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U.S. Tech Hardware Industry Analysis

UpdatedFeb 22, 2026
DataAggregated Company Financials
Companies50
  • 7D3.1%
  • 3M-0.7%
  • 1Y13.1%
  • YTD0.3%

In the last week, the Tech Hardware industry is up 3.1%, with Apple up 3.4%. During this same period, the Hewlett Packard Enterprise underperformed, falling 5.8%. This takes the industry's 12 month performance to a gain of 13%. Looking forward, earnings are forecast to grow by 9.7% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Feb 2026US$4.3tUS$552.9bUS$121.7b27.4x35.3x7.8x
Tue, 20 Jan 2026US$4.0tUS$514.0bUS$111.8b29.1x36x7.8x
Thu, 18 Dec 2025US$4.3tUS$514.1bUS$111.9b22.5x38.2x8.3x
Sat, 15 Nov 2025US$4.3tUS$512.7bUS$113.1b26.5x37.6x8.3x
Mon, 13 Oct 2025US$3.8tUS$504.4bUS$100.3b28.3x38.4x7.6x
Wed, 10 Sep 2025US$3.7tUS$504.4bUS$100.3b24.3x36.4x7.2x
Fri, 08 Aug 2025US$3.3tUS$502.7bUS$100.9b18.9x32.8x6.6x
Sun, 06 Jul 2025US$3.3tUS$499.8bUS$98.6b20.4x33.8x6.7x
Tue, 03 Jun 2025US$3.1tUS$499.8bUS$99.9b16.9x31.3x6.3x
Thu, 01 May 2025US$3.3tUS$494.1bUS$101.2b12.9x32.5x6.7x
Sat, 29 Mar 2025US$3.5tUS$494.1bUS$101.2b14.1x34.3x7x
Mon, 24 Feb 2025US$3.8tUS$486.7bUS$100.5b22.6x38.2x7.9x
Wed, 22 Jan 2025US$3.6tUS$473.9bUS$97.2b24.9x37x7.6x
Fri, 20 Dec 2024US$3.9tUS$473.9bUS$97.2b25.6x39.9x8.2x
Sun, 17 Nov 2024US$3.5tUS$472.5bUS$96.4b22.1x36.4x7.4x
Tue, 15 Oct 2024US$3.6tUS$466.0bUS$106.7b20.1x33.6x7.7x
Thu, 12 Sep 2024US$3.5tUS$466.0bUS$106.7b21.7x32.8x7.5x
Sat, 10 Aug 2024US$3.4tUS$465.1bUS$106.8b22.8x31.5x7.2x
Mon, 08 Jul 2024US$3.6tUS$457.1bUS$103.3b26.9x35.1x7.9x
Wed, 05 Jun 2024US$3.1tUS$456.9bUS$103.3b28.9x30.2x6.8x
Fri, 03 May 2024US$2.8tUS$460.8bUS$103.8b24.4x27x6.1x
Sun, 31 Mar 2024US$2.8tUS$457.8bUS$102.9b24.6x27.3x6.1x
Tue, 27 Feb 2024US$2.9tUS$458.7bUS$102.6b27.7x28.6x6.4x
Thu, 25 Jan 2024US$3.1tUS$454.7bUS$98.6b28.7x31.7x6.9x
Sat, 23 Dec 2023US$3.1tUS$455.3bUS$98.5b26.6x31.6x6.8x
Mon, 20 Nov 2023US$3.0tUS$456.1bUS$98.1b22x31x6.7x
Wed, 18 Oct 2023US$2.9tUS$453.8bUS$95.1b24.7x30.1x6.3x
Fri, 15 Sep 2023US$2.8tUS$453.9bUS$95.1b22.4x29.6x6.2x
Sun, 13 Aug 2023US$2.9tUS$454.0bUS$95.2b25.8x30.2x6.3x
Tue, 11 Jul 2023US$3.1tUS$456.4bUS$95.7b31.5x31.9x6.7x
Thu, 08 Jun 2023US$2.9tUS$456.4bUS$95.7b29.7x30.3x6.4x
Sat, 06 May 2023US$2.8tUS$458.1bUS$96.3b21.4x29.1x6.1x
Mon, 03 Apr 2023US$2.7tUS$460.6bUS$97.1b25x27.6x5.8x
Wed, 01 Mar 2023US$2.4tUS$459.9bUS$97.2b24.5x24.8x5.2x
Price to Earnings Ratio

24.8x


Total Market Cap: US$2.4tTotal Earnings: US$97.2bTotal Revenue: US$459.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 32.8x202420252026
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 32.8x.
  • The 3-year average PS ratio of 7.0x 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 7.8% per year over the last three years.
  • Revenues for these companies have grown 6.3% 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 Market1.04%
Tech1.26%
Tech Hardware3.09%
Tech Hardware Storage and Peripherals3.09%
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$264.583.4%
+US$129.2b		7.7%PE33x
SNDK SandiskUS$649.973.7%
+US$3.5b		1,190.4%PS10.7x
DELL Dell TechnologiesUS$122.274.1%
+US$3.2b		4.0%PE15.6x
INFQ InfleqtionUS$13.29-2.7%
US$2.3b		n/an/a
WDC Western DigitalUS$285.521.4%
+US$1.3b		315.6%PE24.5x

Latest News

WDC
US$285.52
Western Digital
7D
1.4%
1Y
315.6%
INFQ
US$13.29
Infleqtion
7D
-2.7%
1Y
n/a
STX
US$411.11
Seagate Technology Holdings
7D
-3.5%
1Y
307.6%

STX: Elevated P E Expectations For 2026 Pricing Will Face Execution Test

The analyst price target for Seagate Technology Holdings has been updated to $375.00. This change reflects analysts' revised assumptions for higher revenue growth, slightly stronger profit margins, and a higher future P/E multiple following a series of Street target increases and rating upgrades.
DBD
US$81.24
Diebold Nixdorf
7D
1.2%
1Y
82.9%

DBD: Higher Profitability Outlook Will Support Repriced Earnings Multiple

Analysts have raised their Diebold Nixdorf fair value estimate from $80 to $100, citing updated views on profitability, discount rate, and future P/E assumptions that are reflected in recent price target increases from the Street. Analyst Commentary Recent Street research has highlighted more constructive views on Diebold Nixdorf, with bullish analysts adjusting their models in ways that support a higher fair value range.
DELL
US$122.27
Dell Technologies
7D
4.1%
1Y
4.0%
SNDK
US$649.97
Sandisk
7D
3.7%
1Y
1,190.4%
HPE
US$21.37
Hewlett Packard Enterprise
7D
-5.8%
1Y
1.1%

HPE: Juniper Merger And Networking Positioning Will Drive Future Upside Potential

Narrative Update: Hewlett Packard Enterprise Analysts have reset their view on Hewlett Packard Enterprise with price targets now clustering around $26 to $31. This reflects mixed hardware and storage demand commentary alongside a more constructive view on the Juniper merger and HPE's position in enterprise and data center networking.
AAPL
US$264.58
Apple
7D
3.4%
1Y
7.7%

AAPL: Gemini Partnership And AI Roadmap Will Drive Future Upside

Analysts have raised their Apple fair value estimate to $350 from about $283.66, citing Street research that characterizes the recent selloff as unwarranted and highlights a clearer AI roadmap supported by the Google Gemini partnership as well as ongoing checks on demand and margins. Analyst Commentary Recent research points to a generally constructive backdrop around Apple, with many bullish analysts emphasizing AI execution, the Google Gemini partnership, and supportive checks on demand and margins.
CAN
US$0.46
Canaan
7D
-7.3%
1Y
-72.8%

CAN: Self Mining Expansion And Share Buybacks Will Support Future Upside

Analysts have trimmed their price target on Canaan to $2.12 from $2.91, as updated assumptions reflect a lower revenue growth rate and a higher discount rate, partially offset by a higher projected profit margin and a slightly lower future P/E multiple. What's in the News Canaan reported unaudited production results for January 2026, with 83 Bitcoins mined for the month (company announcement of operating results).
CRSR
US$5.62
Corsair Gaming
7D
-17.2%
1Y
-52.5%

CRSR: Broader Ecosystem And M&A Will Support Future Upside Potential

Analysts have trimmed Corsair Gaming's consensus price target by a few dollars to approximately $11.00, reflecting updated assumptions for slower revenue growth, slimmer profit margins, and a much higher future P/E multiple in their models. Analyst Commentary Recent Street research around Corsair Gaming has been active, with several firms revisiting their price targets and assumptions.
SMCI
US$32.42
Super Micro Computer
7D
6.2%
1Y
-42.2%
HPQ
US$18.59
HP
7D
-3.5%
1Y
-46.3%

HPQ: Memory Costs Leadership Change And AI PCs Will Shape 2026 Outlook

Analysts have trimmed their HP Inc. price targets, with our fair value estimate moving from $21.17 to $18.00 as they factor in leadership changes, expected memory cost headwinds into 2026, and more conservative revenue growth assumptions, despite slightly firmer margin expectations and a lower future P/E multiple.
GPGI
US$22.87
GPGI
7D
-7.1%
1Y
42.0%

GPGI: Margin Progress And Issuer Partnerships Will Guide Balanced Future Outlook

Narrative Update Analysts lifted their price target on GPGI from US$25.50 to US$26.00, citing sustained margin improvement, stronger organic growth, and potential upside from issuer partnerships similar to the recent street commentary on CompoSecure. Analyst Commentary Recent research on CompoSecure is shaping how investors think about GPGI, particularly where card manufacturing, issuer relationships, and margins intersect.
IONQ
US$31.90
IonQ
7D
-6.5%
1Y
0.5%
VTIX
US$5.96
Virtuix Holdings
7D
23.4%
1Y
n/a
QUBT
US$7.90
Quantum Computing
7D
-6.7%
1Y
5.5%