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U.S. Tech Hardware Industry Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies46
  • 7D3.7%
  • 3M-3.9%
  • 1Y8.8%
  • YTD-3.7%

In the last week, the Tech Hardware industry is up 4.8%, with Apple up 4.7%. During this same period, the IonQ underperformed, falling 10%. This means that the industry has gained 9.9% over the past year. 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
Thu, 29 Jan 2026US$4.1tUS$514.0bUS$111.8b33.6x36.5x7.9x
Sat, 27 Dec 2025US$4.3tUS$514.1bUS$111.9b23.5x38.2x8.3x
Mon, 24 Nov 2025US$4.2tUS$512.7bUS$113.1b24x37.2x8.2x
Wed, 22 Oct 2025US$4.1tUS$504.4bUS$100.3b27x40.9x8.1x
Fri, 19 Sep 2025US$3.7tUS$504.4bUS$100.3b26x37.1x7.4x
Sun, 17 Aug 2025US$3.6tUS$502.8bUS$100.5b20.2x35.7x7.1x
Tue, 15 Jul 2025US$3.3tUS$500.2bUS$98.6b19.8x33.5x6.6x
Thu, 12 Jun 2025US$3.2tUS$500.2bUS$98.5b17.7x32.1x6.3x
Sat, 10 May 2025US$3.1tUS$499.4bUS$99.9b14.5x30.6x6.1x
Mon, 07 Apr 2025US$2.9tUS$494.0bUS$101.2b12.3x28.8x5.9x
Wed, 05 Mar 2025US$3.7tUS$492.7bUS$100.5b16.7x36.4x7.4x
Fri, 31 Jan 2025US$3.7tUS$475.0bUS$98.1b21.6x38x7.8x
Sun, 29 Dec 2024US$4.0tUS$473.9bUS$97.2b24.4x41.1x8.4x
Tue, 26 Nov 2024US$3.6tUS$472.7bUS$96.5b22.4x37.3x7.6x
Thu, 24 Oct 2024US$3.7tUS$466.0bUS$106.8b19.5x34.8x8x
Sat, 21 Sep 2024US$3.6tUS$466.0bUS$106.7b19.5x33.7x7.7x
Mon, 19 Aug 2024US$3.6tUS$465.1bUS$106.8b24.1x33.5x7.7x
Wed, 17 Jul 2024US$3.8tUS$457.1bUS$103.3b27.5x36.4x8.2x
Fri, 14 Jun 2024US$3.4tUS$457.1bUS$103.2b26.6x33.4x7.5x
Sun, 12 May 2024US$2.9tUS$456.7bUS$103.2b28x28.6x6.5x
Tue, 09 Apr 2024US$2.8tUS$457.8bUS$102.9b24.5x26.9x6.1x
Thu, 07 Mar 2024US$2.8tUS$457.8bUS$102.6b25.9x27.1x6.1x
Sat, 03 Feb 2024US$3.0tUS$458.7bUS$102.6b28.4x29.1x6.5x
Mon, 01 Jan 2024US$3.1tUS$455.3bUS$98.5b26.2x31.4x6.8x
Wed, 29 Nov 2023US$3.0tUS$456.1bUS$98.1b21.7x31x6.7x
Fri, 27 Oct 2023US$2.7tUS$453.7bUS$95.6b18.9x28.2x5.9x
Sun, 24 Sep 2023US$2.8tUS$453.9bUS$95.1b20.2x29.7x6.2x
Tue, 22 Aug 2023US$2.8tUS$454.0bUS$95.2b25.3x29.6x6.2x
Thu, 20 Jul 2023US$3.2tUS$456.4bUS$95.7b32.5x33x6.9x
Sat, 17 Jun 2023US$3.0tUS$456.4bUS$95.7b30.8x31.3x6.6x
Mon, 15 May 2023US$2.8tUS$456.5bUS$95.7b24.9x29.1x6.1x
Wed, 12 Apr 2023US$2.6tUS$460.6bUS$97.1b24.3x27x5.7x
Fri, 10 Mar 2023US$2.5tUS$460.5bUS$97.0b25x25.3x5.3x
Sun, 05 Feb 2023US$2.5tUS$466.9bUS$102.0b24.5x24.7x5.4x
Price to Earnings Ratio

24.7x


Total Market Cap: US$2.5tTotal Earnings: US$102.0bTotal Revenue: US$466.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 32.5x202420252026
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 36.0x which is higher than its 3-year average PE of 32.5x.
  • The 3-year average PS ratio of 6.9x is lower than the industry's current PS ratio of 7.8x.
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 3.3% 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 Market0.90%
Tech3.55%
Tech Hardware3.69%
Tech Hardware Storage and Peripherals3.69%
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
AAPL AppleUS$256.443.5%
+US$129.2b		7.1%PE33.6x
STX Seagate Technology HoldingsUS$442.9328.7%
+US$21.5b		345.7%PE56.3x
WDC Western DigitalUS$279.7015.6%
+US$12.9b		345.4%PE36.8x
SNDK SandiskUS$527.635.3%
+US$3.9b		n/aPS9.9x
DELL Dell TechnologiesUS$117.323.6%
+US$2.7b		13.8%PE14.9x

Latest News

WDC
US$279.70
Western Digital
7D
15.6%
1Y
345.4%
STX
US$442.93
Seagate Technology Holdings
7D
28.7%
1Y
345.7%
IONQ
US$45.80
IonQ
7D
-5.2%
1Y
15.8%
HPQ
US$19.05
HP
7D
-2.5%
1Y
-41.6%
SMCI
US$31.21
Super Micro Computer
7D
-3.8%
1Y
9.0%
OSS
US$10.36
One Stop Systems
7D
-11.2%
1Y
200.3%

OSS: Bressner Sale Will Limit Upside If M&A Execution Disappoints

Narrative Update on One Stop Systems Analysts have lifted their price target on One Stop Systems to $9.00, up $0.50, citing the sale of the low margin European reseller Bressner Technology for $22.4m and the potential to redeploy proceeds into M&A, along with prior commentary around better than expected Q3 results and a completed turnaround. Analyst Commentary Recent research has focused on two main drivers for One Stop Systems: the sale of Bressner Technology and the recent Q3 performance, with both feeding into higher price targets and a more constructive narrative around execution and capital allocation.
GPGI
US$24.03
GPGI
7D
-6.4%
1Y
53.9%

GPGI: Margin Progress And Husky Deal Will Shape Balanced Future Outlook

Analysts lifted their price target on GPGI by US$4 to US$25, citing updated assumptions around discount rates, revenue growth, margins, and a higher future P/E multiple after reviewing recent research on CompoSecure and related card and equipment deals. Analyst Commentary Bullish Takeaways Bullish analysts point to recent Street work on CompoSecure, including higher price targets in the US$20 to US$26 range, as support for using a higher future P/E multiple in GPGI models tied to premium metal card demand.
DELL
US$117.32
Dell Technologies
7D
3.6%
1Y
13.8%

DELL: AI Server Demand Will Offset Memory Supercycle Margin Pressures

Narrative Update: Dell Technologies Analysts have adjusted their price target on Dell Technologies higher to about $198 from roughly $177, reflecting updated assumptions around AI server demand, margin resilience in the face of higher memory costs, and opportunities with Tier 2 cloud providers and sovereign customers, even as some firms highlight potential earnings pressure from a memory supercycle and softer non AI hardware demand. Analyst Commentary Recent research on Dell Technologies presents a mixed but constructive picture, with several bullish analysts still highlighting drivers tied to AI servers, margin resilience and new customer segments, even as some firms trim price targets around memory cost concerns and softer non AI hardware demand.
PSTG
US$74.29
Pure Storage
7D
3.6%
1Y
9.8%
AAPL
US$256.44
Apple
7D
3.5%
1Y
7.1%

Maintaining FV - it's all coming true

Am maintaining my FV on this one. This video does a great job of explaining the many years of weak product innovation, which will be hard to recover from.
NTAP
US$99.33
NetApp
7D
2.3%
1Y
-17.4%

NTAP: Margin Strength And Flash Plus Cloud Execution Will Drive Upside

Analysts have trimmed their price target on NetApp by about $1.52 to roughly $122.81. This reflects a mix of tempered fair value and P/E assumptions, even as recent research highlights solid margins, strength in all flash arrays and ongoing growth in public cloud.
HPE
US$21.71
Hewlett Packard Enterprise
7D
3.3%
1Y
0.2%

HPE: Juniper Networking Integration And AI Supercomputers Will Drive Future Upside

Analysts have inched their blended fair value estimate for Hewlett Packard Enterprise up from about $26.28 to $26.44 per share, reflecting modest tweaks to discount rate, revenue growth, profit margin, and future P/E assumptions after recent research pointed to a stronger networking position following the Juniper merger, along with mixed views on hardware demand risks into 2026. Analyst Commentary Bullish Takeaways Bullish analysts see the Juniper merger as reinforcing Hewlett Packard Enterprise's role as a leading enterprise and campus networking vendor.
CRSR
US$5.15
Corsair Gaming
7D
-6.0%
1Y
-44.9%

CRSR: Broader Ecosystem And M&A Pipeline Will Support Long Term Upside

Analysts have kept their price target for Corsair Gaming steady at US$11.00, citing only modest tweaks to assumptions for revenue growth, profit margin and future P/E that did not materially alter their view of the stock’s valuation. What's in the News Corsair is showcasing a broader ecosystem at CES 2026, positioning Stream Deck as a central control layer across gaming, streaming, content creation, productivity, and local AI computing, including early support for Model Context Protocol to link hardware with AI agents and voice workflows (Key Developments).
SNDK
US$527.63
Sandisk
7D
5.3%
1Y
n/a
QUBT
US$11.13
Quantum Computing
7D
-4.4%
1Y
9.9%
BGIN
US$3.13
Bgin Blockchain
7D
-11.7%
1Y
n/a

Bgin Blockchain IPOs Into A Bear Market

Nov 18