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U.S. Tech Hardware Industry Analysis

UpdatedMar 12, 2026
DataAggregated Company Financials
Companies50
  • 7D-0.4%
  • 3M-4.0%
  • 1Y26.7%
  • YTD-1.4%

Over the last 7 days, the Tech Hardware industry has remained flat, although notably Sandisk gained 9.4%. The past year has been better, since the industry has gained 27% in that time. Looking forward, earnings are forecast to grow by 9.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 13 Mar 2026US$4.2tUS$554.7bUS$122.6b25.5x34.4x7.6x
Sun, 08 Feb 2026US$4.5tUS$552.7bUS$121.6b29.5x36.9x8.1x
Tue, 06 Jan 2026US$4.2tUS$514.0bUS$111.8b24.7x37.4x8.1x
Thu, 04 Dec 2025US$4.4tUS$512.9bUS$113.1b25.6x39x8.6x
Sat, 01 Nov 2025US$4.2tUS$505.1bUS$100.8b28.9x42x8.4x
Mon, 29 Sep 2025US$4.0tUS$504.4bUS$100.3b26x39.7x7.9x
Wed, 27 Aug 2025US$3.5tUS$502.8bUS$100.5b21.5x35.1x7x
Fri, 25 Jul 2025US$3.4tUS$500.2bUS$98.6b19.6x34x6.7x
Sun, 22 Jun 2025US$3.1tUS$500.2bUS$98.5b17.5x31.2x6.1x
Tue, 20 May 2025US$3.3tUS$499.6bUS$100.0b16.7x32.8x6.6x
Thu, 17 Apr 2025US$3.1tUS$494.0bUS$101.2b11.7x31x6.3x
Sat, 15 Mar 2025US$3.3tUS$494.1bUS$101.2b16.5x32.2x6.6x
Mon, 10 Feb 2025US$3.6tUS$479.7bUS$100.5b21.7x35.4x7.4x
Wed, 08 Jan 2025US$3.8tUS$473.9bUS$97.2b23.8x39.5x8.1x
Fri, 06 Dec 2024US$3.8tUS$472.8bUS$96.5b22.7x39.5x8.1x
Sun, 03 Nov 2024US$3.5tUS$472.6bUS$98.6b14.6x35.4x7.4x
Tue, 01 Oct 2024US$3.7tUS$466.0bUS$106.7b15.2x34.4x7.9x
Thu, 29 Aug 2024US$3.6tUS$465.2bUS$106.5b21.6x33.8x7.7x
Sat, 27 Jul 2024US$3.5tUS$456.9bUS$103.3b26.3x33.6x7.6x
Mon, 24 Jun 2024US$3.3tUS$457.1bUS$103.2b26.6x32.4x7.3x
Wed, 22 May 2024US$3.1tUS$456.7bUS$103.3b27.6x29.8x6.7x
Fri, 19 Apr 2024US$2.7tUS$457.8bUS$102.9b23.8x26.5x6x
Sun, 17 Mar 2024US$2.8tUS$457.8bUS$102.8b26.4x27.4x6.2x
Tue, 13 Feb 2024US$3.0tUS$458.7bUS$102.6b28.6x29.4x6.6x
Thu, 11 Jan 2024US$3.0tUS$454.7bUS$98.6b27.8x30.2x6.6x
Sat, 09 Dec 2023US$3.1tUS$455.3bUS$98.5b26.6x31.6x6.8x
Mon, 06 Nov 2023US$2.8tUS$452.4bUS$97.1b20.6x29.2x6.3x
Wed, 04 Oct 2023US$2.8tUS$453.8bUS$95.1b22.3x29.5x6.2x
Fri, 01 Sep 2023US$3.0tUS$453.9bUS$95.1b22.7x31.9x6.7x
Sun, 30 Jul 2023US$3.2tUS$456.4bUS$95.7b32.8x33x6.9x
Tue, 27 Jun 2023US$3.0tUS$456.4bUS$95.7b30.9x31.3x6.6x
Thu, 25 May 2023US$2.8tUS$456.4bUS$95.7b25x29x6.1x
Sat, 22 Apr 2023US$2.7tUS$460.5bUS$97.1b24.7x27.6x5.8x
Mon, 20 Mar 2023US$2.5tUS$460.5bUS$97.0b24.3x26x5.5x
Price to Earnings Ratio

26x


Total Market Cap: US$2.5tTotal Earnings: US$97.0bTotal Revenue: US$460.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 32.9x202420252026
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 32.9x.
  • 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 6.4% 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-1.47%
Tech0.73%
Tech Hardware-0.37%
Tech Hardware Storage and Peripherals-0.37%
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$618.829.4%
+US$7.9b		1,177.5%PS10.2x
DELL Dell TechnologiesUS$149.912.3%
+US$2.2b		62.2%PE16.7x
STX Seagate Technology HoldingsUS$373.981.8%
+US$1.5b		336.8%PE42.5x
WDC Western DigitalUS$261.180.8%
+US$728.9m		521.4%PE22.4x
HPE Hewlett Packard EnterpriseUS$21.580.5%
+US$104.0m		46.1%PS0.8x

Latest News

HPQ
US$18.95
HP
7D
-2.0%
1Y
-32.1%
HPE
US$21.58
Hewlett Packard Enterprise
7D
0.5%
1Y
46.1%
WDC
US$261.18
Western Digital
7D
0.8%
1Y
521.4%
IONQ
US$33.03
IonQ
7D
-8.3%
1Y
54.6%

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.
DELL
US$149.91
Dell Technologies
7D
2.3%
1Y
62.2%
INFQ
US$10.68
Infleqtion
7D
-4.7%
1Y
n/a
VTIX
US$6.87
Virtuix Holdings
7D
0.7%
1Y
n/a
GPGI
US$17.55
GPGI
7D
-23.8%
1Y
68.9%

GPGI: Issuer Relationships With Premium Card Programs Will Shape Future Upside Potential

Analysts have trimmed their price target on GPGI from $25.50 to $24.20, reflecting slightly lower fair value and modestly softer assumptions on growth and margins, even as they acknowledge potential upside for card manufacturers highlighted in recent Street research. Analyst Commentary Recent Street research on card manufacturers is feeding into the debate around GPGI, especially as large issuers like JPMorgan Chase adjust their credit card partnerships.
NTAP
US$96.93
NetApp
7D
-5.1%
1Y
7.6%

NTAP: Flash And Public Cloud Mix Will Offset Rising Memory Costs

Analysts have nudged their blended price target for NetApp lower to around $118, reflecting recent cuts from firms citing rising memory component costs and pressure on product gross margins, partially offset by expectations for ongoing growth in flash and public cloud revenue. Analyst Commentary Recent research on NetApp reflects a mixed setup, with price targets clustered around the low to mid US$100s and attention firmly on memory costs, product margins and the balance between traditional hardware and higher growth flash and cloud offerings.
AAPL
US$255.76
Apple
7D
-1.7%
1Y
22.0%

Apple will shine with a 6% revenue growth in the next 5 years

Apple Inc. (AAPL) – Investment Narrative Company Overview Apple Inc.
SMCI
US$30.90
Super Micro Computer
7D
-4.2%
1Y
-20.9%

SMCI: AI Data Center Partnerships Will Support Repricing Into 2026

Analysts have made a modest adjustment to their price targets on Super Micro Computer, with changes clustering in a narrow $2 to $11 range as they factor in updated views on AI related demand, valuation, and sector positioning for 2026. Analyst Commentary Recent Super Micro price target moves sit within a relatively tight band, but the tone of the research still gives you useful clues about how the Street is thinking about valuation, execution, and growth into 2026.
STX
US$373.98
Seagate Technology Holdings
7D
1.8%
1Y
336.8%
DBD
US$73.19
Diebold Nixdorf
7D
-6.8%
1Y
75.4%

DBD: Higher Margin Outlook And Buybacks Will Support Future Upside

Narrative Update on Diebold Nixdorf Analysts have lifted their consolidated price target for Diebold Nixdorf by roughly $18, citing updated fair value estimates near $97, a lower discount rate, slightly reduced revenue growth expectations, a higher projected profit margin, and a modestly higher future P/E multiple following recent research from firms including DA Davidson and Wedbush. Analyst Commentary Recent research around Diebold Nixdorf centers on how updated fair value work lines up with execution risk and what investors may be willing to pay for the company over time.
OSS
US$10.15
One Stop Systems
7D
19.7%
1Y
290.4%
SNDK
US$618.82
Sandisk
7D
9.4%
1Y
1,177.5%
TBCH
US$13.36
Turtle Beach
7D
4.6%
1Y
-6.5%