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U.S. Tech Hardware Industry Analysis

UpdatedJan 26, 2026
DataAggregated Company Financials
Companies46
  • 7D-2.5%
  • 3M-6.2%
  • 1Y12.3%
  • YTD-7.0%

Over the last 7 days, the Tech Hardware industry has dropped 2.5%, driven by a pullback from Apple of 2.9%. On the other hand Sandisk is actually up 15%. Over the past 12 months, the industry was up 12%. 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
Mon, 26 Jan 2026US$3.9tUS$514.0bUS$111.8b31.1x35.1x7.6x
Wed, 24 Dec 2025US$4.2tUS$514.1bUS$111.9b23.3x38x8.3x
Fri, 21 Nov 2025US$4.2tUS$512.7bUS$113.1b23.5x37x8.2x
Sun, 19 Oct 2025US$4.0tUS$504.4bUS$100.3b27.1x39.5x7.8x
Tue, 16 Sep 2025US$3.7tUS$504.4bUS$100.3b25.7x36.9x7.3x
Thu, 14 Aug 2025US$3.6tUS$502.7bUS$100.7b20.6x35.4x7.1x
Sat, 12 Jul 2025US$3.3tUS$500.2bUS$98.6b20.4x33.7x6.6x
Mon, 09 Jun 2025US$3.2tUS$500.2bUS$98.5b18.2x32.2x6.4x
Wed, 07 May 2025US$3.1tUS$498.6bUS$102.2b12.6x30.1x6.2x
Fri, 04 Apr 2025US$3.2tUS$494.0bUS$101.2b13.3x31.2x6.4x
Sun, 02 Mar 2025US$3.8tUS$492.7bUS$100.5b17.8x37.4x7.6x
Tue, 28 Jan 2025US$3.6tUS$473.9bUS$97.2b22.9x37x7.6x
Thu, 26 Dec 2024US$4.0tUS$473.9bUS$97.2b26.6x41.5x8.5x
Sat, 23 Nov 2024US$3.6tUS$472.7bUS$96.5b21.8x37.1x7.6x
Mon, 21 Oct 2024US$3.7tUS$466.0bUS$106.8b19.7x34.7x7.9x
Wed, 18 Sep 2024US$3.4tUS$466.0bUS$106.7b19.1x31.9x7.3x
Fri, 16 Aug 2024US$3.5tUS$465.1bUS$106.7b24.3x32.8x7.5x
Sun, 14 Jul 2024US$3.7tUS$457.1bUS$103.3b27.2x35.8x8.1x
Tue, 11 Jun 2024US$3.1tUS$457.1bUS$103.2b25.7x30.2x6.8x
Thu, 09 May 2024US$2.9tUS$456.7bUS$103.3b27.9x28.5x6.4x
Sat, 06 Apr 2024US$2.8tUS$457.8bUS$102.9b24.5x26.8x6x
Mon, 04 Mar 2024US$2.9tUS$457.8bUS$102.6b27.5x28.5x6.4x
Wed, 31 Jan 2024US$3.1tUS$456.3bUS$98.7b30x31.2x6.7x
Fri, 29 Dec 2023US$3.1tUS$455.3bUS$98.5b26.6x31.5x6.8x
Sun, 26 Nov 2023US$3.0tUS$456.1bUS$98.1b21.8x31x6.7x
Tue, 24 Oct 2023US$2.8tUS$453.8bUS$95.1b21.1x29.3x6.1x
Thu, 21 Sep 2023US$2.8tUS$453.9bUS$95.1b20.3x29.8x6.2x
Sat, 19 Aug 2023US$2.8tUS$454.0bUS$95.2b25.1x29.5x6.2x
Mon, 17 Jul 2023US$3.1tUS$456.4bUS$95.7b31.8x32.3x6.8x
Wed, 14 Jun 2023US$3.0tUS$456.4bUS$95.7b30.6x31.1x6.5x
Fri, 12 May 2023US$2.8tUS$456.5bUS$95.8b24.9x29.3x6.1x
Sun, 09 Apr 2023US$2.7tUS$460.6bUS$97.1b24x27.6x5.8x
Tue, 07 Mar 2023US$2.5tUS$460.8bUS$97.2b25.6x25.3x5.3x
Thu, 02 Feb 2023US$2.4tUS$466.9bUS$102.0b23.8x23.3x5.1x
Price to Earnings Ratio

23.3x


Total Market Cap: US$2.4tTotal 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 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 32.5x.
  • The 3-year average PS ratio of 6.9x is lower than the industry's current PS ratio of 7.6x.
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 Market-0.36%
Tech-0.95%
Tech Hardware-2.52%
Tech Hardware Storage and Peripherals-2.52%
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$473.8314.6%
+US$8.8b		n/aPS8.9x
WDC Western DigitalUS$236.396.7%
+US$5.1b		267.1%PE31.1x
STX Seagate Technology HoldingsUS$346.106.1%
+US$4.3b		234.5%PE44x
KODK Eastman KodakUS$7.312.5%
+US$17.4m		4.7%PS0.7x
MOVE MovanoUS$16.74133.8%
+US$8.0m		-65.1%PS28x

Latest News

SMCI
US$31.70
Super Micro Computer
7D
-2.9%
1Y
9.0%

SMCI: Large AI Orders And Margin Recovery Efforts Will Drive Future Repricing

Analysts have reduced their Super Micro Computer price targets by single-digit percentages, citing updated views on growth, profitability, and expectations for a lower future P/E. At the same time, some research notes highlight strong new orders and the possibility of margin recovery, alongside ongoing competition risks in AI servers.
PSTG
US$69.75
Pure Storage
7D
-4.3%
1Y
6.8%
DBD
US$70.01
Diebold Nixdorf
7D
0.1%
1Y
61.0%
AAPL
US$248.04
Apple
7D
-2.9%
1Y
7.9%

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.
DELL
US$115.43
Dell Technologies
7D
-4.2%
1Y
11.2%
STX
US$346.10
Seagate Technology Holdings
7D
6.1%
1Y
234.5%

STX: HDD Pricing Power And AI Data Demand Will Drive Future Upside

Analysts have raised their price targets for Seagate Technology Holdings, with our fair value estimate increasing from US$427.32 to US$459.66. In their updated models, they highlight stronger revenue growth, higher profit margins, and a lower assumed future P/E multiple.
NTAP
US$97.42
NetApp
7D
-6.2%
1Y
-18.8%

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$21.05
Hewlett Packard Enterprise
7D
-1.8%
1Y
-8.3%

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.
WDC
US$236.39
Western Digital
7D
6.7%
1Y
267.1%

WDC: Elevated HDD Pricing Assumptions Will Drive Future Downside Surprise Risk

Analysts have lifted their price target on Western Digital from US$42.07 to US$145.00, citing updated assumptions around revenue growth, profitability, and a higher future P/E multiple in line with recent bullish Street research. Analyst Commentary Recent Street research around Western Digital has clustered around higher price targets and more constructive earnings assumptions, but there are still some clear pockets of caution that are worth flagging if you are thinking about risk and reward.
KODK
US$7.31
Eastman Kodak
7D
2.5%
1Y
4.7%
IONQ
US$47.25
IonQ
7D
-7.0%
1Y
22.6%
HPQ
US$19.43
HP
7D
-4.6%
1Y
-41.7%

HPQ: Memory Cost Pressures And AI PC Push Will Shape 2026 Outlook

Analysts have trimmed their HP Inc. price targets to a range of about US$21 to US$26, reflecting updated views on fair value around US$21.17 as they factor in memory cost headwinds, softer margin expectations, and lower future P/E assumptions.
SNDK
US$473.83
Sandisk
7D
14.6%
1Y
n/a
FOXX
US$4.51
Foxx Development Holdings
7D
10.1%
1Y
36.7%
IMMR
US$6.71
Immersion
7D
3.4%
1Y
-20.4%
MOVE
US$16.74
Movano
7D
133.8%
1Y
-65.1%