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U.S. Semiconductors Industry Analysis

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies126
  • 7D0.2%
  • 3M6.0%
  • 1Y46.0%
  • YTD1.6%

Last week, the Semiconductors industry hasn't moved much but Broadcom is up 3.2% in that time. The past year has been better, since the industry has gained 46% in that time. As for the next few years, earnings are expected to grow by 25% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 14 Jan 2026US$9.1tUS$640.8bUS$176.4b41.7x51.7x14.2x
Fri, 12 Dec 2025US$9.1tUS$631.8bUS$168.7b38x53.9x14.4x
Sun, 09 Nov 2025US$8.8tUS$610.5bUS$153.5b35.4x57.3x14.4x
Tue, 07 Oct 2025US$8.5tUS$597.4bUS$137.3b37.8x61.7x14.2x
Thu, 04 Sep 2025US$7.5tUS$590.8bUS$129.0b30.1x58.4x12.8x
Sat, 02 Aug 2025US$7.7tUS$568.7bUS$117.5b28.6x65.2x13.5x
Mon, 30 Jun 2025US$7.1tUS$566.4bUS$118.3b28.5x60.1x12.6x
Wed, 28 May 2025US$6.0tUS$542.4bUS$109.5b25.9x54.4x11x
Fri, 25 Apr 2025US$4.8tUS$538.8bUS$109.3b24.3x43.9x8.9x
Sun, 23 Mar 2025US$5.5tUS$539.4bUS$108.9b29.3x50.1x10.1x
Tue, 18 Feb 2025US$6.4tUS$515.6bUS$94.1b32.2x67.7x12.3x
Thu, 16 Jan 2025US$6.1tUS$513.5bUS$96.7b31.7x63.3x11.9x
Sat, 14 Dec 2024US$6.1tUS$509.6bUS$93.6b31.9x65x11.9x
Mon, 11 Nov 2024US$6.5tUS$488.3bUS$84.1b32.8x77.1x13.3x
Wed, 09 Oct 2024US$6.1tUS$489.2bUS$101.8b28.2x60.1x12.5x
Fri, 06 Sep 2024US$5.2tUS$481.2bUS$104.2b26.8x49.9x10.8x
Sun, 04 Aug 2024US$5.1tUS$468.1bUS$92.9b26x55.1x10.9x
Tue, 02 Jul 2024US$6.0tUS$467.9bUS$96.6b30.1x62.3x12.8x
Thu, 30 May 2024US$5.7tUS$462.6bUS$95.6b29.6x59.4x12.3x
Sat, 27 Apr 2024US$4.8tUS$446.9bUS$83.2b28.1x57.3x10.7x
Mon, 25 Mar 2024US$5.0tUS$448.2bUS$81.2b28.8x62.1x11.3x
Wed, 21 Feb 2024US$4.2tUS$428.8bUS$71.0b29.6x59.8x9.9x
Fri, 19 Jan 2024US$3.8tUS$433.1bUS$69.5b25.7x54.6x8.8x
Sun, 17 Dec 2023US$3.6tUS$432.7bUS$70.6b25.7x50.6x8.3x
Tue, 14 Nov 2023US$3.1tUS$420.7bUS$61.9b24.1x50.8x7.5x
Thu, 12 Oct 2023US$3.1tUS$428.2bUS$65.8b24.9x46.9x7.2x
Sat, 09 Sep 2023US$3.0tUS$428.0bUS$68.7b25.4x44.2x7.1x
Mon, 07 Aug 2023US$3.1tUS$420.5bUS$63.6b23.9x48.3x7.3x
Wed, 05 Jul 2023US$3.0tUS$429.1bUS$67.3b23.5x44.9x7x
Fri, 02 Jun 2023US$2.9tUS$433.6bUS$71.0b22.7x40.3x6.6x
Sun, 30 Apr 2023US$2.3tUS$437.3bUS$73.8b18.6x31.6x5.3x
Tue, 28 Mar 2023US$2.4tUS$447.9bUS$90.3b17.8x26.1x5.3x
Thu, 23 Feb 2023US$2.1tUS$444.6bUS$90.2b17.4x23.5x4.8x
Sat, 21 Jan 2023US$2.0tUS$447.6bUS$96.4b17.7x21.1x4.5x
Price to Earnings Ratio

21.1x


Total Market Cap: US$2.0tTotal Earnings: US$96.4bTotal Revenue: US$447.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 52.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Semiconductor 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 52.2x.
  • The 3-year average PS ratio of 10.1x is lower than the industry's current PS ratio of 14.2x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 13% 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 Market0.24%
Tech-0.37%
Semiconductors0.18%
Semiconductor Equipment3.21%
Semiconductors-0.13%
Industry PE
  • Investors are most optimistic about the Semiconductors industry, which is trading close to its 3-year average PE ratio of 57.5x.
    • Analysts are expecting annual earnings growth of 26.6%, which is higher than its past year's earnings growth of 8.7% per year.
  • Investors are most pessimistic about the Semiconductor Equipment industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 28.2x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings growth rate of 8.7% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 13% 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
AVGO BroadcomUS$354.613.2%
+US$51.4b		57.8%PE72.7x
INTC IntelUS$47.2918.1%
+US$36.1b		146.3%PE1190.6x
AMD Advanced Micro DevicesUS$220.975.2%
+US$17.8b		84.2%PE114.9x
LRCX Lam ResearchUS$214.383.6%
+US$9.3b		185.6%PE46.3x
AMAT Applied MaterialsUS$304.873.0%
+US$7.0b		75.6%PE34.5x

Latest News

LRCX
US$214.38
Lam Research
7D
3.6%
1Y
185.6%
NVDA
US$185.81
NVIDIA
7D
-1.7%
1Y
36.4%
ALAB
US$180.56
Astera Labs
7D
12.1%
1Y
40.6%
FSLR
US$241.36
First Solar
7D
-10.2%
1Y
30.2%

FSLR: U.S. Manufacturing Buildout And Section 232 Policies Will Shape Upside

Analysts have nudged their fair value estimate for First Solar higher from about US$271.61 to roughly US$281.65. This reflects updated views on policy driven demand, tariff risks and the company's position as a U.S. focused utility scale supplier within clean energy.
MRVL
US$83.05
Marvell Technology
7D
-5.9%
1Y
-27.9%

MRVL: AI Infrastructure Exposure Will Face Policy And ASIC Execution Crosswinds

Narrative Update: Marvell Technology Analysts have lifted their average fair value estimate for Marvell Technology from about $82.64 to $90.00. This change is supported by research citing the company's role in AI infrastructure, including custom ASIC and connectivity offerings.
ARM
US$107.84
Arm Holdings
7D
-6.8%
1Y
-26.8%

ARM: AI Licensing Royalties And Physical AI Expansion Will Drive Durable Upside

The updated analyst price target for Arm Holdings edges down by about $1.60, reflecting analysts' attempts to balance higher assumed revenue growth and margins with mixed views on the company's transition efforts and the market's willingness to support a premium P/E multiple. Analyst Commentary Recent Street research on Arm paints a mixed picture, with bullish analysts focused on earnings strength and AI exposure, and more cautious voices highlighting execution and valuation risk around the business model transition.
AVGO
US$354.61
Broadcom
7D
3.2%
1Y
57.8%
QCOM
US$165.29
QUALCOMM
7D
-9.4%
1Y
3.6%

QCOM: Premium Android Execution And AI Infrastructure Optionality Will Shape Balanced Outcomes

Analysts have nudged their fair value estimate for Qualcomm slightly higher to about $193, citing refreshed models that reflect recent price target increases following broad-based QCT strength, expanding premium-tier Android exposure, and growing attention on the company’s AI accelerator and data center opportunities. Analyst Commentary Recent Street research around Qualcomm highlights a mix of enthusiasm around execution in premium Android and AI, alongside caution on broader semiconductor sentiment and AI expectations.
KLAC
US$1,441.82
KLA
7D
3.4%
1Y
105.6%
INTC
US$47.29
Intel
7D
18.1%
1Y
146.3%
AMD
US$220.97
Advanced Micro Devices
7D
5.2%
1Y
84.2%

AMD: AI And Rack Scale Execution Will Define The Next Chapter

Analysts have raised their AMD fair value estimate from about $137 to roughly $208. This change reflects higher assumptions for revenue growth and profit margins in AI accelerators and rack scale systems, partly offset by a slightly higher discount rate and more conservative future P/E expectations.
NXPI
US$239.09
NXP Semiconductors
7D
-2.8%
1Y
13.5%

NXPI: Future Auto And Battery Technologies Will Drive Undervalued Upside

Analysts have raised their fair value estimate for NXP Semiconductors from US$294.09 to US$307.80, citing updated assumptions related to revenue growth, profit margins and future P/E expectations. What's in the News NXP unveiled its S32N7 super integration processor series on a 5 nm foundation to centralize core vehicle functions such as propulsion, vehicle dynamics, body, gateway and safety, with Bosch as the first deployment partner using the chip in its vehicle integration platform (Product-Related Announcement).
CRDO
US$161.38
Credo Technology Group Holding
7D
21.4%
1Y
132.6%

CRDO: Sector Q3 Strength And AI Connectivity Portfolio Will Support Upside

Analysts have raised their fair value estimate for Credo Technology Group Holding to $250.00 from $165.00, citing updated assumptions for revenue growth, profit margins and future P/E, as well as recent Street research that anticipates generally in line to modestly better results for the broader semiconductor group. Analyst Commentary Recent Street research has added context to the higher fair value estimate, with bullish analysts pointing to supportive earnings expectations for the broader semiconductor group and updated assumptions for Credo Technology Group Holding.
TXN
US$188.53
Texas Instruments
7D
-1.9%
1Y
-2.6%

TXN: Margin Reset And Cyclical Softness Will Set Up Future Rebound

Narrative Update Analysts have reduced the implied fair value for Texas Instruments to $245 from $260. This reflects updated views on higher required returns, more moderate revenue growth, softer profit margins, and a higher future P/E multiple following recent price target cuts and more cautious commentary on margins, utilization, and end demand.
MU
US$338.13
Micron Technology
7D
-0.4%
1Y
227.7%

MU: AI Memory Supercycle Hype Will Likely Drive Future Multiple Compression

Micron Technology's fair value estimate has been raised from approximately $105.48 to $171.83. Analysts attribute this change to tightening DRAM supply, accelerating high bandwidth memory ramps for AI workloads, and improving margin and earnings visibility despite recent sector volatility.
AMAT
US$304.87
Applied Materials
7D
3.0%
1Y
75.6%

AMAT: Future Multiple Compression Will Likely Pressure Elevated Share Price

Our fair value estimate for Applied Materials has been raised to $180 from $160.41 as analysts lift price targets into the mid to high $200s, citing above-consensus execution, resilient foundry and memory demand, de-risked China exposure, and strengthening recurring services growth. Analyst Commentary Street research has turned more constructive on Applied Materials, with multiple firms lifting price targets into the $250 to $270 range following solid quarterly execution, above-consensus guidance, and stronger visibility into 2026 wafer fab equipment demand.