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U.S. Tech Hardware Industry Analysis

UpdatedJan 10, 2026
DataAggregated Company Financials
Companies46
  • 7D-3.7%
  • 3M6.1%
  • 1Y10.5%
  • YTD-3.7%

Over the last 7 days, the Tech Hardware industry has dropped 3.7%, driven by Apple declining 4.3%. In contrast, Sandisk has gained 37%. This takes the industry's 12 month performance to a gain of 10%. As for the next few years, earnings are expected to grow by 9.1% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 10 Jan 2026US$4.0tUS$514.0bUS$111.8b26.4x36.1x7.9x
Mon, 08 Dec 2025US$4.3tUS$514.1bUS$111.9b26.1x38.8x8.4x
Wed, 05 Nov 2025US$4.2tUS$513.1bUS$114.4b23.4x36.8x8.2x
Fri, 03 Oct 2025US$4.0tUS$504.4bUS$100.3b28.5x39.9x7.9x
Sun, 31 Aug 2025US$3.6tUS$502.9bUS$100.5b21.6x35.9x7.2x
Tue, 29 Jul 2025US$3.3tUS$500.2bUS$98.6b20x34x6.7x
Thu, 26 Jun 2025US$3.1tUS$500.2bUS$98.5b18.2x31.8x6.3x
Sat, 24 May 2025US$3.1tUS$499.7bUS$99.9b16.5x31.4x6.3x
Mon, 21 Apr 2025US$3.1tUS$494.0bUS$101.2b11.7x30.2x6.2x
Wed, 19 Mar 2025US$3.3tUS$494.0bUS$101.2b15.6x32.9x6.7x
Fri, 14 Feb 2025US$3.7tUS$479.7bUS$100.5b20.8x36.7x7.7x
Sun, 12 Jan 2025US$3.7tUS$473.9bUS$97.2b23.2x38.2x7.8x
Tue, 10 Dec 2024US$3.8tUS$473.9bUS$97.2b22.5x39.3x8x
Thu, 07 Nov 2024US$3.5tUS$472.6bUS$98.6b16.3x35.4x7.4x
Sat, 05 Oct 2024US$3.6tUS$466.0bUS$106.7b17.9x33.3x7.6x
Mon, 02 Sep 2024US$3.6tUS$465.4bUS$106.6b21.7x33.8x7.7x
Wed, 31 Jul 2024US$3.5tUS$456.9bUS$103.3b25.6x33.8x7.6x
Fri, 28 Jun 2024US$3.4tUS$457.1bUS$103.3b26.9x33.2x7.5x
Sun, 26 May 2024US$3.1tUS$456.7bUS$103.3b28.1x29.7x6.7x
Tue, 23 Apr 2024US$2.7tUS$457.8bUS$102.9b23.4x26x5.8x
Thu, 21 Mar 2024US$2.9tUS$457.8bUS$102.8b27.3x28.3x6.3x
Sat, 17 Feb 2024US$3.0tUS$458.7bUS$102.6b27.9x29x6.5x
Mon, 15 Jan 2024US$3.0tUS$454.7bUS$98.6b27.7x30.2x6.5x
Wed, 13 Dec 2023US$3.1tUS$455.3bUS$98.5b26.3x31.7x6.9x
Fri, 10 Nov 2023US$2.9tUS$452.4bUS$97.0b20.8x30.2x6.5x
Sun, 08 Oct 2023US$2.9tUS$453.8bUS$95.1b23.9x30.1x6.3x
Tue, 05 Sep 2023US$3.1tUS$453.9bUS$95.1b23.3x32.1x6.7x
Thu, 03 Aug 2023US$3.1tUS$454.6bUS$94.7b32.3x33.2x6.9x
Sat, 01 Jul 2023US$3.1tUS$456.4bUS$95.7b32.3x32.8x6.9x
Mon, 29 May 2023US$2.8tUS$456.3bUS$95.6b29.3x29.7x6.2x
Wed, 26 Apr 2023US$2.7tUS$460.5bUS$97.1b24.3x27.4x5.8x
Fri, 24 Mar 2023US$2.6tUS$460.6bUS$97.0b24.6x26.6x5.6x
Sun, 19 Feb 2023US$2.5tUS$460.1bUS$97.3b25.4x25.6x5.4x
Tue, 17 Jan 2023US$2.2tUS$467.8bUS$102.0b22.8x21.6x4.7x
Price to Earnings Ratio

21.6x


Total Market Cap: US$2.2tTotal Earnings: US$102.0bTotal Revenue: US$467.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 32.3x202420252026
Current Industry PE
  • Investors are optimistic on the American Tech industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 36.1x which is higher than its 3-year average PE of 32.3x.
  • The 3-year average PS ratio of 6.9x is lower than the industry's current PS ratio of 7.9x.
Past Earnings Growth
  • The earnings for companies in the Tech industry have grown 3.1% per year over the last three years.
  • Revenues for these companies have grown 3.2% 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 Market1.82%
Tech0.15%
Tech Hardware-3.73%
Tech Hardware Storage and Peripherals-3.73%
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
SNDK SandiskUS$377.4137.1%
+US$15.0b		n/aPS7.1x
WDC Western DigitalUS$200.466.8%
+US$4.4b		219.1%PE26.4x
STX Seagate Technology HoldingsUS$304.015.7%
+US$3.6b		242.1%PE38.7x
IONQ IonQUS$49.455.7%
+US$949.5m		53.0%PS219.4x
CMPO CompoSecureUS$22.1718.7%
+US$442.4m		59.7%PS17.4x

Latest News

WDC
US$200.46
Western Digital
7D
6.8%
1Y
219.1%
AAPL
US$259.37
Apple
7D
-4.3%
1Y
9.5%
SMCI
US$30.16
Super Micro Computer
7D
-2.6%
1Y
-7.5%

SMCI: AI Server Order Wins Will Support Longer Term Margin Recovery

Analysts have made a modest upward adjustment to their Super Micro Computer price targets, with changes ranging from US$3 to US$4 per share. They are weighing recent Q1 revenue timing issues against strong new AI server orders and the potential for longer term margin recovery in an increasingly competitive market.
STX
US$304.01
Seagate Technology Holdings
7D
5.7%
1Y
242.1%
CMPO
US$22.17
CompoSecure
7D
18.7%
1Y
59.7%
DELL
US$120.62
Dell Technologies
7D
-5.6%
1Y
5.1%
HPQ
US$21.47
HP
7D
-2.9%
1Y
-35.3%
NTAP
US$105.39
NetApp
7D
-1.0%
1Y
-9.4%

NTAP: Margin Strength And Flash Plus Cloud Mix Will Support Upside

Narrative Update Analysts have lifted their blended price target for NetApp to a range of about $120 to $134, reflecting confidence in the company’s gross margins and the performance of its all flash array and public cloud offerings. Analyst Commentary Recent research updates show analysts focusing heavily on NetApp's profitability profile and the mix of its storage offerings, with price targets now clustered between about $120 and $134.
HPE
US$22.17
Hewlett Packard Enterprise
7D
-8.3%
1Y
0.4%

HPE: Hardware Earnings Risk Will Test Constructive View On Future Upside

Narrative Update Analysts lifted their fair value estimate for Hewlett Packard Enterprise to $31.00 from $30.00, reflecting recent price target increases and a generally more constructive stance on the shares, alongside some caution around hardware earnings risk. Analyst Commentary Recent research on Hewlett Packard Enterprise sends a mixed but generally constructive signal, with several bullish analysts adjusting their views alongside one high profile downgrade that highlights hardware earnings risk heading into 2026.
PSTG
US$66.98
Pure Storage
7D
-2.9%
1Y
3.5%

PSTG: AI Workload Demand And Buybacks Will Support Higher Market Confidence

Analysts have lifted their fair value estimate for Pure Storage from US$89.34 to US$120.00, reflecting updated expectations for revenue growth, profit margins and future P/E, supported by recent price target increases and commentary around AI related demand. Analyst Commentary Recent research on Pure Storage highlights a mix of optimism around AI related demand and some caution around valuation and customer mix.
DBD
US$67.40
Diebold Nixdorf
7D
5.4%
1Y
64.1%

DBD: Buybacks Will Support Higher Future Earnings Power

Analysts have lifted their price target on Diebold Nixdorf to US$77.00 from US$77.00, reflecting slightly higher assumptions for revenue growth, profit margins and a modestly lower future P/E multiple in their updated models. What's in the News Diebold Nixdorf reaffirmed its 2025 earnings guidance, with total company revenue described as trending toward the higher end of guidance ranges and reported revenue at 2% year over year and 3% sequentially, supported by retail business and contributions from bank operations (Corporate guidance).
SNDK
US$377.41
Sandisk
7D
37.1%
1Y
n/a
KODK
US$7.80
Eastman Kodak
7D
-7.6%
1Y
26.0%
QUBT
US$11.72
Quantum Computing
7D
6.4%
1Y
30.5%
IONQ
US$49.45
IonQ
7D
5.7%
1Y
53.0%
BGIN
US$3.17
Bgin Blockchain
7D
16.4%
1Y
n/a

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