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U.S. Tech Hardware Industry Analysis

UpdatedOct 02, 2025
DataAggregated Company Financials
Companies44
  • 7D1.4%
  • 3M20.4%
  • 1Y14.0%
  • YTD6.3%

The Tech Hardware industry is up 1.4% in the last week, with Apple up 1.2%. In the same time, IonQ was down 15%. In the last 12 months, the industry was up 14%. Looking forward, earnings are forecast to grow by 8.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Oct 2025US$4.0tUS$504.4bUS$100.3b29x39.7x7.9x
Sat, 30 Aug 2025US$3.6tUS$502.9bUS$100.5b21.6x36x7.2x
Mon, 28 Jul 2025US$3.3tUS$500.2bUS$98.6b19.8x34x6.7x
Wed, 25 Jun 2025US$3.1tUS$500.2bUS$98.5b18.3x31.7x6.3x
Fri, 23 May 2025US$3.1tUS$499.7bUS$99.9b16.4x31.4x6.3x
Sun, 20 Apr 2025US$3.1tUS$494.0bUS$101.2b11.7x30.2x6.2x
Tue, 18 Mar 2025US$3.3tUS$494.1bUS$101.2b16.7x32.8x6.7x
Thu, 13 Feb 2025US$3.6tUS$479.7bUS$100.5b20.8x36.1x7.6x
Sat, 11 Jan 2025US$3.8tUS$473.9bUS$97.2b23.2x39.1x8x
Mon, 09 Dec 2024US$3.8tUS$473.9bUS$97.2b23.2x39.3x8x
Wed, 06 Nov 2024US$3.5tUS$472.6bUS$98.6b14.9x35.2x7.3x
Fri, 04 Oct 2024US$3.6tUS$466.0bUS$106.7b17.9x33.3x7.6x
Sun, 01 Sep 2024US$3.6tUS$465.4bUS$106.6b21.7x33.8x7.7x
Tue, 30 Jul 2024US$3.5tUS$456.9bUS$103.3b26.1x33.7x7.6x
Thu, 27 Jun 2024US$3.4tUS$457.1bUS$103.3b26.8x32.6x7.4x
Sat, 25 May 2024US$3.0tUS$456.7bUS$103.3b28.1x29.2x6.6x
Mon, 22 Apr 2024US$2.7tUS$457.8bUS$102.9b23.4x26x5.8x
Wed, 20 Mar 2024US$2.9tUS$457.8bUS$102.8b26.9x27.9x6.3x
Fri, 16 Feb 2024US$3.0tUS$458.7bUS$102.6b28.1x29.1x6.5x
Sun, 14 Jan 2024US$3.0tUS$454.7bUS$98.6b27.7x30.2x6.5x
Tue, 12 Dec 2023US$3.1tUS$455.3bUS$98.5b26.7x31.5x6.8x
Thu, 09 Nov 2023US$2.9tUS$452.4bUS$97.0b18.7x30x6.4x
Sat, 07 Oct 2023US$2.9tUS$453.8bUS$95.1b23.9x30.1x6.3x
Mon, 04 Sep 2023US$3.1tUS$453.9bUS$95.1b23.3x32.1x6.7x
Wed, 02 Aug 2023US$3.2tUS$454.6bUS$94.7b32.8x33.7x7x
Fri, 30 Jun 2023US$3.1tUS$456.4bUS$95.7b31.6x32.1x6.7x
Sun, 28 May 2023US$2.8tUS$456.3bUS$95.6b29.3x29.7x6.2x
Tue, 25 Apr 2023US$2.7tUS$460.5bUS$97.1b24.6x27.6x5.8x
Thu, 23 Mar 2023US$2.6tUS$460.6bUS$97.0b24.4x26.5x5.6x
Sat, 18 Feb 2023US$2.5tUS$460.1bUS$97.3b25.4x25.6x5.4x
Mon, 16 Jan 2023US$2.2tUS$467.8bUS$102.0b22.8x21.6x4.7x
Wed, 14 Dec 2022US$2.4tUS$467.8bUS$102.0b23.6x23.4x5.1x
Fri, 11 Nov 2022US$2.4tUS$467.0bUS$104.4b16.5x23.1x5.2x
Sun, 09 Oct 2022US$2.3tUS$460.9bUS$105.2b15.8x22x5x
Price to Earnings Ratio

22x


Total Market Cap: US$2.3tTotal Earnings: US$105.2bTotal Revenue: US$460.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 30.8x202320242025
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 39.6x which is higher than its 3-year average PE of 30.8x.
  • The 3-year average PS ratio of 6.6x is lower than the industry's current PS ratio of 7.9x.
Past Earnings Growth
  • The earnings for companies in the Tech industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 3.1% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the U.S. Tech industry?

US Market0.77%
Tech1.78%
Tech Hardware1.43%
Tech Hardware Storage and Peripherals1.43%
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$255.451.2%
+US$46.6b		12.6%PE38.2x
DELL Dell TechnologiesUS$149.6813.3%
+US$11.5b		31.9%PE20.7x
WDC Western DigitalUS$130.5919.1%
+US$7.3b		96.3%PE28.4x
STX Seagate Technology HoldingsUS$256.8414.8%
+US$7.0b		136.6%PE37.2x
SMCI Super Micro ComputerUS$52.3913.3%
+US$3.7b		26.1%PE29.7x

Latest News

HPQ
US$26.70
HP
7D
-2.9%
1Y
-24.1%
OSS
US$5.25
One Stop Systems
7D
-11.5%
1Y
129.3%
WDC
US$130.59
Western Digital
7D
19.1%
1Y
96.3%
BOXL
US$2.39
Boxlight
7D
-18.4%
1Y
-3.7%
DELL
US$149.68
Dell Technologies
7D
13.3%
1Y
31.9%
FOXX
US$4.44
Foxx Development Holdings
7D
-7.3%
1Y
-53.4%
IONQ
US$63.09
IonQ
7D
-14.6%
1Y
585.8%
STX
US$256.84
Seagate Technology Holdings
7D
14.8%
1Y
136.6%
AAPL
US$255.45
Apple
7D
1.2%
1Y
12.6%
PSTG
US$85.69
Pure Storage
7D
1.0%
1Y
71.7%

Enterprise Data Cloud Adoption Will Unlock New Opportunities

Pure Storage’s analyst price target was raised to $80.22, reflecting increased confidence in sustained revenue growth, enterprise demand, and successful new product traction—particularly in AI and flash storage—despite some margin and competitive concerns. Analyst Commentary Bullish analysts cite Pure Storage’s strong Q2 results, including broad-based outperformance across the product portfolio, repeated revenue acceleration, and consensus-beating revenue/earnings that drove raised FY26 guidance.
NTAP
US$118.50
NetApp
7D
-3.9%
1Y
-3.7%

AI And Hybrid Cloud Migration Will Expand Global Reach

Analysts have raised NetApp’s price target modestly to $119.71, citing resilience in cloud software and enterprise hardware spending offsetting margin weakness and regional softness, while viewing the recent share selloff as overdone. Analyst Commentary Quarterly results were in line with internal expectations, but not as strong as key peers, especially Pure Storage, which is outperforming NetApp.
QUBT
US$18.97
Quantum Computing
7D
-11.4%
1Y
2,773.8%
SMCI
US$52.39
Super Micro Computer
7D
13.3%
1Y
26.1%
SNDK
US$121.12
Sandisk
7D
21.3%
1Y
n/a
HPE
US$24.93
Hewlett Packard Enterprise
7D
1.9%
1Y
21.6%

AI And Hybrid Cloud Shifts Will Transform Digital Infrastructure

Analysts raised Hewlett Packard Enterprise’s price target slightly to $25.82, citing the completed Juniper Networks acquisition’s expected revenue growth, operating synergies, and enhanced AI/networking positioning, though ongoing core business and execution concerns kept optimism in check. Analyst Commentary Bullish analysts raise price targets driven by the completed Juniper Networks acquisition, highlighting improved revenue growth prospects, networking strength, and robust cost and EPS synergies.
PMTS
US$15.22
CPI Card Group
7D
-3.1%
1Y
-32.6%

CPI Card Group Inc. (NASDAQ:PMTS) Looks Inexpensive After Falling 42% But Perhaps Not Attractive Enough

Aug 09
CPI Card Group Inc. (NASDAQ:PMTS) Looks Inexpensive After Falling 42% But Perhaps Not Attractive Enough