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U.S. Tech Hardware Industry Analysis

UpdatedSep 13, 2025
DataAggregated Company Financials
Companies47
  • 7D-1.8%
  • 3M20.1%
  • 1Y6.5%
  • YTD-2.7%

Over the last 7 days, the Tech Hardware industry has dropped 1.8%, driven by a pullback from Apple of 2.3%. Meanwhile, IonQ actually outperformed within the industry, gaining 33% in the last week. In the past year, the industry has gained 6.5%. Earnings are forecast to grow by 9.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 13 Sep 2025US$3.6tUS$504.4bUS$100.3b25.5x35.9x7.1x
Mon, 11 Aug 2025US$3.6tUS$502.7bUS$100.7b18.9x35.3x7.1x
Wed, 09 Jul 2025US$3.3tUS$499.8bUS$98.6b19.9x33.3x6.6x
Fri, 06 Jun 2025US$3.2tUS$500.2bUS$98.5b17.9x32.1x6.3x
Sun, 04 May 2025US$3.2tUS$498.6bUS$102.2b13.4x31.1x6.4x
Tue, 01 Apr 2025US$3.4tUS$494.1bUS$101.2b14.1x33.4x6.8x
Thu, 27 Feb 2025US$3.8tUS$492.6bUS$100.7b21.4x38.2x7.8x
Sat, 25 Jan 2025US$3.5tUS$473.9bUS$97.2b24.3x36.1x7.4x
Mon, 23 Dec 2024US$4.0tUS$473.9bUS$97.2b25.8x40.9x8.4x
Wed, 20 Nov 2024US$3.6tUS$472.5bUS$96.4b23.1x36.9x7.5x
Fri, 18 Oct 2024US$3.7tUS$466.0bUS$106.7b20x34.3x7.8x
Sun, 15 Sep 2024US$3.5tUS$466.0bUS$106.7b22.2x32.8x7.5x
Tue, 13 Aug 2024US$3.4tUS$465.1bUS$106.7b23.5x31.9x7.3x
Thu, 11 Jul 2024US$3.7tUS$457.1bUS$103.3b28.1x35.5x8x
Sat, 08 Jun 2024US$3.1tUS$457.1bUS$103.2b25.8x30.4x6.9x
Mon, 06 May 2024US$3.0tUS$456.7bUS$103.3b25.5x28.6x6.5x
Wed, 03 Apr 2024US$2.8tUS$457.8bUS$102.9b24.4x27.1x6.1x
Fri, 01 Mar 2024US$2.9tUS$458.7bUS$102.4b27.7x28.5x6.4x
Sun, 28 Jan 2024US$3.1tUS$454.4bUS$98.6b30.7x31.3x6.8x
Tue, 26 Dec 2023US$3.1tUS$455.3bUS$98.5b26.6x31.6x6.8x
Thu, 23 Nov 2023US$3.1tUS$456.1bUS$98.1b22.1x31.3x6.7x
Sat, 21 Oct 2023US$2.8tUS$453.8bUS$95.1b20.5x29.3x6.1x
Mon, 18 Sep 2023US$2.8tUS$453.9bUS$95.1b20.6x29.7x6.2x
Wed, 16 Aug 2023US$2.9tUS$454.0bUS$95.2b25.5x30.1x6.3x
Fri, 14 Jul 2023US$3.1tUS$456.4bUS$95.7b31.8x32.3x6.8x
Sun, 11 Jun 2023US$2.9tUS$456.4bUS$95.7b30.2x30.7x6.4x
Tue, 09 May 2023US$2.8tUS$458.1bUS$96.3b21.5x29.1x6.1x
Thu, 06 Apr 2023US$2.7tUS$460.6bUS$97.1b24.1x27.4x5.8x
Sat, 04 Mar 2023US$2.5tUS$460.8bUS$97.2b25.1x25.3x5.3x
Mon, 30 Jan 2023US$2.4tUS$468.0bUS$102.8b23.5x23.2x5.1x
Wed, 28 Dec 2022US$2.1tUS$467.8bUS$102.0b22.1x20.9x4.6x
Fri, 25 Nov 2022US$2.5tUS$467.0bUS$104.4b18x23.7x5.3x
Sun, 23 Oct 2022US$2.4tUS$460.8bUS$105.2b14.1x23.1x5.3x
Tue, 20 Sep 2022US$2.6tUS$461.4bUS$105.4b15.5x24.2x5.5x
Price to Earnings Ratio

24.2x


Total Market Cap: US$2.6tTotal Earnings: US$105.4bTotal Revenue: US$461.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 30.6x202320242025
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 35.9x which is higher than its 3-year average PE of 30.6x.
  • The industry is trading close to its 3-year average PS ratio of 6.5x.
Past Earnings Growth
  • The earnings for companies in the Tech industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 3.0% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the U.S. Tech industry?

US Market1.69%
Tech3.61%
Tech Hardware-1.84%
Tech Hardware Storage and Peripherals-1.84%
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
IONQ IonQUS$55.6133.0%
+US$4.1b		616.6%PS316.1x
SMCI Super Micro ComputerUS$45.0011.4%
+US$2.7b		-1.6%PE25.5x
SNDK SandiskUS$86.1325.6%
+US$2.6b		n/aPS1.7x
WDC Western DigitalUS$97.666.1%
+US$1.9b		50.2%PE21.2x
STX Seagate Technology HoldingsUS$195.994.2%
+US$1.7b		91.9%PE28.4x

Latest News

IONQ
US$55.61
IonQ
7D
33.0%
1Y
616.6%
PSTG
US$82.30
Pure Storage
7D
3.9%
1Y
68.3%
SMCI
US$45.00
Super Micro Computer
7D
11.4%
1Y
-1.6%
STX
US$195.99
Seagate Technology Holdings
7D
4.2%
1Y
91.9%
ALOT
US$10.02
AstroNova
7D
-12.1%
1Y
-32.7%
HPE
US$24.73
Hewlett Packard Enterprise
7D
5.1%
1Y
44.2%
AAPL
US$234.07
Apple
7D
-2.3%
1Y
5.2%
NTAP
US$124.00
NetApp
7D
4.4%
1Y
5.7%
WDC
US$97.66
Western Digital
7D
6.1%
1Y
50.2%

AI And Hyperscaler Demand Will Expand Storage Opportunities

Analysts have raised Western Digital's price target to $89.14, driven by accelerating AI-led storage demand, improving fundamentals, and greater confidence in the company’s technology roadmap, partially offset by dilution from convertible notes. Analyst Commentary Bullish analysts cite accelerating AI-driven demand for storage, forecasting robust fundamentals and industry-wide tailwinds into 2026.
DELL
US$125.04
Dell Technologies
7D
0.2%
1Y
9.4%
SNDK
US$86.13
Sandisk
7D
25.6%
1Y
n/a

Sandisk Corporation (NASDAQ:SNDK) Stocks Shoot Up 49% But Its P/S Still Looks Reasonable

Sep 05
Sandisk Corporation (NASDAQ:SNDK) Stocks Shoot Up 49% But Its P/S Still Looks Reasonable
HPQ
US$27.97
HP
7D
-4.7%
1Y
-16.1%
DBD
US$59.26
Diebold Nixdorf
7D
-1.1%
1Y
37.9%
IMMR
US$6.81
Immersion
7D
-3.9%
1Y
-26.6%
XRX
US$3.68
Xerox Holdings
7D
-6.1%
1Y
-64.7%
FOXX
US$4.75
Foxx Development Holdings
7D
-18.0%
1Y
-59.0%