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U.S. Semiconductors Industry Analysis

UpdatedJul 01, 2026
DataAggregated Company Financials
Companies130
  • 7D3.8%
  • 3M51.2%
  • 1Y91.0%
  • YTD47.7%

In the last week, the Semiconductors industry is up 3.8%, with Micron Technology leading the way with a 9.7% gain. In the same time, QUALCOMM was down 9.5%. In the last 12 months, the industry was up 91%. Earnings are forecast to grow by 28% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Jul 2026US$13.0tUS$787.6bUS$292.4b75.5x44.6x16.5x
Fri, 29 May 2026US$7.7tUS$747.9bUS$261.7b68.7x29.6x10.3x
Sun, 26 Apr 2026US$6.3tUS$699.3bUS$216.3b50.8x29.1x9x
Tue, 24 Mar 2026US$8.8tUS$697.6bUS$215.5b40x40.7x12.6x
Thu, 19 Feb 2026US$9.2tUS$646.9bUS$179.6b42.6x51.4x14.3x
Sat, 17 Jan 2026US$9.1tUS$640.8bUS$176.4b43.4x51.9x14.3x
Mon, 15 Dec 2025US$8.6tUS$635.7bUS$173.0b37x49.4x13.5x
Wed, 12 Nov 2025US$9.2tUS$610.5bUS$153.3b35.6x59.9x15x
Fri, 10 Oct 2025US$8.8tUS$597.4bUS$137.3b38.3x64.2x14.8x
Sun, 07 Sep 2025US$7.6tUS$593.8bUS$134.6b32x56.4x12.8x
Tue, 05 Aug 2025US$7.5tUS$569.9bUS$118.0b28.9x63.8x13.2x
Thu, 03 Jul 2025US$7.0tUS$566.4bUS$118.3b29.7x58.8x12.3x
Sat, 31 May 2025US$6.2tUS$561.2bUS$113.9b24.7x54.8x11.1x
Mon, 28 Apr 2025US$5.2tUS$538.8bUS$108.9b24.2x47.4x9.6x
Wed, 26 Mar 2025US$5.6tUS$539.2bUS$108.9b26.8x51.4x10.4x
Fri, 21 Feb 2025US$6.5tUS$515.3bUS$93.9b31.4x68.8x12.5x
Sun, 19 Jan 2025US$6.4tUS$513.5bUS$96.7b33.1x66.5x12.5x
Tue, 17 Dec 2024US$6.2tUS$509.5bUS$93.6b32.1x66.5x12.2x
Thu, 14 Nov 2024US$6.4tUS$488.3bUS$84.2b30.3x75.9x13.1x
Sat, 12 Oct 2024US$6.2tUS$489.2bUS$101.8b28.1x60.9x12.7x
Mon, 09 Sep 2024US$5.0tUS$485.4bUS$99.5b25.8x49.8x10.2x
Wed, 07 Aug 2024US$4.9tUS$468.1bUS$92.9b25.7x52.9x10.5x
Fri, 05 Jul 2024US$6.2tUS$467.9bUS$96.6b30.8x64.6x13.3x
Sun, 02 Jun 2024US$5.5tUS$462.6bUS$95.6b29.5x57.1x11.8x
Tue, 30 Apr 2024US$4.8tUS$446.9bUS$83.2b28.3x57.2x10.7x
Thu, 28 Mar 2024US$4.9tUS$448.2bUS$81.2b29.1x60.8x11x
Sat, 24 Feb 2024US$4.5tUS$443.5bUS$81.1b30.9x56x10.2x
Mon, 22 Jan 2024US$4.0tUS$433.2bUS$69.5b27x57.1x9.2x
Wed, 20 Dec 2023US$3.6tUS$432.7bUS$70.6b26.3x50.9x8.3x
Fri, 17 Nov 2023US$3.3tUS$420.6bUS$62.1b25.2x52.4x7.7x
Sun, 15 Oct 2023US$3.0tUS$427.9bUS$65.8b25x45.8x7x
Tue, 12 Sep 2023US$3.0tUS$428.1bUS$68.7b25.3x43.8x7x
Thu, 10 Aug 2023US$3.0tUS$419.8bUS$63.2b25.6x47.1x7.1x
Sat, 08 Jul 2023US$3.0tUS$429.1bUS$67.3b22.7x43.9x6.9x
Price to Earnings Ratio

43.9x


Total Market Cap: US$3.0tTotal Earnings: US$67.3bTotal Revenue: US$429.1bTotal 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 44.6x which is lower than its 3-year average PE of 54.2x.
  • The 3-year average PS ratio of 11.3x is lower than the industry's current PS ratio of 16.5x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 63% per year over the last three years.
  • Revenues for these companies have grown 22% 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 Market1.92%
Tech2.32%
Semiconductors3.80%
Semiconductor Equipment18.74%
Semiconductors1.84%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry which is trading above its 3-year average PE ratio of 33.5x.
    • Analysts are expecting annual earnings growth of 21.4%, which is lower than the prior year's growth of 25.6% per year.
  • Investors are most pessimistic about the Semiconductors industry, which is trading below its 3-year average of 58.7x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings growth rate of 14% per year.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 21% 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
MU Micron TechnologyUS$1.15k9.7%
+US$117.5b		854.8%PE25.8x
AMAT Applied MaterialsUS$723.0023.4%
+US$108.9b		293.4%PE67.5x
AMD Advanced Micro DevicesUS$580.9111.7%
+US$99.6b		326.8%PE192.1x
LRCX Lam ResearchUS$433.3316.7%
+US$77.5b		347.6%PE80.8x
KLAC KLAUS$301.7123.4%
+US$74.7b		235.7%PE84.4x

Latest News

QCOM
US$184.79
QUALCOMM
7D
-9.5%
1Y
15.9%
Seeking Alpha • 1h

Qualcomm Stock: Not The Next AI Darling (Rating Downgrade)

Summary Qualcomm shares are swinging wildly. The company's AI pivot adds risk and reward to the equation. Short-term execution risks remain even if the long-term strategy appears sound. Read the full article on Seeking Alpha
INTC
US$139.63
Intel
7D
5.6%
1Y
511.1%
AMD
US$580.91
Advanced Micro Devices
7D
11.7%
1Y
326.8%
KLAC
US$301.71
KLA
7D
23.4%
1Y
235.7%
MRVL
US$297.89
Marvell Technology
7D
6.8%
1Y
290.7%
AVGO
US$377.75
Broadcom
7D
-0.6%
1Y
42.7%
MU
US$1,154.29
Micron Technology
7D
9.7%
1Y
854.8%
LRCX
US$433.33
Lam Research
7D
16.7%
1Y
347.6%
AMAT
US$723.00
Applied Materials
7D
23.4%
1Y
293.4%
ALAB
US$483.02
Astera Labs
7D
21.7%
1Y
444.8%
Narrative Update • Jun 29

ALAB: AI Inference Shift And Homegrown Chips Will Constrain Future Upside

Astera Labs' analyst fair value estimate has been revised from $171.40 to $155.00, with analysts pointing to higher modeled revenue growth, a slightly firmer discount rate, and updated long term P/E assumptions following a broad round of price target increases across the Street. Analyst Commentary Recent Street research on Astera Labs shows a wide range of views on how the stock is priced, with several firms revising price targets and ratings as they update industry models and AI related assumptions.
ADI
US$397.17
Analog Devices
7D
-2.5%
1Y
65.0%
Narrative Update • Jun 29

ADI: AI Data Center Power And Cyclical Recovery Will Shape Balanced Returns

Analog Devices' updated narrative price target moves to $377.78 from $314.76, reflecting analysts' use of higher revenue growth and profit margin assumptions, along with continued confidence in the company's exposure to AI infrastructure, data center power, industrial recovery and autos, as highlighted across recent beat and raise quarters and price target hikes from multiple firms. Analyst Commentary Street research on Analog Devices has been broadly constructive, with many firms lifting their price targets after recent beat and raise quarters and stronger guidance tied to AI infrastructure, data center power and industrial recovery.
TXN
US$298.07
Texas Instruments
7D
-2.1%
1Y
41.6%
ARM
US$354.57
Arm Holdings
7D
-3.2%
1Y
126.8%
Narrative Update • Jun 28

ARM: Agentic AI CPU Demand Will Drive Next Phase Of Upside

The fair value estimate for Arm Holdings has been updated from $416.94 to $500.00 as analysts highlight rising price targets across the Street and see stronger potential CPU demand tied to agentic AI workloads. Analyst Commentary Recent research on Arm Holdings points to a cluster of higher price targets and upbeat commentary on how agentic AI workloads could affect CPU demand.
ON
US$94.54
ON Semiconductor
7D
-19.2%
1Y
76.4%
Seeking Alpha • Jun 27

onsemi: Chasing AI Opportunities With Synaptics

Summary onsemi announced a $7 billion all-stock acquisition of Synaptics, triggering a sharp share price decline exceeding the deal's value. The acquisition aims to expand onsemi's capabilities in Edge AI and physical AI, targeting $200 million in annual synergies and accretive non-GAAP earnings within 18 months. Pro forma, Synaptics will contribute 17% to ON's sales, with combined operating margins at 22% and leverage at 0.6x; dilution and integration risks remain. Despite the market's negative reaction, I see the pullback as an overreaction, but high expectations and recent momentum temper immediate conviction to buy. Read the full article on Seeking Alpha
NXPI
US$281.03
NXP Semiconductors
7D
-6.3%
1Y
27.0%
TSEM
US$260.64
Tower Semiconductor
7D
-7.8%
1Y
514.4%
Analysis Article • Jun 19

Tower Semiconductor (TSEM) Stock Could Be 8.6% Undervalued After IQE Silicon Photonics Deal

Tower Semiconductor (TSEM) has drawn fresh attention after IQE plc agreed to supply Indium Phosphide epiwafers under a multi-year deal related to AI data center optical connectivity and the expansion of silicon photonics. See our latest analysis for Tower Semiconductor. The IQE agreement appears to have sharpened investor focus on Tower Semiconductor, with a 1-day share price return of 7.34% and a 90-day share price return of 75.24% contributing to very large multi year total shareholder...