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U.S. Tech Hardware Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies50
  • 7D-3.1%
  • 3M-5.9%
  • 1Y23.5%
  • YTD-5.0%

Over the last 7 days, the Tech Hardware industry has dropped 3.1%, driven by Apple declining 3.8%. Meanwhile, Sandisk actually outperformed within the industry, gaining 12% in the last week. Over the past 12 months, the industry was up 24%. Looking forward, earnings are forecast to grow by 9.6% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 17 Mar 2026US$4.1tUS$556.1bUS$122.6b23.4x33.1x7.3x
Thu, 12 Feb 2026US$4.4tUS$552.8bUS$121.6b28.9x36.2x8x
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
Price to Earnings Ratio

26.6x


Total Market Cap: US$2.6tTotal Earnings: US$97.0bTotal Revenue: US$460.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 33x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Tech 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 33.0x.
  • The industry is trading close to its 3-year average PS ratio of 7.0x.
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 Market-2.40%
Tech-2.42%
Tech Hardware-3.13%
Tech Hardware Storage and Peripherals-3.13%
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$661.6212.4%
+US$10.8b		1,088.9%PS10.9x
WDC Western DigitalUS$272.293.9%
+US$3.5b		508.5%PE23.4x
DELL Dell TechnologiesUS$151.623.5%
+US$3.4b		55.3%PE16.9x
STX Seagate Technology HoldingsUS$383.712.5%
+US$2.1b		323.9%PE43.6x
OSS One Stop SystemsUS$10.0813.3%
+US$28.9m		239.4%PS4.1x

Latest News

TBCH
US$13.27
Turtle Beach
7D
-0.5%
1Y
-2.9%

TBCH: Weaker Gaming Accessory Demand Will Pressure Near Term Earnings Power

Analysts have trimmed our Turtle Beach fair value estimate from $13.50 to $11.00, as lower price targets and softer near term gaming accessory demand more than offset higher projected revenue growth, margin improvement, and a reduced future P/E multiple in their updated models. Analyst Commentary Recent research updates show that several bearish analysts are trimming their expectations for Turtle Beach, even as they maintain generally positive ratings on the shares.
STX
US$383.71
Seagate Technology Holdings
7D
2.5%
1Y
323.9%
GPGI
US$16.51
GPGI
7D
-20.0%
1Y
48.2%
KODK
US$6.97
Eastman Kodak
7D
2.0%
1Y
-0.1%
INFQ
US$10.08
Infleqtion
7D
-13.6%
1Y
n/a
HPE
US$21.58
Hewlett Packard Enterprise
7D
-1.1%
1Y
36.2%
OSS
US$10.08
One Stop Systems
7D
13.3%
1Y
239.4%

OSS: Bressner Sale Cash Will Test Future M&A Execution Risk

Analysts have raised their price target on One Stop Systems to $9 from $8.50, citing the sale of Bressner Technology for $22.4 million and the potential use of the proceeds for future M&A as the main reasons for this revised outlook. Analyst Commentary Analysts are focusing on how the Bressner Technology sale and the updated $9 price target fit into One Stop Systems' next phase, especially around capital allocation and future deal execution.
WDC
US$272.29
Western Digital
7D
3.9%
1Y
508.5%
IONQ
US$32.98
IonQ
7D
-8.1%
1Y
32.3%

IonQ: Exceptional Technology but Valuation Far Ahead of Financial Reality

Artificial intelligence has dominated technology markets in recent years and driven enormous investment into computing infrastructure. If AI represents the current frontier of computing, quantum computing could represent the next major paradigm shift.
DELL
US$151.62
Dell Technologies
7D
3.5%
1Y
55.3%
PSTG
US$61.50
Everpure
7D
-2.2%
1Y
21.3%
NTAP
US$98.66
NetApp
7D
-1.9%
1Y
5.8%

NTAP: Flash And Public Cloud Mix Will Offset Rising Memory Costs

Analysts have nudged their blended price target for NetApp lower to around $118, reflecting recent cuts from firms citing rising memory component costs and pressure on product gross margins, partially offset by expectations for ongoing growth in flash and public cloud revenue. Analyst Commentary Recent research on NetApp reflects a mixed setup, with price targets clustered around the low to mid US$100s and attention firmly on memory costs, product margins and the balance between traditional hardware and higher growth flash and cloud offerings.
AAPL
US$250.12
Apple
7D
-3.8%
1Y
16.9%

Apple will shine with a 6% revenue growth in the next 5 years

Apple Inc. (AAPL) – Investment Narrative Company Overview Apple Inc.
SMCI
US$30.75
Super Micro Computer
7D
-3.8%
1Y
-26.7%

SMCI: AI Data Center Partnerships Will Support Repricing Into 2026

Analysts have made a modest adjustment to their price targets on Super Micro Computer, with changes clustering in a narrow $2 to $11 range as they factor in updated views on AI related demand, valuation, and sector positioning for 2026. Analyst Commentary Recent Super Micro price target moves sit within a relatively tight band, but the tone of the research still gives you useful clues about how the Street is thinking about valuation, execution, and growth into 2026.
SNDK
US$661.62
Sandisk
7D
12.4%
1Y
1,088.9%
BGIN
US$2.95
Bgin Blockchain
7D
5.4%
1Y
n/a

Bgin Blockchain IPOs Into A Bear Market

Nov 18