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U.S. Semiconductors Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies125
  • 7D8.9%
  • 3M9.0%
  • 1Y38.9%
  • YTD41.7%

The Semiconductors industry is up 8.9% in the last week, with NVIDIA up 11%. This means that the industry has gained 39% over the past year. 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
Wed, 24 Dec 2025US$8.9tUS$640.7bUS$176.4b36.6x50.5x13.9x
Fri, 21 Nov 2025US$8.6tUS$630.1bUS$165.7b32.8x52.2x13.7x
Sun, 19 Oct 2025US$8.6tUS$597.4bUS$137.3b35.9x62.6x14.4x
Tue, 16 Sep 2025US$8.1tUS$593.8bUS$134.6b32.3x60.5x13.7x
Thu, 14 Aug 2025US$8.0tUS$572.2bUS$118.2b30.5x67.4x13.9x
Sat, 12 Jul 2025US$7.3tUS$566.4bUS$118.3b31.9x61.7x12.9x
Mon, 09 Jun 2025US$6.4tUS$563.8bUS$116.8b26.2x54.8x11.3x
Wed, 07 May 2025US$5.3tUS$539.2bUS$108.6b22.5x48.7x9.8x
Fri, 04 Apr 2025US$4.9tUS$537.4bUS$108.9b22.4x44.9x9.1x
Sun, 02 Mar 2025US$5.7tUS$532.8bUS$103.5b31x55.4x10.8x
Tue, 28 Jan 2025US$5.9tUS$513.6bUS$96.5b31.2x61.2x11.5x
Thu, 26 Dec 2024US$6.4tUS$513.5bUS$96.7b30x66.3x12.5x
Sat, 23 Nov 2024US$6.2tUS$505.3bUS$93.4b29.7x66.5x12.3x
Mon, 21 Oct 2024US$6.2tUS$489.1bUS$101.7b29x61x12.7x
Wed, 18 Sep 2024US$5.5tUS$485.4bUS$99.5b26.5x55.8x11.4x
Fri, 16 Aug 2024US$5.6tUS$467.2bUS$94.7b29.5x58.6x11.9x
Sun, 14 Jul 2024US$6.3tUS$467.9bUS$96.6b29.8x65.4x13.5x
Tue, 11 Jun 2024US$5.9tUS$461.2bUS$95.7b29.3x61.3x12.7x
Thu, 09 May 2024US$4.8tUS$445.8bUS$83.5b28.6x58.1x10.9x
Sat, 06 Apr 2024US$4.8tUS$447.7bUS$81.6b29.8x59.1x10.8x
Mon, 04 Mar 2024US$4.8tUS$443.3bUS$81.1b29.9x59.4x10.9x
Wed, 31 Jan 2024US$4.0tUS$431.9bUS$71.4b29.4x56.3x9.3x
Fri, 29 Dec 2023US$3.6tUS$433.4bUS$69.5b27.8x52.4x8.4x
Sun, 26 Nov 2023US$3.2tUS$432.4bUS$70.6b25.2x46x7.5x
Tue, 24 Oct 2023US$2.9tUS$426.3bUS$65.3b22.9x43.9x6.7x
Thu, 21 Sep 2023US$2.9tUS$430.8bUS$68.7b24.8x42.3x6.8x
Sat, 19 Aug 2023US$2.9tUS$421.1bUS$62.9b25.1x46.1x6.9x
Mon, 17 Jul 2023US$3.1tUS$429.2bUS$67.3b23.5x46.2x7.2x
Wed, 14 Jun 2023US$3.0tUS$434.2bUS$71.9b24.3x41.5x6.9x
Fri, 12 May 2023US$2.3tUS$434.1bUS$70.5b19x33.1x5.4x
Sun, 09 Apr 2023US$2.4tUS$443.8bUS$85.6b17.7x27.6x5.3x
Tue, 07 Mar 2023US$2.3tUS$445.1bUS$90.1b18.1x25.2x5.1x
Thu, 02 Feb 2023US$2.2tUS$443.7bUS$90.7b18.8x24.7x5.1x
Sat, 31 Dec 2022US$1.8tUS$447.4bUS$96.4b15.9x19.1x4.1x
Price to Earnings Ratio

19.1x


Total Market Cap: US$1.8tTotal Earnings: US$96.4bTotal Revenue: US$447.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 51.6x202320242025
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 51.6x.
  • The 3-year average PS ratio of 10.0x is lower than the industry's current PS ratio of 13.9x.
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 Market2.62%
Tech4.72%
Semiconductors8.86%
Semiconductors8.92%
Semiconductor Equipment8.13%
Industry PE
  • Investors are most optimistic about the Semiconductors industry, which is trading close to its 3-year average PE ratio of 56.9x.
    • Analysts are expecting annual earnings growth of 26.3%, which is higher than its past year's earnings growth of 8.7% 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 27.7x.
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 8.7% 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
NVDA NVIDIAUS$188.6110.3%
+US$429.4b		34.5%PE46.2x
AVGO BroadcomUS$350.227.4%
+US$120.9b		46.1%PE71.8x
MU Micron TechnologyUS$286.6827.1%
+US$69.5b		221.1%PE27.1x
LRCX Lam ResearchUS$177.3314.4%
+US$28.1b		140.2%PE38.3x
AMD Advanced Micro DevicesUS$215.048.5%
+US$27.6b		70.3%PE111.8x

Latest News

NVEC
US$63.72
NVE
7D
-10.2%
1Y
-23.0%

NVE Corporation's (NASDAQ:NVEC) Share Price Could Signal Some Risk

Dec 24
NVE Corporation's (NASDAQ:NVEC) Share Price Could Signal Some Risk
AVGO
US$349.32
Broadcom
7D
7.1%
1Y
45.7%
MU
US$276.27
Micron Technology
7D
22.5%
1Y
209.4%
LRCX
US$175.16
Lam Research
7D
13.0%
1Y
137.2%

LRCX: Recent AI And Memory Upcycle Euphoria Will Likely Fade

Analysts have raised their price target on Lam Research to approximately $110 from about $81, citing the company's stronger than expected earnings momentum, improving wafer fab equipment upcycle exposure, and durable AI driven demand for advanced memory and 3D stacking technologies. Analyst Commentary Recent Street research reflects a broadly constructive view on Lam Research, with multiple firms lifting price targets and highlighting the company’s leverage to an improving wafer fab equipment cycle, AI driven memory demand, and stronger than expected profitability.
NVDA
US$189.21
NVIDIA
7D
10.7%
1Y
34.9%
AMD
US$214.90
Advanced Micro Devices
7D
8.5%
1Y
70.2%

AMD: OpenAI Data Center Pact Will Drive Long-Term AI Upside

The analyst fair value estimate for Advanced Micro Devices has risen sharply from $230.00 to approximately $362.15, as analysts increase long-term revenue growth and margin assumptions based on large multiyear AI accelerator and rack-scale system opportunities highlighted in recent Street research. Analyst Commentary Bullish analysts are broadly constructive on AMD's positioning in the accelerating AI infrastructure cycle, with recent notes emphasizing both the magnitude and duration of the company’s growth runway.
KLAC
US$1,268.75
KLA
7D
8.3%
1Y
95.0%
MRVL
US$87.68
Marvell Technology
7D
7.3%
1Y
-24.4%
SYNA
US$73.41
Synaptics
7D
-0.6%
1Y
-5.6%
AMAT
US$260.23
Applied Materials
7D
4.8%
1Y
54.6%
INDI
US$3.70
indie Semiconductor
7D
-2.6%
1Y
-12.7%

INDI: Automotive Radar Integration May Drive Stronger Future Performance

Analysts have nudged their price target on indie Semiconductor higher, citing stronger projected revenue growth and slightly improved profitability. Fair value estimates have risen from 4.00 dollars to 5.00 dollars as they modestly lower the assumed discount rate and lift future earnings multiple expectations.
DQ
US$31.30
Daqo New Energy
7D
-2.7%
1Y
63.0%

DQ: Industry Stabilization And Anti Involution Policy Will Test Margin Recovery Prospects

Analysts have raised their price target on Daqo New Energy by $11 to $25 per share, citing expectations that industry stabilization and potential cash cost breakeven in Q3 could mark an earnings inflection point, despite recent below-cost sales and lowered 2025 production guidance. Analyst Commentary Street research points to a more constructive outlook on Daqo New Energy, even as near term fundamentals remain challenging.
GFS
US$35.79
GlobalFoundries
7D
-1.3%
1Y
-19.8%

GFS: U.S. Manufacturing Demand And Policy Tailwinds Will Drive Upside Potential

Analysts have trimmed their price target on GlobalFoundries by about $8 to approximately $47 per share, citing a sluggish cyclical recovery, higher near term spending that offsets margin gains, and the longer runway before U.S. manufacturing advantages fully translate into revenue growth. Analyst Commentary Analyst reactions to the latest results have been mixed, with headline price targets moving lower but commentary emphasizing that GlobalFoundries continues to execute steadily against a challenging cyclical backdrop.
ARM
US$112.02
Arm Holdings
7D
-2.2%
1Y
-15.0%

ARM Risks Mount As AI-Driven Royalties May Not Justify Premium Multiple

We raise our fair value estimate for Arm Holdings to approximately $99 per share from about $86, reflecting analysts' higher price targets driven by solid earnings beats, accelerating licensing and AI related royalty growth, and improved long term revenue and multiple assumptions, despite a modestly higher discount rate and slightly lower profit margin outlook. Analyst Commentary Recent Street research on Arm reflects a generally constructive outlook on earnings power and artificial intelligence related optionality, but it also highlights areas of caution that could pressure the stock's premium valuation if execution falters.
SWKS
US$64.48
Skyworks Solutions
7D
-0.8%
1Y
-28.6%

SWKS: Merger Synergies With Qorvo Will Offset Ongoing Handset And Apple Risks

Our updated narrative lifts Skyworks Solutions' fair value estimate to $70, up from $58, as analysts cite the Qorvo merger's valuation and cost synergies as sufficient to offset lingering handset and Apple exposure headwinds. Analyst Commentary Recent Street research around the Skyworks and Qorvo merger has shifted from outright skepticism to a more balanced, wait and see stance.
DVLT
US$0.82
Datavault AI
7D
-36.7%
1Y
-60.0%