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U.S. Application Software Industry Analysis

UpdatedApr 12, 2026
DataAggregated Company Financials
Companies361
  • 7D-8.3%
  • 3M-31.5%
  • 1Y-16.3%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 8.3%, driven by a pullback from Palantir Technologies of 14%. Meanwhile, Strategy actually outperformed within the industry, gaining 7.4% in the last week. Overall the industry is down 16% in 12 months. Looking forward, earnings are forecast to grow by 26% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Apr 2026US$1.5tUS$235.4bUS$19.9b32.6x77x6.5x
Tue, 10 Mar 2026US$1.9tUS$235.8bUS$20.2b27.3x91.9x7.9x
Thu, 05 Feb 2026US$1.8tUS$232.0bUS$34.6b25.7x52.2x7.8x
Sat, 03 Jan 2026US$2.3tUS$228.4bUS$39.0b29.8x57.9x9.9x
Mon, 01 Dec 2025US$2.2tUS$226.6bUS$38.0b28.5x57.1x9.6x
Wed, 29 Oct 2025US$2.4tUS$221.9bUS$32.0b31.8x76.3x11x
Fri, 26 Sep 2025US$2.4tUS$221.3bUS$31.9b35.2x75.5x10.9x
Sun, 24 Aug 2025US$2.3tUS$218.3bUS$30.7b33.6x74x10.4x
Tue, 22 Jul 2025US$2.3tUS$213.3bUS$16.5b45.4x138.3x10.7x
Thu, 19 Jun 2025US$2.2tUS$216.0bUS$16.8b40.5x129x10.1x
Sat, 17 May 2025US$2.2tUS$210.5bUS$17.1b33.4x127x10.3x
Mon, 14 Apr 2025US$1.8tUS$209.2bUS$21.4b26.9x83.5x8.5x
Wed, 12 Mar 2025US$1.9tUS$211.1bUS$19.7b30.6x93.9x8.8x
Fri, 07 Feb 2025US$2.3tUS$207.0bUS$20.2b43.9x111.7x10.9x
Sun, 05 Jan 2025US$2.1tUS$206.7bUS$20.1b40.6x106.9x10.4x
Tue, 03 Dec 2024US$2.2tUS$205.7bUS$19.6b42.4x111.1x10.6x
Thu, 31 Oct 2024US$1.9tUS$201.8bUS$19.1b36.8x98.6x9.3x
Sat, 28 Sep 2024US$1.8tUS$201.9bUS$18.9b38.7x94.2x8.8x
Mon, 26 Aug 2024US$1.8tUS$201.1bUS$17.3b36.8x101x8.7x
Wed, 24 Jul 2024US$1.7tUS$197.5bUS$16.8b41.9x103.5x8.8x
Fri, 21 Jun 2024US$1.7tUS$197.6bUS$16.4b40.7x100.9x8.4x
Sun, 19 May 2024US$1.7tUS$194.3bUS$14.1b45.4x122.4x8.9x
Tue, 16 Apr 2024US$1.7tUS$195.3bUS$11.3b45x151.1x8.8x
Thu, 14 Mar 2024US$1.8tUS$199.2bUS$11.4b49.8x162x9.3x
Sat, 10 Feb 2024US$1.8tUS$194.2bUS$5.0b48.9x364.7x9.4x
Mon, 08 Jan 2024US$1.7tUS$209.4bUS$2.6b47.7x671.8x8.2x
Wed, 06 Dec 2023US$1.7tUS$208.5bUS$2.0b48x877.7x8.3x
Fri, 03 Nov 2023US$1.5tUS$204.9b-US$380,443,557.0048.7x-3964.5x7.4x
Sun, 01 Oct 2023US$1.5tUS$203.9b-US$1,455,107,608.0045.8x-1061.4x7.6x
Tue, 29 Aug 2023US$1.6tUS$201.6b-US$3,374,323,336.0045.1x-462.7x7.7x
Thu, 27 Jul 2023US$1.6tUS$198.9b-US$8,003,419,986.0047.9x-200.5x8.1x
Sat, 24 Jun 2023US$1.5tUS$198.3b-US$5,986,735,380.0042.9x-248x7.5x
Mon, 22 May 2023US$1.4tUS$196.3b-US$6,996,900,452.0038.4x-198.7x7.1x
Wed, 19 Apr 2023US$1.4tUS$196.7b-US$4,539,180,023.0042.1x-308x7.1x
Price to Earnings Ratio

-308x


Total Market Cap: US$1.4tTotal Earnings: -US$4,539,180,023.00Total Revenue: US$196.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Application Software Industry Price to Earnings3Y Average 24.2x202420252026
Current Industry PE
  • Investors are optimistic on the American Application Software industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 77.0x which is higher than its 3-year average PE of 24.2x.
  • The 3-year average PS ratio of 9.0x is higher than the industry's current PS ratio of 6.5x.
Past Earnings Growth
  • Total earnings for the Application Software industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 6.2% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Comparison

How does U.S. Application Software compare with similar industries?

US Market3.38%
Tech4.52%
Software-4.04%
Application Software-8.34%
Systems Software-2.11%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MSTR StrategyUS$128.647.4%
+US$3.1b		-57.1%PS93.3x
HUT Hut 8US$66.0937.4%
+US$2.0b		443.5%PS31.2x
WULF TeraWulfUS$18.8726.8%
+US$1.7b		692.9%PS47.5x
APP AppLovinUS$391.381.3%
+US$1.7b		56.6%PE38.5x
IREN IRENUS$39.3213.1%
+US$1.5b		598.4%PE33.5x

Latest News

DDOG
US$105.37
Datadog
7D
-12.5%
1Y
14.5%
INTU
US$350.94
Intuit
7D
-16.9%
1Y
-40.2%
FICO
US$922.37
Fair Isaac
7D
-15.4%
1Y
-51.2%
ADSK
US$218.45
Autodesk
7D
-8.2%
1Y
-15.5%

ADSK: Margin Expansion And Software Multiple Reset Will Drive Future Rebound

Narrative Update The analyst price target for Autodesk is now set at $331, with recent revisions clustering in the $285 to $350 range as analysts balance solid recent results, FY27 guidance commentary, and sector wide software multiple compression when framing upside and risk. Analyst Commentary Recent research paints a mixed picture for Autodesk, with most firms trimming price targets yet keeping positive ratings, and a later downgrade at Citi underscoring growing debate around risk and reward at current levels.
ADBE
US$225.35
Adobe
7D
-7.2%
1Y
-36.1%

Adobe: Scared Money Don't Make Money, Reiterate Buy

Apr 10
APP
US$391.38
AppLovin
7D
1.3%
1Y
56.6%
WULF
US$18.87
TeraWulf
7D
26.8%
1Y
692.9%
IDCC
US$352.27
InterDigital
7D
12.6%
1Y
74.5%
HUT
US$66.09
Hut 8
7D
37.4%
1Y
443.5%

Hut 8 Corp. (HUT): The "Power Sovereign" Scaling a $7 Billion AI Infrastructure Pivot

Hut 8 Corp. (HUT) , one of North America’s largest digital asset miners and infrastructure pioneers, closed the April 8, 2026, trading session at $61.43 USD on the NASDAQ.
WDAY
US$112.50
Workday
7D
-14.9%
1Y
-50.3%

WDAY: Returning Leader And AI Focus Will Shape Post Guidance Reset Phase

Workday's analyst price targets have been cut sharply, with several firms trimming ranges by roughly $50 to $125 and citing slower sales trends, revised long term guidance, heavier AI investment weighing on margins, and added uncertainty around the CEO transition as key reasons. Analyst Commentary Street research around Workday is split between those who see the recent reset as an opportunity and those who view it as a sign that execution risk and growth uncertainty are rising.
CIFR
US$16.53
Cipher Digital
7D
28.9%
1Y
583.1%

Cipher Digital's $9B Pivot To AI Infrastructure Is Still Undervalued

Apr 07
IREN
US$39.32
IREN
7D
13.1%
1Y
598.4%
PLTR
US$128.06
Palantir Technologies
7D
-13.7%
1Y
44.6%

Why Palantir's Best Days May Still Be Ahead

Apr 06
CRM
US$164.96
Salesforce
7D
-11.9%
1Y
-35.3%

CRM: Debt-Funded Buybacks And AI Disruption Fears Will Shape Risk Balance

Analysts have reduced their Salesforce price targets, with several cuts of $50 to $100 or more, reflecting softer organic growth expectations, sector-wide multiple compression, and increased scrutiny of how quickly Agentforce-driven demand can translate into faster revenue growth. Analyst Commentary Recent research highlights a split view on Salesforce, with many firms cutting price targets while still acknowledging potential upside from Agentforce and other AI driven products.
RIOT
US$16.60
Riot Platforms
7D
29.1%
1Y
135.1%

RIOT: Power First Data Center Shift Will Drive Future AI Upside

Narrative Update Analysts have trimmed their average price targets for Riot Platforms by a few dollars to reflect reduced Bitcoin mining value, weaker recent mining results and sector multiple compression. At the same time, they note the company’s shift toward higher value data center and AI infrastructure, supported by deals such as its AMD partnership and its growing focus on high performance computing demand.
MSTR
US$128.64
Strategy
7D
7.4%
1Y
-57.1%