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U.S. Semiconductors Industry Analysis

UpdatedJan 18, 2026
DataAggregated Company Financials
Companies126
  • 7D2.0%
  • 3M6.5%
  • 1Y43.5%
  • YTD2.7%

Over the last 7 days, the Semiconductors industry has risen 2.0%, driven by gains from Advanced Micro Devices of 14%. In the same time, QUALCOMM was down 10%. In the last 12 months, the industry was up 44%. 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
Sun, 18 Jan 2026US$9.2tUS$640.8bUS$176.4b43.4x52.4x14.4x
Tue, 16 Dec 2025US$8.6tUS$635.8bUS$173.0b37.3x49.4x13.5x
Thu, 13 Nov 2025US$8.9tUS$610.5bUS$153.2b35.9x58.3x14.6x
Sat, 11 Oct 2025US$8.5tUS$597.4bUS$137.3b35.3x61.8x14.2x
Mon, 08 Sep 2025US$7.6tUS$593.8bUS$134.6b32x56.6x12.8x
Wed, 06 Aug 2025US$7.8tUS$570.0bUS$118.1b28.6x65.7x13.6x
Fri, 04 Jul 2025US$7.2tUS$566.4bUS$118.3b29.8x60.8x12.7x
Sun, 01 Jun 2025US$6.1tUS$561.2bUS$113.9b24.7x53.6x10.9x
Tue, 29 Apr 2025US$5.1tUS$538.7bUS$108.9b25.5x46.9x9.5x
Thu, 27 Mar 2025US$5.3tUS$537.5bUS$108.8b26.7x49.2x10x
Sat, 22 Feb 2025US$6.2tUS$515.3bUS$93.8b32.5x66.1x12x
Mon, 20 Jan 2025US$6.4tUS$513.5bUS$96.7b33.1x66.5x12.5x
Wed, 18 Dec 2024US$6.3tUS$509.5bUS$93.6b31.9x67.3x12.4x
Fri, 15 Nov 2024US$6.3tUS$488.2bUS$83.8b31.9x74.9x12.9x
Sun, 13 Oct 2024US$6.2tUS$489.2bUS$101.8b28.1x61x12.7x
Tue, 10 Sep 2024US$5.1tUS$485.4bUS$99.5b25.7x51.3x10.5x
Thu, 08 Aug 2024US$4.9tUS$468.0bUS$92.9b25.1x52.6x10.4x
Sat, 06 Jul 2024US$6.2tUS$467.9bUS$96.6b30.8x64.1x13.2x
Mon, 03 Jun 2024US$5.5tUS$462.6bUS$95.6b29.5x57.1x11.8x
Wed, 01 May 2024US$4.7tUS$446.3bUS$82.9b28.1x56.6x10.5x
Fri, 29 Mar 2024US$4.9tUS$448.2bUS$81.2b29.2x60.9x11x
Sun, 25 Feb 2024US$4.5tUS$443.4bUS$81.1b30.9x56x10.2x
Tue, 23 Jan 2024US$4.0tUS$433.1bUS$69.5b27.4x57.2x9.2x
Thu, 21 Dec 2023US$3.6tUS$432.7bUS$70.6b24.9x51x8.3x
Sat, 18 Nov 2023US$3.3tUS$420.6bUS$62.1b24.6x52.5x7.7x
Mon, 16 Oct 2023US$3.0tUS$427.9bUS$65.8b25x45.8x7x
Wed, 13 Sep 2023US$3.0tUS$428.1bUS$68.7b25x43.8x7x
Fri, 11 Aug 2023US$3.0tUS$419.8bUS$62.9b25.4x47.1x7.1x
Sun, 09 Jul 2023US$3.0tUS$429.1bUS$67.3b22.7x43.9x6.9x
Tue, 06 Jun 2023US$2.9tUS$434.2bUS$71.9b22.9x39.7x6.6x
Thu, 04 May 2023US$2.3tUS$436.7bUS$72.7b18.5x31.6x5.3x
Sat, 01 Apr 2023US$2.5tUS$443.8bUS$85.6b18.9x28.8x5.6x
Mon, 27 Feb 2023US$2.2tUS$442.9bUS$88.7b17.5x24.7x4.9x
Wed, 25 Jan 2023US$2.1tUS$447.6bUS$96.4b18.1x22x4.7x
Price to Earnings Ratio

22x


Total Market Cap: US$2.1tTotal Earnings: US$96.4bTotal Revenue: US$447.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 52.3x202420252026
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 52.3x.
  • The 3-year average PS ratio of 10.2x is lower than the industry's current PS ratio of 14.4x.
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 Market-0.29%
Tech-0.67%
Semiconductors2.03%
Semiconductor Equipment6.96%
Semiconductors1.52%
Industry PE
  • Investors are most optimistic about the Semiconductors industry, which is trading close to its 3-year average PE ratio of 57.6x.
    • Analysts are expecting annual earnings growth of 26.6%, which is higher than its past year's earnings growth of 6.9% 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 28.3x.
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 6.9% 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
AMD Advanced Micro DevicesUS$231.8314.1%
+US$46.7b		90.9%PE120.5x
NVDA NVIDIAUS$186.230.7%
+US$33.3b		35.2%PE45.6x
AVGO BroadcomUS$351.712.0%
+US$32.0b		48.1%PE72.1x
KLAC KLAUS$1.57k12.0%
+US$22.1b		107.0%PE48.6x
AMAT Applied MaterialsUS$327.018.6%
+US$20.5b		70.3%PE37.1x

Latest News

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Impinj
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Amkor Technology
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Intel
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3.1%
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QCOM
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QUALCOMM
7D
-10.3%
1Y
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KLAC
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KLA
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12.0%
1Y
107.0%

Subdued Growth No Barrier To KLA Corporation (NASDAQ:KLAC) With Shares Advancing 32%

Jan 16
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AMAT
US$327.01
Applied Materials
7D
8.6%
1Y
70.3%
LRCX
US$222.96
Lam Research
7D
2.1%
1Y
177.7%
NVDA
US$186.23
NVIDIA
7D
0.7%
1Y
35.2%
ON
US$60.33
ON Semiconductor
7D
-2.9%
1Y
10.4%

ON: Future GaN Partnership Will Support A More Optimistic Outlook

The analyst price target for ON Semiconductor has moved from US$70.00 to about US$76.53. Analysts point to updated assumptions for revenue growth, profit margins, discount rates and future P/E to support the new view.
OLED
US$116.31
Universal Display
7D
-7.5%
1Y
-22.1%

OLED: Long Term Tianma Partnership Will Support Future Return Potential

Analysts have trimmed their price target on Universal Display to around $166 from about $169. This reflects updated views that slightly higher discount rates and modestly lower profit margin assumptions are only partly offset by marginally stronger revenue growth expectations and a somewhat higher future P/E multiple.
MRVL
US$80.46
Marvell Technology
7D
-3.3%
1Y
-35.5%

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$105.78
Arm Holdings
7D
-5.4%
1Y
-29.1%

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$351.71
Broadcom
7D
2.0%
1Y
48.1%
AMD
US$231.83
Advanced Micro Devices
7D
14.1%
1Y
90.9%

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$237.11
NXP Semiconductors
7D
-1.7%
1Y
10.1%

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).
MU
US$362.75
Micron Technology
7D
5.1%
1Y
243.0%

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.