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U.S. Tech Hardware Industry Analysis

UpdatedDec 17, 2025
DataAggregated Company Financials
Companies44
  • 7D-1.0%
  • 3M14.6%
  • 1Y9.0%
  • YTD14.0%

Over the last 7 days, the Tech Hardware industry has dropped 1.0%, driven by a pullback from Apple of 0.9%. This takes the industry's 12 month performance to a gain of 9.0%. As for the next few years, earnings are expected to grow by 8.9% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 17 Dec 2025US$4.3tUS$514.1bUS$111.9b23.8x38.1x8.3x
Fri, 14 Nov 2025US$4.3tUS$512.7bUS$113.1b26.4x37.8x8.3x
Sun, 12 Oct 2025US$3.8tUS$504.4bUS$100.3b28.3x38.4x7.6x
Tue, 09 Sep 2025US$3.7tUS$504.4bUS$100.3b22.7x36.9x7.3x
Thu, 07 Aug 2025US$3.3tUS$502.7bUS$100.9b18.9x32.9x6.6x
Sat, 05 Jul 2025US$3.3tUS$499.9bUS$98.6b20.4x33.9x6.7x
Mon, 02 Jun 2025US$3.1tUS$499.8bUS$100.0b16.9x31.2x6.3x
Wed, 30 Apr 2025US$3.3tUS$494.1bUS$101.2b12.9x32.2x6.6x
Fri, 28 Mar 2025US$3.4tUS$494.1bUS$101.2b14.3x34x7x
Sun, 23 Feb 2025US$3.8tUS$486.7bUS$100.5b22.6x38.2x7.9x
Tue, 21 Jan 2025US$3.6tUS$473.9bUS$97.2b23.8x37x7.6x
Thu, 19 Dec 2024US$4.0tUS$473.9bUS$97.2b26.4x40.8x8.4x
Sat, 16 Nov 2024US$3.6tUS$472.5bUS$96.4b22.1x36.9x7.5x
Mon, 14 Oct 2024US$3.6tUS$466.0bUS$106.7b20.1x33.6x7.7x
Wed, 11 Sep 2024US$3.5tUS$466.0bUS$106.7b20.9x32.5x7.5x
Fri, 09 Aug 2024US$3.3tUS$465.1bUS$106.7b24.7x31x7.1x
Sun, 07 Jul 2024US$3.6tUS$457.1bUS$103.3b26.9x35.1x7.9x
Tue, 04 Jun 2024US$3.1tUS$456.8bUS$103.3b28.6x30x6.8x
Thu, 02 May 2024US$2.8tUS$460.8bUS$103.7b24x26.7x6x
Sat, 30 Mar 2024US$2.8tUS$457.8bUS$102.9b24.6x27.3x6.1x
Mon, 26 Feb 2024US$2.9tUS$458.7bUS$102.6b27.9x28.7x6.4x
Wed, 24 Jan 2024US$3.1tUS$454.7bUS$98.6b28.7x31.5x6.8x
Fri, 22 Dec 2023US$3.1tUS$455.3bUS$98.5b27.7x31.8x6.9x
Sun, 19 Nov 2023US$3.0tUS$456.1bUS$98.1b22x31x6.7x
Tue, 17 Oct 2023US$2.9tUS$453.8bUS$95.1b24.1x30.2x6.3x
Thu, 14 Sep 2023US$2.8tUS$453.9bUS$95.1b22.4x29.6x6.2x
Sat, 12 Aug 2023US$2.9tUS$454.0bUS$95.2b25.8x30.2x6.3x
Mon, 10 Jul 2023US$3.1tUS$456.4bUS$95.7b31.8x32.3x6.8x
Wed, 07 Jun 2023US$2.9tUS$456.4bUS$95.7b29.9x30.3x6.4x
Fri, 05 May 2023US$2.7tUS$460.5bUS$97.2b20.9x27.7x5.8x
Sun, 02 Apr 2023US$2.7tUS$460.6bUS$97.1b25x27.6x5.8x
Tue, 28 Feb 2023US$2.4tUS$460.0bUS$97.2b24.6x24.8x5.2x
Thu, 26 Jan 2023US$2.3tUS$467.8bUS$102.0b23.2x22.7x5x
Sat, 24 Dec 2022US$2.2tUS$467.8bUS$102.0b22.1x21.2x4.6x
Price to Earnings Ratio

21.2x


Total Market Cap: US$2.2tTotal Earnings: US$102.0bTotal Revenue: US$467.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 31.9x202320242025
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 38.1x which is higher than its 3-year average PE of 31.9x.
  • The 3-year average PS ratio of 6.8x is lower than the industry's current PS ratio of 8.3x.
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 3.2% 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-0.86%
Tech-4.39%
Tech Hardware-1.01%
Tech Hardware Storage and Peripherals-1.01%
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
WDC Western DigitalUS$174.583.0%
+US$1.7b		170.1%PE22.9x
STX Seagate Technology HoldingsUS$288.131.9%
+US$1.1b		204.9%PE36.6x
DBD Diebold NixdorfUS$67.022.2%
+US$50.9m		41.9%PE47.5x
BGIN Bgin BlockchainUS$3.4114.0%
+US$47.5m		n/aPS1.9x
XRX Xerox HoldingsUS$2.818.1%
+US$26.9m		-67.3%PS0.05x

Latest News

STX
US$288.13
Seagate Technology Holdings
7D
1.9%
1Y
204.9%
AAPL
US$274.61
Apple
7D
-0.9%
1Y
8.3%
NTAP
US$113.09
NetApp
7D
-3.6%
1Y
-7.7%

NTAP: Margin Strength And Cloud Momentum Will Support Measured Future Upside

Analysts have nudged our NetApp price target slightly lower to approximately $124.33 from $125.00, reflecting only modest tweaks to long term growth, margin, and valuation assumptions, even as recent Street research highlights stronger than expected margins, robust all flash array performance, and sustained high teens public cloud growth. Analyst Commentary Recent Street commentary presents a largely constructive view on NetApp, with price targets edging higher alongside recognition of stronger profitability and resilient demand trends.
DELL
US$133.75
Dell Technologies
7D
-3.2%
1Y
13.1%

DELL: Tier-2 And Sovereign AI Demand Will Support Future Margin Resilience

The analyst price target for Dell Technologies has edged higher by approximately $0.40, reflecting analysts' view that robust and broadening AI demand can offset emerging memory cost and margin headwinds, even as some expect valuation multiples to normalize. Analyst Commentary Recent Street research highlights a wide range of views on Dell Technologies, with most analysts still constructive on the company’s AI driven growth while a minority turns more cautious on margins and valuation as memory costs rise.
ALOT
US$7.73
AstroNova
7D
7.7%
1Y
-43.2%

Improved Revenues Required Before AstroNova, Inc. (NASDAQ:ALOT) Shares Find Their Feet

Dec 13
Improved Revenues Required Before AstroNova, Inc. (NASDAQ:ALOT) Shares Find Their Feet
SNDK
US$209.31
Sandisk
7D
-4.6%
1Y
n/a
WDC
US$174.58
Western Digital
7D
3.0%
1Y
170.1%
HPE
US$24.30
Hewlett Packard Enterprise
7D
-1.9%
1Y
12.8%
DBD
US$67.02
Diebold Nixdorf
7D
2.2%
1Y
41.9%
HPQ
US$24.83
HP
7D
-2.2%
1Y
-26.6%

HPQ: Memory Supercycle And Print Weakness Will Shape Balanced Future Returns

Analysts have trimmed their average price target on HP Inc. by about $2 to the mid $20s, as rising memory costs, a weaker printing outlook, and the resulting $1B cost restructuring plan temper the benefit of slightly better expected revenue growth and broadly stable margins.
SMCI
US$31.66
Super Micro Computer
7D
-9.6%
1Y
-6.3%

SMCI: AI Order Momentum Will Drive Long Term Revenue Upside

Analysts nudged their average price target on Super Micro Computer modestly higher, to about $34 from roughly $30, citing a strong rebound in orders, including a multibillion-dollar GB300 platform win, and confidence that near-term revenue timing issues will be offset by longer-term AI server demand despite ongoing profitability risks. Analyst Commentary Street research following the latest earnings update reflects a mixed but generally more constructive stance on Super Micro, with modest target changes and reiterated ratings highlighting both upside from AI server momentum and persistent execution risks.
IONQ
US$49.67
IonQ
7D
-8.8%
1Y
13.3%
XRX
US$2.81
Xerox Holdings
7D
8.1%
1Y
-67.3%
BGIN
US$3.41
Bgin Blockchain
7D
14.0%
1Y
n/a

Bgin Blockchain IPOs Into A Bear Market

Nov 18
MOVE
US$8.09
Movano
7D
5.5%
1Y
-86.6%