Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Tech Hardware Industry Analysis

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies50
  • 7D-3.0%
  • 3M29.0%
  • 1Y66.1%
  • YTD21.7%

Over the last 7 days, the Tech Hardware industry has dropped 1.3%, driven by a pullback from Apple of 1.7%. Meanwhile, Dell Technologies actually outperformed within the industry, gaining 5.9% in the last week. In the past year, the industry has gained 70%. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026US$5.2tUS$587.7bUS$138.0b44.8x38x8.9x
Sat, 23 May 2026US$5.2tUS$584.2bUS$136.5b42.8x38.1x8.9x
Mon, 20 Apr 2026US$4.5tUS$556.1bUS$122.6b32x36.6x8.1x
Wed, 18 Mar 2026US$4.1tUS$556.1bUS$122.6b27x33.6x7.4x
Fri, 13 Feb 2026US$4.4tUS$552.8bUS$121.6b28.5x36.5x8x
Sun, 11 Jan 2026US$4.1tUS$514.0bUS$111.8b26.4x36.3x7.9x
Tue, 09 Dec 2025US$4.3tUS$514.1bUS$111.9b26.6x38.8x8.4x
Thu, 06 Nov 2025US$4.2tUS$513.1bUS$114.4b22.4x36.9x8.2x
Sat, 04 Oct 2025US$4.0tUS$504.4bUS$100.3b28.5x40.2x8x
Mon, 01 Sep 2025US$3.6tUS$502.9bUS$100.5b21.6x35.9x7.2x
Wed, 30 Jul 2025US$3.4tUS$500.2bUS$98.6b19.9x34x6.7x
Fri, 27 Jun 2025US$3.1tUS$500.2bUS$98.5b18.5x32x6.3x
Sun, 25 May 2025US$3.0tUS$499.7bUS$99.9b16.5x30.4x6.1x
Tue, 22 Apr 2025US$3.1tUS$494.0bUS$101.2b11.2x30.2x6.2x
Thu, 20 Mar 2025US$3.3tUS$494.0bUS$101.2b16.5x33.1x6.8x
Sat, 15 Feb 2025US$3.8tUS$479.7bUS$100.5b22.1x37.5x7.9x
Mon, 13 Jan 2025US$3.7tUS$473.9bUS$97.2b23.2x38.2x7.8x
Wed, 11 Dec 2024US$3.9tUS$473.9bUS$97.2b21.4x39.8x8.2x
Fri, 08 Nov 2024US$3.5tUS$472.6bUS$98.5b16.2x35.4x7.4x
Sun, 06 Oct 2024US$3.6tUS$466.0bUS$106.7b17.9x33.5x7.7x
Tue, 03 Sep 2024US$3.6tUS$465.4bUS$106.6b21.7x33.8x7.7x
Thu, 01 Aug 2024US$3.5tUS$456.9bUS$103.3b26.5x34.4x7.8x
Sat, 29 Jun 2024US$3.4tUS$457.1bUS$103.3b26.9x33.3x7.5x
Mon, 27 May 2024US$3.1tUS$456.7bUS$103.3b28.1x29.7x6.7x
Wed, 24 Apr 2024US$2.7tUS$457.6bUS$102.7b23.7x26.4x5.9x
Fri, 22 Mar 2024US$2.8tUS$457.8bUS$102.8b26.2x27.1x6.1x
Sun, 18 Feb 2024US$2.9tUS$458.7bUS$102.6b27.9x28.7x6.4x
Tue, 16 Jan 2024US$3.0tUS$454.7bUS$98.6b27.7x30.2x6.5x
Thu, 14 Dec 2023US$3.1tUS$455.3bUS$98.5b26.7x31.7x6.9x
Sat, 11 Nov 2023US$2.9tUS$456.1bUS$98.2b19x29.8x6.4x
Mon, 09 Oct 2023US$2.9tUS$453.8bUS$95.1b23.9x30.1x6.3x
Wed, 06 Sep 2023US$3.1tUS$453.9bUS$95.1b23.2x32.2x6.7x
Fri, 04 Aug 2023US$3.1tUS$454.6bUS$94.7b32.1x33x6.9x
Sun, 02 Jul 2023US$3.1tUS$456.4bUS$95.7b32.3x32.8x6.9x
Price to Earnings Ratio

32.8x


Total Market Cap: US$3.1tTotal Earnings: US$95.7bTotal Revenue: US$456.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 33.7x202420252026
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 39.1x which is higher than its 3-year average PE of 33.7x.
  • The 3-year average PS ratio of 7.2x is lower than the industry's current PS ratio of 9.2x.
Past Earnings Growth
  • The earnings for companies in the Tech industry have grown 13% per year over the last three years.
  • Revenues for these companies have grown 8.8% 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-2.47%
Tech-4.47%
Tech Hardware-2.98%
Tech Hardware Storage and Peripherals-2.98%
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
DELL Dell TechnologiesUS$434.063.5%
+US$9.5b		260.3%PE33.4x
SMCI Super Micro ComputerUS$32.455.8%
+US$1.2b		-34.1%PE16.8x
HPE Hewlett Packard EnterpriseUS$48.751.1%
+US$728.3m		163.7%PE44.8x
QNT QuantinuumUS$71.1013.3%
+US$310.0m		n/aPS138.9x
INFQ InfleqtionUS$14.105.7%
+US$165.8m		n/aPS91.5x

Latest News

SNDK
US$1,914.46
Sandisk
7D
-12.4%
1Y
3,935.5%
SMCI
US$32.45
Super Micro Computer
7D
5.8%
1Y
-34.1%
HPE
US$48.75
Hewlett Packard Enterprise
7D
1.1%
1Y
163.7%
NTAP
US$155.56
NetApp
7D
0.5%
1Y
47.9%
QMCO
US$13.42
Quantum
7D
-14.0%
1Y
47.6%
Narrative Update • Jun 24

QMCO: Cleaner Capital Structure Will Support Measured Future Upside Potential

Analysts have raised their price target on Quantum to $20 from $8, citing the company's elimination of debt, a $100 million capital raise, and the conversion of notes to equity as key factors that reduce perceived financing risk. What’s in the News for Quantum Quantum Corporation reported that for the fourth quarter ended March 31, 2026, it expects revenue of approximately $77.5 million, plus or minus $2 million.
HPQ
US$23.29
HP
7D
0.5%
1Y
-5.1%
Narrative Update • Jun 24

HPQ: AI PCs And Cost Discipline Will Shape Future Upside Potential

HP Inc. moves into this Narrative Update with a higher analyst price target of $29.60 from $25.18, reflecting research that cites recent Q2 earnings resilience, tighter cost management, and revised P/E and margin expectations, even as analysts remain cautious about slower PC unit growth, rising memory costs, and potential pressure in the second half of 2026 and into FY27.
INFQ
US$14.10
Infleqtion
7D
5.7%
1Y
n/a
WDC
US$643.83
Western Digital
7D
-13.7%
1Y
913.7%
Seeking Alpha • Jun 23

Western Digital Corp: The Next Micron

Summary Western Digital is now a pure-play HDD leader, benefiting from AI-driven hyperscaler demand and long-term supply contracts, and I expect this will push shares higher. WDC's 3Q saw revenue up 45% year over year, gross margin at 50.5%, and free cash flow of $978 million. Contracted demand visibility through 2029, 90% cloud revenue, and firm purchase orders support durable earnings and margin expansion. I'm maintaining the stock with a buy and see potential for long-term upside, but I would recommend adding on pullbacks due to current valuation stretch and overbought technicals. Read the full article on Seeking Alpha
AAPL
US$293.08
Apple
7D
-1.7%
1Y
45.8%
Seeking Alpha • Jun 23

Apple: Hardware Price Hikes May Drive Frontloading, Then Cool-Off (Downgrade)

Summary Apple (AAPL) faces rising hardware costs due to AI-driven memory and storage shortages, prompting imminent price hikes on products. The MacBook Neo's strong launch and budget focus are boosting near-term sales, but frontloading may lead to a subsequent cooling period. AAPL's hardware dependence makes it more vulnerable than peers, with valuation metrics showing the stock as expensive but not unreasonably so. I downgrade AAPL to hold, citing elevated component costs and potential demand restraint, though near-term performance remains solid. Read the full article on Seeking Alpha
DELL
US$434.06
Dell Technologies
7D
3.5%
1Y
260.3%
STX
US$993.25
Seagate Technology Holdings
7D
-7.2%
1Y
606.0%
Narrative Update • Jun 23

STX: AI Storage Pricing Euphoria Will Eventually Confront HDD Cycle Reality

Analysts have raised the Seagate Technology Holdings fair value estimate from $375.00 to about $566.86. This reflects a series of higher price targets tied to stronger views on hard disk drive pricing, AI related storage demand and expected margin traction, even as one firm has turned more cautious about how fast pricing assumptions are rising.
DBD
US$83.36
Diebold Nixdorf
7D
3.1%
1Y
57.4%
Narrative Update • Jun 22

DBD: ATM Service Wins And Earnings Momentum Will Support Bullish Re Rating

Analysts kept their $100.00 price target on Diebold Nixdorf unchanged, pointing to only modest tweaks in discount rate, revenue growth, profit margin, and future P/E assumptions that did not materially alter their valuation view. What’s in the News for Diebold Nixdorf Diebold Nixdorf reported Q1 2026 results with revenue 6.03% higher year over year and net profit up about 2.6x, which supported higher analyst forecasts for current quarter earnings per share.
IONQ
US$53.60
IonQ
7D
-2.0%
1Y
40.6%
Analysis Article • Jun 20

IonQ (IONQ) Stock Could Be 1,017.6% Overvalued After Clavis XG Multiplex Launch

IonQ (IONQ) recently introduced Clavis XG Multiplex, a new quantum key distribution product built to run on existing metropolitan fiber networks, aiming to make long term quantum security deployment more practical for enterprise customers. See our latest analysis for IonQ. IonQ’s recent Clavis XG Multiplex launch comes after a volatile run, with a 1-day share price return of 3.40%, a 90-day share price return of 81.25%, and a 1-year total shareholder return of 40.11%, indicating strong but...
OSS
US$16.11
One Stop Systems
7D
-11.4%
1Y
312.0%
Narrative Update • Jun 16

OSS: Defense AI Momentum And Acquisition Optionality Will Shape Measured Upside

For this Narrative Update on One Stop Systems, the analyst fair value estimate has moved from $18 to $19, reflecting recent Street price target increases and analyst comments that indicate greater confidence in the business momentum following management meetings. Analyst Commentary Recent commentary on One Stop Systems reflects a series of upward price target revisions following management meetings, with analysts pointing to higher confidence in the company’s business momentum and execution.
QNT
US$71.10
Quantinuum
7D
13.3%
1Y
n/a
BGIN
US$1.90
Bgin Blockchain
7D
-13.6%
1Y
n/a