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U.S. Tech Hardware Industry Analysis

UpdatedApr 25, 2026
DataAggregated Company Financials
Companies49
  • 7D1.0%
  • 3M13.2%
  • 1Y40.8%
  • YTD5.6%

The Tech Hardware is pretty flat in the last 7 days, but Dell Technologies has stood out, gaining 9.9%. As for the the longer term, the industry is up 41% over the past 12 months. As for the next few years, earnings are expected to grow by 10% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 25 Apr 2026US$4.6tUS$556.1bUS$122.6b31.5x37.1x8.2x
Mon, 23 Mar 2026US$4.0tUS$556.1bUS$122.6b25.2x33x7.3x
Wed, 18 Feb 2026US$4.2tUS$552.9bUS$121.7b27.6x34.1x7.5x
Fri, 16 Jan 2026US$4.1tUS$514.0bUS$111.8b29.2x36.5x7.9x
Sun, 14 Dec 2025US$4.3tUS$514.1bUS$111.9b24.3x38.7x8.4x
Tue, 11 Nov 2025US$4.2tUS$512.7bUS$113.1b27.7x37.2x8.2x
Thu, 09 Oct 2025US$4.0tUS$504.4bUS$100.3b30.3x40.1x8x
Sat, 06 Sep 2025US$3.7tUS$504.4bUS$100.3b22.9x37.2x7.4x
Mon, 04 Aug 2025US$3.2tUS$502.4bUS$101.0b18.4x31.2x6.3x
Wed, 02 Jul 2025US$3.1tUS$500.2bUS$98.5b19.6x31.9x6.3x
Fri, 30 May 2025US$3.1tUS$499.8bUS$99.9b17.3x31.2x6.2x
Sun, 27 Apr 2025US$3.3tUS$494.1bUS$101.2b13x32.1x6.6x
Tue, 25 Mar 2025US$3.4tUS$494.0bUS$101.2b17x33.5x6.9x
Thu, 20 Feb 2025US$3.8tUS$486.7bUS$100.5b23.5x38x7.9x
Sat, 18 Jan 2025US$3.6tUS$473.9bUS$97.2b23.8x36.7x7.5x
Mon, 16 Dec 2024US$3.9tUS$473.9bUS$97.2b27.9x40x8.2x
Wed, 13 Nov 2024US$3.5tUS$472.6bUS$96.4b22.8x36.4x7.4x
Fri, 11 Oct 2024US$3.6tUS$466.0bUS$106.7b19.9x33.9x7.8x
Sun, 08 Sep 2024US$3.5tUS$466.1bUS$106.6b20.1x32.5x7.4x
Tue, 06 Aug 2024US$3.5tUS$461.9bUS$105.9b24.1x32.8x7.5x
Thu, 04 Jul 2024US$3.6tUS$457.1bUS$103.3b27.2x34.4x7.8x
Sat, 01 Jun 2024US$3.1tUS$456.8bUS$103.3b28.6x30x6.8x
Mon, 29 Apr 2024US$2.8tUS$458.2bUS$103.4b24.1x26.7x6x
Wed, 27 Mar 2024US$2.8tUS$457.8bUS$102.9b26x27.2x6.1x
Fri, 23 Feb 2024US$2.9tUS$458.7bUS$102.6b28.2x28.6x6.4x
Sun, 21 Jan 2024US$3.1tUS$454.7bUS$98.6b28.3x31.1x6.7x
Tue, 19 Dec 2023US$3.2tUS$455.3bUS$98.5b29.4x32.2x7x
Thu, 16 Nov 2023US$3.0tUS$456.1bUS$98.2b19.6x30.6x6.6x
Sat, 14 Oct 2023US$2.9tUS$453.8bUS$95.1b23.6x30.4x6.4x
Mon, 11 Sep 2023US$2.9tUS$453.9bUS$95.1b23.2x30.3x6.3x
Wed, 09 Aug 2023US$2.9tUS$453.5bUS$95.2b32.1x30.6x6.4x
Fri, 07 Jul 2023US$3.1tUS$456.4bUS$95.7b32x32.4x6.8x
Sun, 04 Jun 2023US$2.9tUS$456.4bUS$95.7b30.2x30.6x6.4x
Tue, 02 May 2023US$2.8tUS$460.6bUS$97.1b21.9x28.3x6x
Price to Earnings Ratio

28.3x


Total Market Cap: US$2.8tTotal Earnings: US$97.1bTotal Revenue: US$460.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 33.2x202420252026
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 37.1x which is higher than its 3-year average PE of 33.2x.
  • The 3-year average PS ratio of 7.1x is lower than the industry's current PS ratio of 8.2x.
Past Earnings Growth
  • The earnings for companies in the Tech industry have grown 8.1% per year over the last three years.
  • Revenues for these companies have grown 6.5% 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 Market0.35%
Tech3.26%
Tech Hardware0.96%
Tech Hardware Storage and Peripherals0.96%
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
DELL Dell TechnologiesUS$216.099.9%
+US$13.6b		127.7%PE23.7x
AAPL AppleUS$271.060.3%
+US$12.2b		29.5%PE33.8x
WDC Western DigitalUS$404.008.5%
+US$10.7b		890.7%PE34.7x
SNDK SandiskUS$989.907.5%
+US$10.2b		2,913.4%PS16.4x
STX Seagate Technology HoldingsUS$586.257.0%
+US$8.6b		608.9%PE66.7x

Latest News

AAPL
US$271.06
Apple
7D
0.3%
1Y
29.5%
STX
US$586.25
Seagate Technology Holdings
7D
7.0%
1Y
608.9%
NTAP
US$108.71
NetApp
7D
4.0%
1Y
22.9%

NTAP: Flash And Cloud Exposure Will Counter Higher Memory Cost Pressures

NetApp's analyst price target has edged lower by about $0.80 to roughly $117, as analysts factor in concerns around higher memory component costs and potential pressure on product gross margins, while still seeing some support from flash and public cloud exposure. Analyst Commentary Recent Street research on NetApp points to a mixed setup, with most firms trimming price targets and highlighting both execution strengths and margin risks tied to memory costs.
HPE
US$28.16
Hewlett Packard Enterprise
7D
6.5%
1Y
73.4%
QUBT
US$8.94
Quantum Computing
7D
-6.6%
1Y
25.4%
GPGI
US$16.06
GPGI
7D
-6.2%
1Y
48.8%

GPGI: Future Upside Will Rely On Credibility Versus Short Seller Allegations

Analysts have kept their $24.33 price target for GPGI broadly unchanged, reflecting only minor tweaks to the discount rate and forward P/E assumptions rather than any shift in the core outlook. What's in the News Jehoshaphat Research disclosed a short position in GPGI, calling the company a "fundamentally flawed financial scheme" and claiming key metrics and management projections are misleading due to what it describes as a "bizarre" incentive structure (Periodicals).
HPQ
US$19.79
HP
7D
-0.5%
1Y
-21.7%

HPQ: Rising Memory Costs Will Pressure Margins And Undercut 2026 Outlook

Analysts reduced the HP price target to $16 from $18, citing concerns about rising memory costs, softer PC demand, margin pressure, and leadership uncertainty, even as they update their models to reflect current valuation metrics such as a lower assumed future P/E. Analyst Commentary Recent research on HP centers on how higher memory costs, softer PC demand, and leadership changes could weigh on the company’s ability to hit its long term earnings and free cash flow targets.
DELL
US$216.09
Dell Technologies
7D
9.9%
1Y
127.7%

DELL: Once In A Generation Memory Cycle Will Erode AI Upside Potential

Analysts have adjusted the Dell Technologies price target to $115.93, reflecting updated views on discount rates, revenue growth, profit margin, and a lower future P/E following a series of recent target changes across the Street. Analyst Commentary Street research on Dell Technologies over recent months includes both optimistic and cautious voices, with several firms resetting their price targets as they reassess assumptions for earnings, AI related demand, and memory costs.
SNDK
US$989.90
Sandisk
7D
7.5%
1Y
2,913.4%

Sandisk: A High Beta Play For NAND Memory As AI Demand Surges

Apr 21
DBD
US$85.64
Diebold Nixdorf
7D
-3.5%
1Y
95.6%

DBD: Higher P/E Confidence And Risk Reset Will Drive Repricing Potential

Analysts have lifted their price targets on Diebold Nixdorf by $20 to reflect updated views on the company’s risk profile, profitability assumptions and P/E-based valuation. Analyst Commentary Recent research points to a reset in how the market may view Diebold Nixdorf, with higher price targets tied to updated assumptions on risk, profitability and P/E-based valuation.
IONQ
US$42.69
IonQ
7D
-7.4%
1Y
47.7%
CAN
US$0.52
Canaan
7D
-10.1%
1Y
-38.0%

CAN: Bitcoin Self Mining Expansion Will Support Future Upside Potential

Analysts have lowered their price target on Canaan to $2.05 from $2.12, reflecting updated views that incorporate higher assumed revenue growth, lower profit margin expectations, and a higher future P/E multiple. What's in the News Canaan reported unaudited production results for February 2026, with 86 Bitcoins mined for the month (company announcement).
P
US$71.43
Everpure
7D
6.7%
1Y
56.3%

PSTG: AI Storage Demand And Bookings Momentum Will Support Future Premium P/E

Everpure's analyst price target remains steady at $105, as analysts balance slightly higher modeled revenue growth and profit margin with updated views on future P/E and sector level memory cost and margin pressures reflected in recent Pure Storage research. Analyst Commentary Recent Street research on Pure Storage offers useful context for how investors may think about Everpure, especially around valuation, execution and sensitivity to memory costs.
INFQ
US$13.27
Infleqtion
7D
-23.8%
1Y
n/a

Quantum Sensing And Secure Timing Will Reshape Long Term Defense And Critical Infrastructure

Catalysts About Infleqtion Infleqtion develops neutral atom based quantum computing, sensing and timing systems for defense, space and commercial applications. What are the underlying business or industry changes driving this perspective?
WDC
US$404.00
Western Digital
7D
8.5%
1Y
890.7%

WDC: AI Storage Optimism And Rich P/E Will Drive Future Downside Risk

Western Digital's updated fair value estimate has shifted from $170 to about $227 per share, reflecting analysts' higher assessed revenue growth potential, a slightly adjusted margin outlook, and a richer future P/E assumption following a broad wave of Street price target increases. Analyst Commentary Recent Street research on Western Digital has been dominated by higher price targets and rating upgrades, including moves from large firms such as JPMorgan, Goldman Sachs, BofA, Citi and Wells Fargo.
VTIX
US$4.03
Virtuix Holdings
7D
-34.7%
1Y
n/a