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U.S. Semiconductors Industry Analysis

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies123
  • 7D-2.7%
  • 3M20.0%
  • 1Y46.6%
  • YTD26.8%

Over the last 7 days, the Semiconductors industry has dropped 2.7%, driven by NVIDIA declining 3.9%. Meanwhile, Lam Research actually outperformed within the industry, gaining 14% in the last week. In the past year, the industry has gained 47%. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Sep 2025US$8.1tUS$593.8bUS$134.6b32.7x60.1x13.6x
Sat, 16 Aug 2025US$8.0tUS$572.7bUS$118.5b28.2x67.4x13.9x
Mon, 14 Jul 2025US$7.3tUS$566.4bUS$118.3b31.6x62.1x13x
Wed, 11 Jun 2025US$6.5tUS$563.8bUS$116.8b27.6x55.5x11.5x
Fri, 09 May 2025US$5.4tUS$541.3bUS$109.4b23x49.3x10x
Sun, 06 Apr 2025US$4.3tUS$537.4bUS$108.9b20.5x39.7x8x
Tue, 04 Mar 2025US$5.5tUS$532.8bUS$103.5b28.7x52.9x10.3x
Thu, 30 Jan 2025US$5.9tUS$513.4bUS$96.7b31.5x61.4x11.6x
Sat, 28 Dec 2024US$6.3tUS$513.5bUS$96.7b29.5x65.7x12.4x
Mon, 25 Nov 2024US$6.1tUS$505.3bUS$93.4b29.7x65.4x12.1x
Wed, 23 Oct 2024US$6.3tUS$489.1bUS$101.7b27.6x62.3x12.9x
Fri, 20 Sep 2024US$5.4tUS$485.5bUS$99.5b27.3x54.8x11.2x
Sun, 18 Aug 2024US$5.8tUS$467.6bUS$94.9b29.7x61.5x12.5x
Tue, 16 Jul 2024US$6.3tUS$467.9bUS$96.6b30.8x65.2x13.5x
Thu, 13 Jun 2024US$5.9tUS$461.2bUS$95.7b30.6x61.3x12.7x
Sat, 11 May 2024US$4.8tUS$444.8bUS$83.3b29x57.5x10.8x
Mon, 08 Apr 2024US$4.8tUS$447.7bUS$81.6b29.8x59.4x10.8x
Wed, 06 Mar 2024US$4.9tUS$443.3bUS$81.1b29.1x60.4x11x
Fri, 02 Feb 2024US$4.0tUS$432.9bUS$72.2b29.1x54.9x9.2x
Sun, 31 Dec 2023US$3.6tUS$433.4bUS$69.5b27.7x52.2x8.4x
Tue, 28 Nov 2023US$3.2tUS$432.4bUS$70.6b25x46x7.5x
Thu, 26 Oct 2023US$2.8tUS$425.6bUS$64.7b22.4x43.1x6.6x
Sat, 23 Sep 2023US$2.9tUS$430.8bUS$68.7b24.8x41.8x6.7x
Mon, 21 Aug 2023US$2.9tUS$421.1bUS$62.9b25.1x46.2x6.9x
Wed, 19 Jul 2023US$3.2tUS$429.2bUS$67.3b24.5x47.6x7.5x
Fri, 16 Jun 2023US$3.1tUS$434.3bUS$71.9b23.9x42.5x7x
Sun, 14 May 2023US$2.3tUS$434.1bUS$70.4b19.2x33.2x5.4x
Tue, 11 Apr 2023US$2.4tUS$443.7bUS$85.6b18.3x28.1x5.4x
Thu, 09 Mar 2023US$2.3tUS$445.2bUS$90.1b18.6x25.5x5.2x
Sat, 04 Feb 2023US$2.2tUS$442.3bUS$91.3b18.9x24.6x5.1x
Mon, 02 Jan 2023US$1.8tUS$447.4bUS$96.4b15.9x19.1x4.1x
Wed, 30 Nov 2022US$1.9tUS$448.8bUS$97.5b16.9x19.8x4.3x
Fri, 28 Oct 2022US$1.7tUS$442.9bUS$104.4b15.5x16.4x3.9x
Sun, 25 Sep 2022US$1.7tUS$441.5bUS$105.0b15.5x16.5x3.9x
Price to Earnings Ratio

16.5x


Total Market Cap: US$1.7tTotal Earnings: US$105.0bTotal Revenue: US$441.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 48.2x202320242025
Current Industry PE
  • Investors are optimistic on the American Semiconductor industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 60.1x which is higher than its 3-year average PE of 48.2x.
  • The 3-year average PS ratio of 9.1x is lower than the industry's current PS ratio of 13.6x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 8.6% per year over the last three years.
  • Revenues for these companies have grown 10% 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 Market1.17%
Tech0.19%
Semiconductors-2.65%
Semiconductor Equipment9.12%
Semiconductors-3.36%
Industry PE
  • Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 53.4x.
    • Analysts are expecting annual earnings growth of 25.0%, which is higher than its past year's earnings decline of 3.1% 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 25.8x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 3.1% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 11% 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
LRCX Lam ResearchUS$121.9013.5%
+US$18.4b		61.3%PE28.8x
AMAT Applied MaterialsUS$178.139.0%
+US$11.7b		-4.3%PE20.8x
MU Micron TechnologyUS$159.996.3%
+US$10.5b		79.3%PE28.8x
KLAC KLAUS$989.876.1%
+US$7.6b		35.4%PE32.2x
QCOM QUALCOMMUS$165.262.3%
+US$3.8b		-5.0%PE15.3x

Latest News

AMBA
US$79.68
Ambarella
7D
-4.5%
1Y
47.9%
ALAB
US$249.38
Astera Labs
7D
8.3%
1Y
437.0%
NVDA
US$170.29
NVIDIA
7D
-3.9%
1Y
44.5%

Advancements In AI Will Drive Future Data Center Demand

NVIDIA’s price target was raised to $209.19 as analysts cite robust AI compute demand, accelerating new product shipments, and multi-billion-dollar China revenue tailwinds, with bullish views tempered by competition and high expectations. Analyst Commentary Bullish analysts are raising targets based on ongoing, robust demand continuing to outstrip supply for Nvidia’s AI compute, with key product ramps (especially Blackwell and GB300/B300) driving sharply higher sales and visibility into multi-year growth, even as capacity scales and new product cycles launch.
LRCX
US$121.90
Lam Research
7D
13.5%
1Y
61.3%
AVGO
US$346.17
Broadcom
7D
-6.3%
1Y
114.1%
RMBS
US$97.52
Rambus
7D
26.5%
1Y
154.7%

Data Center And AI Trends Will Expand Memory Markets

Analysts have raised their price target for Rambus to $85.62, citing favorable industry dynamics, accelerating RDIMM growth, increased revenue diversification, and improving earnings consistency, all of which underpin stronger long-term earnings potential. Analyst Commentary Bullish analysts cite multiple product revenue growth catalysts, particularly for the second half of fiscal 2026.
AMAT
US$178.13
Applied Materials
7D
9.0%
1Y
-4.3%
MU
US$159.99
Micron Technology
7D
6.3%
1Y
79.3%
AMD
US$159.16
Advanced Micro Devices
7D
-0.2%
1Y
7.3%
TER
US$114.32
Teradyne
7D
-3.0%
1Y
-10.6%
ADI
US$246.32
Analog Devices
7D
-0.4%
1Y
10.6%
ARM
US$153.37
Arm Holdings
7D
-0.5%
1Y
10.8%
QCOM
US$165.26
QUALCOMM
7D
2.3%
1Y
-5.0%

AI, IoT And Data Center Expansion Will Unlock Future Upside

Analysts maintain a stable price target for QUALCOMM at $177.71, supported by optimism in diversification into automotive, AI, and IoT despite conservative near-term guidance, as recent results slightly exceeded expectations and management’s transformation efforts bolster confidence in future growth. Analyst Commentary Bullish analysts highlight building momentum from emerging opportunities in advanced driver-assistance systems, robotics, personal AI devices, datacenter, and industrial automation, forecasting stronger fundamentals starting fiscal 2027.
MRVL
US$70.98
Marvell Technology
7D
5.8%
1Y
-0.8%
KLAC
US$989.87
KLA
7D
6.1%
1Y
35.4%
TXN
US$180.30
Texas Instruments
7D
-2.0%
1Y
-10.2%

Texas Instruments Incorporated Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Aug 01
Texas Instruments Incorporated Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next