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U.S. Tech Hardware Industry Analysis

UpdatedMar 23, 2026
DataAggregated Company Financials
Companies48
  • 7D-1.5%
  • 3M-5.7%
  • 1Y19.3%
  • YTD-5.4%

Over the last 7 days, the Tech Hardware industry has dropped 1.5%, driven by a pullback from Apple of 0.9%. Meanwhile, Sandisk actually outperformed within the industry, gaining 7.3% in the last week. In the past year, the industry has gained 19%. 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, 23 Mar 2026US$4.0tUS$556.1bUS$122.6b25.2x33x7.3x
Wed, 18 Feb 2026US$4.2tUS$552.9bUS$121.7b27.6x34.1x7.5x
Fri, 16 Jan 2026US$4.1tUS$514.0bUS$111.8b29.2x36.5x7.9x
Sun, 14 Dec 2025US$4.3tUS$514.1bUS$111.9b24.3x38.7x8.4x
Tue, 11 Nov 2025US$4.2tUS$512.7bUS$113.1b27.7x37.2x8.2x
Thu, 09 Oct 2025US$4.0tUS$504.4bUS$100.3b30.3x40.1x8x
Sat, 06 Sep 2025US$3.7tUS$504.4bUS$100.3b22.9x37.2x7.4x
Mon, 04 Aug 2025US$3.2tUS$502.4bUS$101.0b18.4x31.2x6.3x
Wed, 02 Jul 2025US$3.1tUS$500.2bUS$98.5b19.6x31.9x6.3x
Fri, 30 May 2025US$3.1tUS$499.8bUS$99.9b17.3x31.2x6.2x
Sun, 27 Apr 2025US$3.3tUS$494.1bUS$101.2b13x32.1x6.6x
Tue, 25 Mar 2025US$3.4tUS$494.0bUS$101.2b17x33.5x6.9x
Thu, 20 Feb 2025US$3.8tUS$486.7bUS$100.5b23.5x38x7.9x
Sat, 18 Jan 2025US$3.6tUS$473.9bUS$97.2b23.8x36.7x7.5x
Mon, 16 Dec 2024US$3.9tUS$473.9bUS$97.2b27.9x40x8.2x
Wed, 13 Nov 2024US$3.5tUS$472.6bUS$96.4b22.8x36.4x7.4x
Fri, 11 Oct 2024US$3.6tUS$466.0bUS$106.7b19.9x33.9x7.8x
Sun, 08 Sep 2024US$3.5tUS$466.1bUS$106.6b20.1x32.5x7.4x
Tue, 06 Aug 2024US$3.5tUS$461.9bUS$105.9b24.1x32.8x7.5x
Thu, 04 Jul 2024US$3.6tUS$457.1bUS$103.3b27.2x34.4x7.8x
Sat, 01 Jun 2024US$3.1tUS$456.8bUS$103.3b28.6x30x6.8x
Mon, 29 Apr 2024US$2.8tUS$458.2bUS$103.4b24.1x26.7x6x
Wed, 27 Mar 2024US$2.8tUS$457.8bUS$102.9b26x27.2x6.1x
Fri, 23 Feb 2024US$2.9tUS$458.7bUS$102.6b28.2x28.6x6.4x
Sun, 21 Jan 2024US$3.1tUS$454.7bUS$98.6b28.3x31.1x6.7x
Tue, 19 Dec 2023US$3.2tUS$455.3bUS$98.5b29.4x32.2x7x
Thu, 16 Nov 2023US$3.0tUS$456.1bUS$98.2b19.6x30.6x6.6x
Sat, 14 Oct 2023US$2.9tUS$453.8bUS$95.1b23.6x30.4x6.4x
Mon, 11 Sep 2023US$2.9tUS$453.9bUS$95.1b23.2x30.3x6.3x
Wed, 09 Aug 2023US$2.9tUS$453.5bUS$95.2b32.1x30.6x6.4x
Fri, 07 Jul 2023US$3.1tUS$456.4bUS$95.7b32x32.4x6.8x
Sun, 04 Jun 2023US$2.9tUS$456.4bUS$95.7b30.2x30.6x6.4x
Tue, 02 May 2023US$2.8tUS$460.6bUS$97.1b21.9x28.3x6x
Thu, 30 Mar 2023US$2.6tUS$460.6bUS$97.0b24.2x27x5.7x
Price to Earnings Ratio

27x


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-2.61%
Tech-2.41%
Tech Hardware-1.54%
Tech Hardware Storage and Peripherals-1.54%
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$709.717.3%
+US$7.1b		1,215.3%PS11.7x
STX Seagate Technology HoldingsUS$411.237.2%
+US$6.2b		365.9%PE46.8x
WDC Western DigitalUS$293.102.4%
+US$2.3b		561.5%PE25.2x
DELL Dell TechnologiesUS$157.670.7%
+US$729.7m		58.0%PE17.2x
KODK Eastman KodakUS$7.8312.3%
+US$83.9m		25.3%PS0.7x

Latest News

DELL
US$157.67
Dell Technologies
7D
0.7%
1Y
58.0%
SMCI
US$20.53
Super Micro Computer
7D
-33.2%
1Y
-51.3%

SMCI: Legal Credibility Concerns Will Likely Undermine Major AI Server Upside

Analysts have trimmed their fair value estimate for Super Micro Computer in response to multiple price target cuts. They cite higher assumed risk, more modest revenue and margin expectations, and a higher future P/E multiple following recent legal and credibility concerns.
STX
US$411.23
Seagate Technology Holdings
7D
7.2%
1Y
365.9%
FOXX
US$4.20
Foxx Development Holdings
7D
5.3%
1Y
-11.9%
AAPL
US$247.99
Apple
7D
-1.9%
1Y
12.3%
HPE
US$21.69
Hewlett Packard Enterprise
7D
-0.7%
1Y
31.6%

HPE: Juniper Merger And Memory Costs Will Shape AI Infrastructure Outlook

Analysts have modestly lifted their average price targets on Hewlett Packard Enterprise into the mid to high $20s, reflecting recent research that highlights resilient demand, higher long term guidance, and an improved networking profile following the Juniper merger, while still acknowledging risks such as memory cost inflation and mixed end market commentary. Analyst Commentary Recent research on Hewlett Packard Enterprise reflects a mix of confidence in the long term story and caution around near term execution, cost trends, and demand quality.
WDC
US$293.10
Western Digital
7D
2.4%
1Y
561.5%

Western Digital Corp (WDC): The HDD Renaissance and the "Road to $20 EPS"

Western Digital has successfully rebranded itself as the "Pure-Play" king of mass-capacity storage. By shedding the volatile NAND Flash segment, the company has allowed its Nearline HDD business to shine as the fundamental backbone of the AI data economy.
NTAP
US$101.11
NetApp
7D
-1.1%
1Y
6.3%
HPQ
US$18.27
HP
7D
-2.2%
1Y
-37.0%
GPGI
US$17.06
GPGI
7D
1.4%
1Y
48.2%
KODK
US$7.83
Eastman Kodak
7D
12.3%
1Y
25.3%
INFQ
US$8.81
Infleqtion
7D
-16.5%
1Y
n/a
QUBT
US$6.96
Quantum Computing
7D
-5.6%
1Y
-20.5%
IONQ
US$31.20
IonQ
7D
-6.3%
1Y
19.4%

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.
VTIX
US$8.88
Virtuix Holdings
7D
31.2%
1Y
n/a
SNDK
US$709.71
Sandisk
7D
7.3%
1Y
1,215.3%