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U.S. Semiconductors Industry Analysis

UpdatedSep 21, 2026
DataAggregated Company Financials
Companies130
  • 7D3.1%
  • 3M-6.8%
  • 1Y52.7%
  • YTD38.4%

Over the last 7 days, the Semiconductors industry has risen 3.1%, driven by gains from NVIDIA of 1.8%. This means that the industry has gained 53% over the past year. As for the next few years, earnings are expected to grow by 31% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 21 Sep 2026US$7.2tUS$868.6bUS$330.8b47x21.8x8.3x
Wed, 19 Aug 2026US$7.3tUS$804.6bUS$287.0b50.9x25.6x9.1x
Fri, 17 Jul 2026US$7.4tUS$787.7bUS$292.4b59.4x25.4x9.4x
Sun, 14 Jun 2026US$13.0tUS$755.4bUS$266.0b70.7x48.7x17.2x
Tue, 12 May 2026US$7.2tUS$706.8bUS$220.7b61.7x32.4x10.1x
Thu, 09 Apr 2026US$9.2tUS$697.6bUS$215.5b39.1x42.6x13.2x
Sat, 07 Mar 2026US$8.9tUS$682.0bUS$203.4b39.4x43.7x13x
Mon, 02 Feb 2026US$9.3tUS$642.0bUS$176.8b41.9x52.7x14.5x
Wed, 31 Dec 2025US$8.9tUS$640.8bUS$176.4b36.4x50.3x13.8x
Fri, 28 Nov 2025US$8.8tUS$631.0bUS$166.0b35.8x52.8x13.9x
Sun, 26 Oct 2025US$8.8tUS$599.6bUS$158.5b39.5x55.4x14.7x
Tue, 23 Sep 2025US$8.1tUS$593.8bUS$134.6b34.9x60.4x13.7x
Thu, 21 Aug 2025US$7.7tUS$572.7bUS$118.5b28.3x64.7x13.4x
Sat, 19 Jul 2025US$7.6tUS$566.4bUS$118.3b31.1x64.3x13.4x
Mon, 16 Jun 2025US$6.5tUS$563.9bUS$116.8b26.2x55.3x11.4x
Wed, 14 May 2025US$5.8tUS$541.5bUS$109.1b25x53x10.7x
Fri, 11 Apr 2025US$5.2tUS$537.3bUS$108.9b22.1x47.8x9.7x
Sun, 09 Mar 2025US$5.4tUS$536.3bUS$108.3b30.1x49.7x10x
Tue, 04 Feb 2025US$5.8tUS$512.6bUS$95.1b30.7x61.3x11.4x
Thu, 02 Jan 2025US$6.2tUS$513.5bUS$96.7b30x63.7x12x
Sat, 30 Nov 2024US$6.0tUS$505.1bUS$93.4b30.2x64.4x11.9x
Mon, 28 Oct 2024US$6.3tUS$489.4bUS$101.5b28x61.7x12.8x
Wed, 25 Sep 2024US$5.6tUS$485.6bUS$99.5b26.9x56.6x11.6x
Fri, 23 Aug 2024US$5.8tUS$466.7bUS$94.3b28.5x61.8x12.5x
Sun, 21 Jul 2024US$5.8tUS$467.9bUS$96.6b28x59.7x12.3x
Tue, 18 Jun 2024US$6.3tUS$464.9bUS$94.3b29.8x66.6x13.5x
Thu, 16 May 2024US$4.9tUS$444.9bUS$83.3b29.5x59.4x11.1x
Sat, 13 Apr 2024US$5.0tUS$447.5bUS$81.6b28.8x60.9x11.1x
Mon, 11 Mar 2024US$4.9tUS$446.3bUS$78.2b29x62.6x11x
Wed, 07 Feb 2024US$4.1tUS$430.4bUS$71.8b28.4x57x9.5x
Fri, 05 Jan 2024US$3.4tUS$433.2bUS$69.5b26.3x49.3x7.9x
Sun, 03 Dec 2023US$3.2tUS$432.3bUS$70.4b25.4x45.6x7.4x
Tue, 31 Oct 2023US$2.8tUS$425.2bUS$63.9b20.7x43.3x6.5x
Thu, 28 Sep 2023US$2.9tUS$430.8bUS$68.7b24.3x42.1x6.7x
Price to Earnings Ratio

42.1x


Total Market Cap: US$2.9tTotal Earnings: US$68.7bTotal Revenue: US$430.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Semiconductors Industry Price to Earnings3Y Average 52.9x202420252026
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 21.8x which is lower than its 3-year average PE of 52.9x.
  • The 3-year average PS ratio of 11.6x is higher than the industry's current PS ratio of 8.3x.
Past Earnings Growth
  • The earnings for companies in the Semiconductor industry have grown 69% per year over the last three years.
  • Revenues for these companies have grown 26% 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 Market-0.10%
Tech1.69%
Semiconductors3.06%
Semiconductors3.42%
Semiconductor Equipment-0.39%
Industry PE
  • Investors are most optimistic about the Semiconductor Equipment industry which is trading above its 3-year average PE ratio of 36.0x.
    • Analysts are expecting annual earnings growth of 24.1%, which is lower than the prior year's growth of 35.7% per year.
  • Investors are most pessimistic about the Semiconductors industry, which is trading below its 3-year average of 56.5x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 31% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Semiconductor Equipment industry is expected to see its earnings grow by 24% 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
AMD Advanced Micro DevicesUS$559.8213.5%
+US$108.4b		250.3%PE141.3x
MU Micron TechnologyUS$1.02k9.9%
+US$103.6b		517.1%PE22.7x
NVDA NVIDIAUS$222.271.8%
+US$96.1b		25.8%PE27.8x
INTC IntelUS$108.6011.7%
+US$60.0b		277.6%PS10x
MRVL Marvell TechnologyUS$244.2511.6%
+US$22.3b		223.4%PE81.1x

Latest News

ARM
US$275.61
Arm Holdings
7D
4.1%
1Y
92.9%
AMD
US$559.82
Advanced Micro Devices
7D
13.5%
1Y
250.3%
NVDA
US$222.27
NVIDIA
7D
1.8%
1Y
25.8%
LSCC
US$110.96
Lattice Semiconductor
7D
-7.3%
1Y
53.8%
AVGO
US$357.61
Broadcom
7D
-1.2%
1Y
3.7%
Narrative Update • Sep 17

AVGO: Custom AI Silicon And Anthropic Financing Will Drive Multiyear AI Revenue Visibility

Analysts have lifted their fair value estimate for Broadcom to about $692 from $675 as they factor in a higher projected profit margin, a slightly higher discount rate, and Street research that highlights the company’s AI focused custom ASIC contracts and long term AI revenue guidance, while applying a lower future P/E multiple. Analyst Commentary Street research on Broadcom points to a mix of enthusiasm around its AI exposure and some valuation caution, with many bullish analysts still framing the stock as an execution story on long term AI contracts and custom silicon.
ON
US$69.98
ON Semiconductor
7D
-8.1%
1Y
37.0%
Narrative Update • Sep 17

ON: Embedded Power And Policy Shifts Will Likely Sustain Balanced Risk Profile

Analysts have reduced their fair value estimate for ON Semiconductor stock from $85.00 to $75.00, citing updated assumptions on the discount rate, revenue growth, profit margin, and future P/E. What's in the News for ON Semiconductor onsemi introduced its Embedded Power Platform, which uses the silicon wafer as the package to combine multiple power devices into a single device and target AI data centers, electric vehicles and industrial markets.
MRVL
US$244.25
Marvell Technology
7D
11.6%
1Y
223.4%
Narrative Update • Sep 17

MRVL: Expanded AI Networking And Custom Cloud Chips Will Shape Future Returns

Marvell Technology's analyst price target has been revised higher to $289.04 from $259.66, as analysts factor in updated assumptions for stronger revenue growth, higher profit margins, and a lower future P/E multiple, supported by a series of recent research reports citing AI networking strength and expanded custom silicon agreements with major cloud providers. Analyst Commentary Recent research on Marvell Technology points to a wide range of views on how much of the AI opportunity is already reflected in the stock and how execution risk could affect the current valuation.
MU
US$1,015.80
Micron Technology
7D
9.9%
1Y
517.1%
ALAB
US$303.25
Astera Labs
7D
18.0%
1Y
27.8%
AMAT
US$444.57
Applied Materials
7D
-2.6%
1Y
133.9%
Narrative Update • Sep 17

AMAT: AI DRAM And Advanced Packaging Demand Will Sustain Multi Year Upside

Applied Materials' updated analyst price target edges lower as fair value is reset from about $870.69 to $848.57. This reflects modest P/E multiple compression even as analysts highlight ongoing AI driven wafer fab equipment demand and continued strength in DRAM, advanced logic, and advanced packaging.
TER
US$371.47
Teradyne
7D
-2.2%
1Y
209.9%
INTC
US$108.60
Intel
7D
5.5%
1Y
267.1%
LRCX
US$288.11
Lam Research
7D
-3.4%
1Y
127.0%
QCOM
US$177.72
QUALCOMM
7D
-1.3%
1Y
4.7%
Seeking Alpha • Sep 13

Qualcomm: AI Boom Ignored

Summary Qualcomm is executing a major pivot from handsets to AI data centers, highlighted by a transformative AWS deal. The wireless company targets $15B in data center revenue by FY29, with non-handset sales projected at $40B, signaling robust diversification. The AWS agreement includes up to $60B in payments for 25M warrants, accelerating QCOM’s data center revenue ramp at a limited cost. The stock trades at ~10x FY29 EPS target of $18, offering substantial upside as the market underappreciates its AI-driven growth trajectory. Read the full article on Seeking Alpha
KLAC
US$176.99
KLA
7D
4.7%
1Y
65.2%
Seeking Alpha • Sep 09

KLA Corporation Is A Buy The Dip Opportunity (Technical Analysis)

Summary KLA Corporation exhibits a bullish trend, with price action showing higher highs and recapturing its 30-week EMA. KLAC's fundamentals are robust, with FY 2027 and FY 2028 revenue and EPS estimates projecting 33%-57% and 44%-77% growth, respectively. Management targets doubling revenues and a 123% EPS increase by FY 2030, supported by strong cash flow, buybacks, and consistent dividend hikes. Despite recent volume weakness and short-term underperformance versus the S&P 500, the current pullback is viewed as a buy-the-dip opportunity. Read the full article on Seeking Alpha
NXPI
US$227.99
NXP Semiconductors
7D
-3.6%
1Y
1.8%