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U.S. Semiconductors Industry Analysis

UpdatedMay 24, 2026
DataAggregated Company Financials
Companies130
  • 7D0.9%
  • 3M34.2%
  • 1Y110.1%
  • YTD38.9%

Over the last 7 days, the Semiconductors industry has remained flat, although notably Arm Holdings gained 47%. The past year has been better, since the industry has gained 110% in that time. As for the next few years, earnings are expected to grow by 26% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 25 May 2026US$7.4tUS$747.2bUS$261.7b65x28.1x9.9x
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
Price to Earnings Ratio

40.6x


Total Market Cap: US$2.9tTotal Earnings: US$71.0bTotal Revenue: US$433.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 54.3x202420252026
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 28.1x which is lower than its 3-year average PE of 54.3x.
  • The 3-year average PS ratio of 11.1x is higher than the industry's current PS ratio of 9.9x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 54% per year over the last three years.
  • Revenues for these companies have grown 20% 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 Market1.06%
Tech1.62%
Semiconductors0.91%
Semiconductor Equipment3.32%
Semiconductors0.66%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry which is trading above its 3-year average PE ratio of 32.0x.
    • Analysts are expecting annual earnings growth of 21.6%, which is lower than the prior year's growth of 24.5% per year.
  • Investors are most pessimistic about the Semiconductors industry, which is trading below its 3-year average of 59.1x.
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 12% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 22% 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
ARM Arm HoldingsUS$306.5146.5%
+US$103.6b		141.0%PE360.8x
MU Micron TechnologyUS$751.0010.2%
+US$78.3b		704.3%PE35.1x
AMD Advanced Micro DevicesUS$467.5110.2%
+US$70.8b		323.8%PE154.6x
INTC IntelUS$119.8410.8%
+US$58.7b		497.7%PS11.2x
QCOM QUALCOMMUS$238.1617.0%
+US$36.4b		63.8%PE25.3x

Latest News

AMD
US$467.51
Advanced Micro Devices
7D
10.2%
1Y
323.8%
Seeking Alpha • 15h

Advanced Micro Devices: 3 Things Favor This Nvidia Competitor, Reiterate Strong Buy

Summary Advanced Micro Devices is positioned as a rising competitor to Nvidia, especially as AI workloads shift toward inference and agent-driven tasks. My Strong Buy thesis for AMD rests on CPU parity with NVDA's Vera, accelerating ROCm adoption, and Helios rack-scale solutions challenging NVDA’s dominance. ROCm’s rapid enterprise and hyperscaler uptake, highlighted by Meta’s 6GW GPU commitment, signals growing confidence in AMD’s open, full-stack AI ecosystem. While NVDA’s topline growth outpaces AMD, the narrowing performance and ecosystem gap suggests AMD’s long-term market share gains are increasingly likely. Read the full article on Seeking Alpha
NVDA
US$215.33
NVIDIA
7D
-4.4%
1Y
64.0%
INTC
US$119.84
Intel
7D
10.2%
1Y
497.7%
New Narrative • May 23

Is Intel Still Investable At $60?

INTC Primer: No Equity Dilution Necessary (Part 1) When I first wrote about INTC (link above), the stock was trading at around $20. At the time, Intel could do no right — Pat Gelsinger was fired, Foundry was eating up precious cash flow, the dividend was cut — it was a perfect storm of unfortunate events.
ADI
US$397.07
Analog Devices
7D
-4.9%
1Y
88.7%
AMKR
US$65.75
Amkor Technology
7D
-6.5%
1Y
259.9%
ALAB
US$306.88
Astera Labs
7D
31.9%
1Y
224.3%
LRCX
US$305.35
Lam Research
7D
7.2%
1Y
276.7%
CBRS
US$256.78
Cerebras Systems
7D
-8.2%
1Y
n/a
MRVL
US$196.33
Marvell Technology
7D
11.0%
1Y
223.5%
SITM
US$728.56
SiTime
7D
-5.9%
1Y
268.7%
QCOM
US$238.16
QUALCOMM
7D
18.2%
1Y
63.8%
Narrative Update • May 21

QCOM: AI Data Center Opportunity Will Drive Future Re Rating

Analysts have raised the fair value estimate for Qualcomm to $257.08 from $195.77, citing higher Street price targets around $200 to $220 and a growing focus on the stock's exposure to AI and data center opportunities, even as some remain cautious about handset and Apple-related headwinds. Analyst Commentary Recent Street research on Qualcomm shows a split tape, with some firms turning more cautious on handset exposure while others highlight AI and data center potential as key parts of the story.
AMAT
US$432.16
Applied Materials
7D
-1.0%
1Y
174.4%
ONTO
US$262.25
Onto Innovation
7D
-3.5%
1Y
185.0%
AVGO
US$414.14
Broadcom
7D
-2.6%
1Y
81.1%
Seeking Alpha • May 20

Broadcom: You Didn't Miss The Boat

Summary Broadcom (AVGO) remains a Strong Buy as AI-driven capex cycles fuel a multi-year growth inflection, supported by robust partnerships with hyperscale cloud clients. AVGO's AI chip revenue is projected to exceed $100 billion by 2027, driving expected sales from $64 billion in 2025 to over $200 billion within 30 months. Despite a trailing gross profit multiple above 40x, forward growth justifies the premium; even conservative models suggest ~20% annualized returns through 2030. Customer concentration and rising competition from Marvell pose risks, but AVGO's high-margin IP portfolio and design leadership anchor its bullish outlook. Read the full article on Seeking Alpha
ARM
US$306.51
Arm Holdings
7D
46.5%
1Y
141.0%
MU
US$751.00
Micron Technology
7D
3.6%
1Y
704.3%