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U.S. Semiconductors Industry Analysis

UpdatedSep 24, 2025
DataAggregated Company Financials
Companies123
  • 7D1.0%
  • 3M17.2%
  • 1Y42.6%
  • YTD30.7%

Over the last 7 days, the Semiconductors industry has risen 1.0%, driven by gains from NVIDIA of 2.0%. Meanwhile, Broadcom actually underperformed within the industry, shrinking 5.9% in the last week. This means that the industry has gained 43% over the past year. Looking forward, earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Sep 2025US$8.3tUS$593.8bUS$134.6b35.4x61.7x14x
Fri, 22 Aug 2025US$7.6tUS$573.3bUS$118.6b28.1x64.3x13.3x
Sun, 20 Jul 2025US$7.6tUS$566.4bUS$118.3b31.1x64x13.4x
Tue, 17 Jun 2025US$6.5tUS$563.9bUS$116.8b27.3x55.4x11.5x
Thu, 15 May 2025US$6.0tUS$541.5bUS$109.1b23.4x55.3x11.1x
Sat, 12 Apr 2025US$4.9tUS$537.4bUS$108.9b23x44.5x9x
Mon, 10 Mar 2025US$5.4tUS$536.3bUS$108.3b30.1x49.7x10x
Wed, 05 Feb 2025US$5.7tUS$512.5bUS$94.9b30.6x60.2x11.2x
Fri, 03 Jan 2025US$6.2tUS$513.5bUS$96.7b30.8x63.7x12x
Sun, 01 Dec 2024US$6.0tUS$505.1bUS$93.4b30.2x64.4x11.9x
Tue, 29 Oct 2024US$6.3tUS$488.9bUS$101.3b28x61.8x12.8x
Thu, 26 Sep 2024US$5.8tUS$485.6bUS$99.5b26.9x57.9x11.9x
Sat, 24 Aug 2024US$5.9tUS$466.0bUS$94.2b28.9x62.7x12.7x
Mon, 22 Jul 2024US$5.8tUS$467.9bUS$96.6b28x59.7x12.3x
Wed, 19 Jun 2024US$6.4tUS$464.9bUS$94.3b30.2x67.4x13.7x
Fri, 17 May 2024US$5.1tUS$444.9bUS$83.2b29.5x61.1x11.4x
Sun, 14 Apr 2024US$5.0tUS$447.5bUS$81.6b28.8x60.9x11.1x
Tue, 12 Mar 2024US$4.8tUS$446.3bUS$78.2b29.3x61.6x10.8x
Thu, 08 Feb 2024US$4.1tUS$429.8bUS$71.5b28.7x57.2x9.5x
Sat, 06 Jan 2024US$3.4tUS$433.3bUS$69.5b26.2x49.3x7.9x
Mon, 04 Dec 2023US$3.2tUS$432.3bUS$70.4b25.4x45.6x7.4x
Wed, 01 Nov 2023US$2.8tUS$424.2bUS$63.4b20.6x43.8x6.5x
Fri, 29 Sep 2023US$2.9tUS$428.2bUS$65.8b24.8x44.7x6.9x
Sun, 27 Aug 2023US$3.0tUS$427.7bUS$68.4b25.8x43.6x7x
Tue, 25 Jul 2023US$3.1tUS$429.2bUS$67.3b23.2x45.7x7.2x
Thu, 22 Jun 2023US$3.0tUS$434.1bUS$71.9b23.6x41.1x6.8x
Sat, 20 May 2023US$2.5tUS$434.7bUS$70.4b21.1x35.8x5.8x
Mon, 17 Apr 2023US$2.4tUS$443.8bUS$85.6b18.6x27.5x5.3x
Wed, 15 Mar 2023US$2.2tUS$447.4bUS$90.2b18.3x24.4x4.9x
Fri, 10 Feb 2023US$2.2tUS$442.7bUS$89.1b19.2x25.2x5.1x
Sun, 08 Jan 2023US$1.9tUS$447.5bUS$96.4b16.8x19.8x4.3x
Tue, 06 Dec 2022US$2.0tUS$449.4bUS$97.5b17.1x20.4x4.4x
Thu, 03 Nov 2022US$1.7tUS$443.0bUS$97.9b15.4x17.4x3.9x
Sat, 01 Oct 2022US$1.7tUS$439.9bUS$103.8b15.5x16x3.8x
Price to Earnings Ratio

16x


Total Market Cap: US$1.7tTotal Earnings: US$103.8bTotal Revenue: US$439.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 48.4x202320242025
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 61.7x which is higher than its 3-year average PE of 48.4x.
  • The 3-year average PS ratio of 9.1x is lower than the industry's current PS ratio of 14.0x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 9.0% per year over the last three years.
  • Revenues for these companies have grown 11% 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 Market0.70%
Tech2.41%
Semiconductors1.05%
Semiconductor Equipment10.86%
Semiconductors0.39%
Industry PE
  • Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 53.6x.
    • Analysts are expecting annual earnings growth of 25.1%, 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 25.9x.
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
NVDA NVIDIAUS$178.432.0%
+US$86.3b		47.6%PE50.1x
AMAT Applied MaterialsUS$200.8715.7%
+US$21.8b		2.1%PE23.4x
INTC IntelUS$29.3416.1%
+US$18.9b		28.6%PS2.6x
LRCX Lam ResearchUS$131.939.5%
+US$14.5b		66.8%PE31.2x
KLAC KLAUS$1.07k8.1%
+US$10.6b		39.1%PE34.8x

Latest News

KLAC
US$1,071.20
KLA
7D
8.1%
1Y
39.1%
MRVL
US$74.62
Marvell Technology
7D
8.4%
1Y
4.8%
CRDO
US$162.26
Credo Technology Group Holding
7D
-1.3%
1Y
443.0%
MU
US$166.41
Micron Technology
7D
4.8%
1Y
77.0%
MTSI
US$128.80
MACOM Technology Solutions Holdings
7D
-1.8%
1Y
21.2%
POWI
US$41.54
Power Integrations
7D
-8.0%
1Y
-32.8%
LRCX
US$131.93
Lam Research
7D
9.5%
1Y
66.8%

Advanced Chip Manufacturing Will Expand Global Semiconductor Markets

Lam Research's price target was raised to $110.53 as analysts cite strengthening demand for AI-driven wafer fab equipment, margin outperformance, and robust China outlook, partly offset by valuation concerns. Analyst Commentary Bullish analysts highlight strengthening demand for wafer fab equipment (WFE) driven by artificial intelligence inflection, increased NAND and DRAM high bandwidth memory spending, and accelerating AI infrastructure investments benefitting Lam Research's product exposure.
AMAT
US$200.87
Applied Materials
7D
15.7%
1Y
2.1%
PI
US$184.97
Impinj
7D
-4.5%
1Y
-13.1%
AVGO
US$338.94
Broadcom
7D
-5.9%
1Y
93.9%
INTC
US$29.34
Intel
7D
16.1%
1Y
28.6%

Intel Corporation's (NASDAQ:INTC) Share Price Boosted 26% But Its Business Prospects Need A Lift Too

Sep 20
Intel Corporation's (NASDAQ:INTC) Share Price Boosted 26% But Its Business Prospects Need A Lift Too
NVDA
US$178.43
NVIDIA
7D
2.0%
1Y
47.6%
ALAB
US$230.11
Astera Labs
7D
-3.6%
1Y
349.7%

UALink And PCIe Advancements Will Accelerate AI Infrastructure Deployment

Astera Labs’ consensus price target has risen to $182.62 as analysts cite strong adoption of the Scorpio P PCIe switch, broader AI platform exposure, and growing per-system revenues, partially tempered by valuation concerns. Analyst Commentary Bullish analysts highlight the successful ramp-up of the Scorpio P PCIe switch, contributing to revenue upside, particularly for AI rack scale-out applications.
ARM
US$140.99
Arm Holdings
7D
-8.4%
1Y
-1.6%
ENPH
US$37.36
Enphase Energy
7D
-4.2%
1Y
-68.0%

Global Electrification And Solar Trends Will Open New Markets

Analysts have maintained Enphase Energy’s price target at $42.79 as weaker U.S. residential solar demand, driven by policy uncertainty and expiring tax credits, is offset by potential opportunities in third-party ownership and modestly resilient margins. Analyst Commentary Bearish analysts cited new or accelerated policy changes—particularly expiration and restriction of federal investment tax credits (ITC/PTC/Section 25D) and lease eligibility under the “One Big Beautiful Bill”—as likely to weigh on U.S. residential solar demand and Enphase’s near- and medium-term outlook.
QCOM
US$169.53
QUALCOMM
7D
3.3%
1Y
1.5%

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.