13.9%

EPAM: AI Transition Will Drive Upside Amid Sector Challenges

EPAM Systems Price Target Sees Slight Increase Amid Mixed Analyst Outlook Analysts have modestly raised their price target for EPAM Systems from $207.29 to $207.88. They cite sector-wide structural challenges, but also recognize potential for near-term performance improvements.
DOX
US$79.35
Amdocs
7D
3.0%
1Y
-9.1%