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U.S. Tech Hardware Industry Analysis

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies48
  • 7D5.1%
  • 3M2.6%
  • 1Y19.0%
  • YTD2.3%

In the last week, the Tech Hardware industry is up 5.1%, with Apple up 4.3%. In the same time, IonQ was down 15%. In the last 12 months, the industry was up 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
Wed, 04 Feb 2026US$4.4tUS$545.7bUS$121.5b29.3x36x8x
Fri, 02 Jan 2026US$4.2tUS$514.0bUS$111.8b22.6x37.8x8.2x
Sun, 30 Nov 2025US$4.3tUS$512.8bUS$113.1b25.4x38.4x8.5x
Tue, 28 Oct 2025US$4.1tUS$504.7bUS$100.3b27.6x41.1x8.2x
Thu, 25 Sep 2025US$4.0tUS$504.4bUS$100.3b26.2x39.7x7.9x
Sat, 23 Aug 2025US$3.5tUS$502.8bUS$100.5b21.5x34.7x6.9x
Mon, 21 Jul 2025US$3.3tUS$500.2bUS$98.6b20.2x33.6x6.6x
Wed, 18 Jun 2025US$3.1tUS$500.2bUS$98.5b17.4x31.4x6.2x
Fri, 16 May 2025US$3.3tUS$499.6bUS$100.0b16.3x32.9x6.6x
Sun, 13 Apr 2025US$3.1tUS$494.0bUS$101.2b13.6x30.3x6.2x
Tue, 11 Mar 2025US$3.7tUS$494.0bUS$101.2b15.2x36.6x7.5x
Thu, 06 Feb 2025US$3.6tUS$479.7bUS$100.5b21.9x36.1x7.6x
Sat, 04 Jan 2025US$3.8tUS$473.9bUS$97.2b23.5x39.2x8x
Mon, 02 Dec 2024US$3.7tUS$472.7bUS$96.5b21.7x38.5x7.9x
Wed, 30 Oct 2024US$3.7tUS$467.2bUS$106.7b22.9x34.5x7.9x
Fri, 27 Sep 2024US$3.6tUS$466.0bUS$106.7b17.5x33.4x7.7x
Sun, 25 Aug 2024US$3.6tUS$465.2bUS$106.5b24.9x33.7x7.7x
Tue, 23 Jul 2024US$3.6tUS$457.1bUS$103.2b26.8x34.8x7.9x
Thu, 20 Jun 2024US$3.5tUS$457.1bUS$103.2b26.9x33.4x7.6x
Sat, 18 May 2024US$3.1tUS$456.7bUS$103.2b28x29.9x6.8x
Mon, 15 Apr 2024US$2.9tUS$457.8bUS$102.9b24.7x27.9x6.3x
Wed, 13 Mar 2024US$2.8tUS$457.8bUS$102.7b26.5x27.6x6.2x
Fri, 09 Feb 2024US$3.0tUS$458.7bUS$102.6b28.8x29.7x6.6x
Sun, 07 Jan 2024US$2.9tUS$454.7bUS$98.6b26.6x29.6x6.4x
Tue, 05 Dec 2023US$3.1tUS$455.3bUS$98.5b26.9x31.2x6.7x
Thu, 02 Nov 2023US$2.8tUS$452.8bUS$94.9b19.7x29x6.1x
Sat, 30 Sep 2023US$2.8tUS$453.9bUS$95.1b22.7x29x6.1x
Mon, 28 Aug 2023US$2.9tUS$453.8bUS$95.2b25.2x30.3x6.3x
Wed, 26 Jul 2023US$3.1tUS$456.4bUS$95.7b32.3x32.8x6.9x
Fri, 23 Jun 2023US$3.0tUS$456.4bUS$95.7b31.2x31.1x6.5x
Sun, 21 May 2023US$2.8tUS$456.4bUS$95.7b25.5x29.6x6.2x
Tue, 18 Apr 2023US$2.7tUS$460.5bUS$97.1b25.7x27.7x5.8x
Thu, 16 Mar 2023US$2.5tUS$460.5bUS$96.9b25.4x25.7x5.4x
Sat, 11 Feb 2023US$2.5tUS$460.1bUS$97.3b25.1x25.3x5.4x
Price to Earnings Ratio

25.3x


Total Market Cap: US$2.5tTotal Earnings: US$97.3bTotal Revenue: US$460.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 32.6x202420252026
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 32.6x.
  • The 3-year average PS ratio of 6.9x is lower than the industry's current PS ratio of 8.0x.
Past Earnings Growth
  • The earnings for companies in the Tech industry have grown 7.7% per year over the last three years.
  • Revenues for these companies have grown 5.9% 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-1.35%
Tech-5.09%
Tech Hardware5.05%
Tech Hardware Storage and Peripherals5.05%
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$269.484.3%
+US$160.2b		15.8%PE33.6x
SNDK SandiskUS$695.5131.8%
+US$25.3b		n/aPS11.5x
STX Seagate Technology HoldingsUS$444.4519.6%
+US$15.9b		370.3%PE49.2x
WDC Western DigitalUS$290.2414.9%
+US$12.0b		354.9%PE24.9x
DELL Dell TechnologiesUS$117.152.2%
+US$1.7b		15.2%PE14.9x

Latest News

WDC
US$290.24
Western Digital
7D
14.9%
1Y
354.9%
SMCI
US$29.67
Super Micro Computer
7D
-4.9%
1Y
-5.8%
STX
US$444.45
Seagate Technology Holdings
7D
19.6%
1Y
370.3%
AAPL
US$269.48
Apple
7D
4.3%
1Y
15.8%
HPQ
US$19.00
HP
7D
-1.9%
1Y
-40.6%
CAN
US$0.60
Canaan
7D
-16.9%
1Y
-67.3%
GPGI
US$23.53
GPGI
7D
-4.0%
1Y
48.5%
QUBT
US$9.65
Quantum Computing
7D
-14.7%
1Y
-2.0%
SNDK
US$695.51
Sandisk
7D
31.8%
1Y
n/a
IONQ
US$38.47
IonQ
7D
-15.4%
1Y
-8.1%
XRX
US$2.17
Xerox Holdings
7D
1.9%
1Y
-74.0%
HPE
US$21.78
Hewlett Packard Enterprise
7D
0.8%
1Y
4.6%
DELL
US$117.15
Dell Technologies
7D
2.2%
1Y
15.2%

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$68.37
Pure Storage
7D
-7.8%
1Y
0.03%
DBD
US$70.99
Diebold Nixdorf
7D
4.4%
1Y
66.9%
NTAP
US$95.49
NetApp
7D
-4.4%
1Y
-21.4%

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.