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U.S. Semiconductors Industry Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies129
  • 7D2.5%
  • 3M15.2%
  • 1Y125.9%
  • YTD17.2%

The Semiconductors industry is up 6.1% in the last week, with Broadcom up 5.6%. This takes the industry's 12 month performance to a gain of 134%. Looking forward, earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Apr 2026US$10.6tUS$697.4bUS$215.4b48x49.2x15.2x
Fri, 20 Mar 2026US$9.0tUS$697.6bUS$215.5b39.8x41.7x12.9x
Sun, 15 Feb 2026US$9.2tUS$646.8bUS$179.6b43.4x51x14.2x
Tue, 13 Jan 2026US$9.1tUS$640.8bUS$176.4b41.4x51.5x14.2x
Thu, 11 Dec 2025US$9.1tUS$631.8bUS$168.7b38.1x54x14.4x
Sat, 08 Nov 2025US$8.8tUS$610.5bUS$153.5b35.4x57.6x14.5x
Mon, 06 Oct 2025US$8.5tUS$597.4bUS$137.3b37x62.1x14.3x
Wed, 03 Sep 2025US$7.6tUS$590.8bUS$129.0b29.7x58.6x12.8x
Fri, 01 Aug 2025US$7.8tUS$567.9bUS$117.1b30.7x66.9x13.8x
Sun, 29 Jun 2025US$7.1tUS$566.4bUS$118.3b28.5x60.1x12.6x
Tue, 27 May 2025US$5.9tUS$542.4bUS$109.5b25x54.3x11x
Thu, 24 Apr 2025US$4.8tUS$537.5bUS$108.9b24.1x43.9x8.9x
Sat, 22 Mar 2025US$5.5tUS$539.4bUS$108.9b29.3x50.4x10.2x
Mon, 17 Feb 2025US$6.4tUS$515.6bUS$94.1b32.2x67.7x12.3x
Wed, 15 Jan 2025US$6.1tUS$513.5bUS$96.7b31.1x63.3x11.9x
Fri, 13 Dec 2024US$6.2tUS$504.8bUS$92.9b31.8x66.2x12.2x
Sun, 10 Nov 2024US$6.5tUS$488.3bUS$84.1b32.8x77.1x13.3x
Tue, 08 Oct 2024US$6.0tUS$489.3bUS$101.8b29.5x58.7x12.2x
Thu, 05 Sep 2024US$5.2tUS$481.2bUS$104.2b27.1x50.1x10.9x
Sat, 03 Aug 2024US$5.3tUS$468.0bUS$92.9b26x56.9x11.3x
Mon, 01 Jul 2024US$6.0tUS$467.9bUS$96.6b30.1x62.3x12.8x
Wed, 29 May 2024US$5.5tUS$462.6bUS$95.6b30.1x57.1x11.8x
Fri, 26 Apr 2024US$4.6tUS$445.9bUS$80.9b28x56.6x10.3x
Sun, 24 Mar 2024US$5.0tUS$448.2bUS$81.2b28.8x62.1x11.3x
Tue, 20 Feb 2024US$4.4tUS$428.8bUS$71.0b29x61.5x10.2x
Thu, 18 Jan 2024US$3.7tUS$433.1bUS$69.5b25x53.2x8.5x
Sat, 16 Dec 2023US$3.6tUS$432.7bUS$70.6b25.7x50.6x8.3x
Mon, 13 Nov 2023US$3.2tUS$420.7bUS$61.9b23.9x51x7.5x
Wed, 11 Oct 2023US$3.0tUS$428.2bUS$65.8b25.1x46.4x7.1x
Fri, 08 Sep 2023US$3.0tUS$428.1bUS$68.7b25.5x44.2x7.1x
Sun, 06 Aug 2023US$3.1tUS$420.5bUS$63.6b23.9x48.4x7.3x
Tue, 04 Jul 2023US$3.0tUS$429.1bUS$67.3b23.5x44.9x7x
Thu, 01 Jun 2023US$2.9tUS$433.6bUS$71.0b22.3x40.6x6.7x
Sat, 29 Apr 2023US$2.3tUS$437.3bUS$73.8b18.5x31.6x5.3x
Price to Earnings Ratio

31.6x


Total Market Cap: US$2.3tTotal Earnings: US$73.8bTotal Revenue: US$437.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 54.2x202420252026
Current Industry PE
  • Investors are pessimistic on the American Semiconductor 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 49.2x which is lower than its 3-year average PE of 54.2x.
  • The 3-year average PS ratio of 10.9x is lower than the industry's current PS ratio of 15.2x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 43% per year over the last three years.
  • Revenues for these companies have grown 17% 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 Market1.31%
Tech4.29%
Semiconductors2.47%
Semiconductors2.78%
Semiconductor Equipment-0.12%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry which is trading above its 3-year average PE ratio of 31.0x.
    • Analysts are expecting annual earnings growth of 19.0%, which is higher than its past year's earnings decline of 3.2% per year.
  • Investors are most pessimistic about the Semiconductors industry, which is trading below its 3-year average of 59.2x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings growth rate of 7.6% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 19% 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
NVDA NVIDIAUS$199.881.7%
+US$81.9b		102.1%PE40.4x
AMD Advanced Micro DevicesUS$284.4911.5%
+US$48.0b		229.8%PE108.6x
AVGO BroadcomUS$402.171.4%
+US$25.8b		127.3%PE76.3x
MRVL Marvell TechnologyUS$151.3113.1%
+US$15.3b		198.9%PE49.6x
ARM Arm HoldingsUS$175.498.9%
+US$15.2b		74.5%PE232.7x

Latest News

TXN
US$233.15
Texas Instruments
7D
6.5%
1Y
58.9%

Texas Instruments: Recovery Or Not, I Still See A Hold

Apr 21
NVDA
US$199.88
NVIDIA
7D
1.7%
1Y
102.1%

Huang Isn't Planning To Wake Up A Loser

Apr 21
MRVL
US$151.31
Marvell Technology
7D
13.1%
1Y
198.9%

MRVL: AI Hype Around Data Center Programs Will Eventually Disappoint

Analysts have lifted the price target on Marvell Technology by about $3 to reflect updated views on higher revenue growth potential, a richer future P/E assumption around 37x, and recent research highlighting AI data center demand, broader hyperscale programs, and partnerships with Nvidia and Mojo Vision as key supports for the long-term story. Analyst Commentary Recent research coverage on Marvell Technology reflects an active debate around how much optimism is already reflected in the shares, even as many firms highlight AI data center exposure, custom compute programs, and optical networking as important parts of the story.
JKS
US$20.47
JinkoSolar Holding
7D
-15.2%
1Y
21.7%
AVGO
US$402.21
Broadcom
7D
5.6%
1Y
137.2%

Broadcom: Things Might Look Rosy, But I'm Not Buying The Growth Story

Apr 20
ADI
US$375.27
Analog Devices
7D
7.7%
1Y
110.2%

ADI: Data Center And AI Demand Will Drive Multi Year Repricing

The analyst fair value estimate for Analog Devices has been updated to $450 from $430. Analysts broadly attribute higher price targets to recent earnings beats, raised guidance, and sector-specific tailwinds in data center, AI, industrial, and communications demand.
MU
US$449.38
Micron Technology
7D
-3.5%
1Y
540.1%

Micron: Dead Cats Don't Bounce Twice

Apr 20
ARM
US$175.49
Arm Holdings
7D
8.9%
1Y
74.5%

ARM: AI Data Center Workloads Will Drive Next Leg Of Upside

Analysts have lifted the implied fair value estimate for Arm to $237.73 from $205.00, reflecting a reset in Street price targets that leans on higher long term revenue growth assumptions, a richer future P/E of 93.78, and a mix of recent target hikes and upgrades across firms such as Susquehanna, Goldman Sachs, Mizuho, Wells Fargo, Barclays, Evercore ISI, RBC Capital, Deutsche Bank, Raymond James, HSBC, BofA and New Street, alongside at least one downgrade from Morgan Stanley and several target trims earlier in the period. Analyst Commentary Recent research on Arm shows a clear split between bullish analysts raising targets and ratings and a smaller group trimming expectations or turning more cautious.
AMD
US$284.49
Advanced Micro Devices
7D
11.5%
1Y
229.8%

AMD: $600 Bullseye

Apr 20
INTC
US$66.26
Intel
7D
3.8%
1Y
239.6%

Intel Has Gone Too Far Too Fast (Rating Downgrade)

Apr 19
AMAT
US$394.33
Applied Materials
7D
-0.3%
1Y
185.1%

The Margin Machine: Why Applied Materials Is Outgrowing Its Peers

Apr 18
FSLR
US$186.61
First Solar
7D
-7.0%
1Y
37.9%
DQ
US$20.17
Daqo New Energy
7D
-4.9%
1Y
46.1%
LRCX
US$258.37
Lam Research
7D
-5.2%
1Y
307.0%

LRCX: AI Memory Spending And WFE Demand Will Shape Balanced Outlook

The analyst price target for Lam Research is raised by $6 to reflect updated assumptions around revenue growth, profitability mix, and a slightly lower discount rate. Analysts point to a series of recent target increases and rating changes across the Street as support for the revised view.
SEDG
US$40.57
SolarEdge Technologies
7D
-5.6%
1Y
210.9%

SolarEdge Technologies: Up 200% In 12 Months And Room For More Ahead

Apr 14
KLAC
US$1,788.13
KLA
7D
-0.4%
1Y
181.0%

KLAC: Investor Day Framework And Share Gains Will Drive Re Rating

The analyst price target for KLA has been updated from $1,950 to $2,000 as analysts factor in more upbeat Investor Day commentary, refreshed long-term revenue and earnings targets, and a set of broadly higher Street price targets following recent research updates. Analyst Commentary Bullish analysts have been leaning into KLA's updated long term framework, using Investor Day as a key reference point for revisiting their models on growth, margins, and cash generation.