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U.S. Tech Hardware Industry Analysis

UpdatedApr 03, 2026
DataAggregated Company Financials
Companies51
  • 7D1.9%
  • 3M-2.5%
  • 1Y34.4%
  • YTD-2.5%

Over the last 7 days, the Tech Hardware industry has risen 1.9%, driven by gains from Apple of 1.2%. In the last 12 months, the industry was up 34%. Looking forward, 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
Fri, 03 Apr 2026US$4.2tUS$556.2bUS$122.6b25.3x34x7.5x
Sun, 01 Mar 2026US$4.3tUS$553.2bUS$122.7b26.9x34.9x7.7x
Tue, 27 Jan 2026US$3.9tUS$514.0bUS$111.8b31.7x35.1x7.6x
Thu, 25 Dec 2025US$4.3tUS$514.1bUS$111.9b23.3x38.2x8.3x
Sat, 22 Nov 2025US$4.1tUS$512.7bUS$113.1b24x36.5x8.1x
Mon, 20 Oct 2025US$4.0tUS$504.4bUS$100.3b27.1x39.5x7.8x
Wed, 17 Sep 2025US$3.7tUS$504.4bUS$100.3b25.4x36.9x7.3x
Fri, 15 Aug 2025US$3.6tUS$502.7bUS$100.7b20.4x35.9x7.2x
Sun, 13 Jul 2025US$3.3tUS$500.2bUS$98.6b19.8x33.5x6.6x
Tue, 10 Jun 2025US$3.2tUS$500.2bUS$98.5b17.7x32.2x6.4x
Thu, 08 May 2025US$3.1tUS$499.4bUS$101.9b13.1x30.1x6.2x
Sat, 05 Apr 2025US$3.1tUS$494.0bUS$101.2b12.3x31.1x6.4x
Mon, 03 Mar 2025US$3.8tUS$492.7bUS$100.5b17.8x37.4x7.6x
Wed, 29 Jan 2025US$3.6tUS$473.7bUS$97.2b22.4x36.9x7.6x
Fri, 27 Dec 2024US$4.0tUS$473.9bUS$97.2b25.7x41.5x8.5x
Sun, 24 Nov 2024US$3.6tUS$472.7bUS$96.5b21.8x37.3x7.6x
Tue, 22 Oct 2024US$3.7tUS$466.0bUS$106.8b19.9x34.7x7.9x
Thu, 19 Sep 2024US$3.4tUS$466.0bUS$106.7b18.6x32x7.3x
Sat, 17 Aug 2024US$3.6tUS$465.1bUS$106.8b24.1x33.3x7.6x
Mon, 15 Jul 2024US$3.7tUS$457.1bUS$103.3b27.2x35.8x8.1x
Wed, 12 Jun 2024US$3.1tUS$457.1bUS$103.2b26.2x30.2x6.8x
Fri, 10 May 2024US$2.9tUS$456.8bUS$103.2b28.2x28.5x6.4x
Sun, 07 Apr 2024US$2.8tUS$457.8bUS$102.9b24.5x27x6.1x
Tue, 05 Mar 2024US$2.9tUS$457.8bUS$102.6b26.8x27.9x6.2x
Thu, 01 Feb 2024US$3.0tUS$456.3bUS$98.7b29.4x30.6x6.6x
Sat, 30 Dec 2023US$3.1tUS$455.3bUS$98.5b26.2x31.6x6.8x
Mon, 27 Nov 2023US$3.0tUS$456.1bUS$98.1b21.8x31x6.7x
Wed, 25 Oct 2023US$2.8tUS$453.8bUS$95.1b21.1x29.3x6.1x
Fri, 22 Sep 2023US$2.8tUS$453.9bUS$95.1b20.2x29.5x6.2x
Sun, 20 Aug 2023US$2.8tUS$454.0bUS$95.2b25.1x29.6x6.2x
Tue, 18 Jul 2023US$3.1tUS$456.4bUS$95.7b32.3x32.3x6.8x
Thu, 15 Jun 2023US$3.0tUS$456.4bUS$95.7b30.7x31.2x6.5x
Sat, 13 May 2023US$2.8tUS$456.5bUS$95.7b24.9x29.1x6.1x
Mon, 10 Apr 2023US$2.7tUS$460.6bUS$97.1b24x27.6x5.8x
Price to Earnings Ratio

27.6x


Total Market Cap: US$2.7tTotal Earnings: US$97.1bTotal Revenue: US$460.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Hardware Industry Price to Earnings3Y Average 33.1x202420252026
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 33.1x.
  • 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 6.5% 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 Market1.90%
Tech2.41%
Tech Hardware1.89%
Tech Hardware Storage and Peripherals1.89%
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$255.921.2%
+US$44.5b		26.0%PE31.9x
SNDK SandiskUS$701.5916.3%
+US$14.5b		1,733.7%PS11.6x
STX Seagate Technology HoldingsUS$429.3613.4%
+US$11.3b		500.3%PE48.8x
WDC Western DigitalUS$294.977.9%
+US$7.3b		763.7%PE25.3x
SMCI Super Micro ComputerUS$23.224.5%
+US$606.5m		-28.2%PE16x

Latest News

DELL
US$174.37
Dell Technologies
7D
-0.8%
1Y
125.8%

Dell: Long Growth Runway Plus Lean Valuation Equals Buy

Apr 02
HPE
US$24.61
Hewlett Packard Enterprise
7D
-1.8%
1Y
79.9%

HPE: Juniper Merger And AI Networking Execution Will Drive Future Upside

Analysts have nudged the fair value estimate for Hewlett Packard Enterprise to $32.00 from $31.00, reflecting updated views on revenue growth, profit margins, and P/E assumptions following a series of recent price target revisions across the Street. Analyst Commentary Recent Street research around Hewlett Packard Enterprise reflects a generally constructive tone, with several bullish analysts lifting price targets and highlighting specific execution and growth drivers alongside the updated fair value estimate of US$32.00.
STX
US$429.36
Seagate Technology Holdings
7D
13.4%
1Y
500.3%

STX: AI Data Storage Cycle And Supply Discipline Will Support Future Margin Durability

The analyst price target for Seagate Technology Holdings has been raised from about $475 to roughly $483. Analysts cite stronger profitability assumptions, slightly higher revenue growth expectations, a modestly lower discount rate, and the use of a lower future P/E multiple in their models as supporting factors for this adjustment.
WDC
US$294.97
Western Digital
7D
7.9%
1Y
763.7%

There's A Storage Problem With AI Inference - And Western Digital Knows It

Apr 02
HPQ
US$19.51
HP
7D
1.0%
1Y
-18.0%
AAPL
US$255.92
Apple
7D
1.2%
1Y
26.0%

AAPL: Gemini AI Deal And Services Strength Will Balance Margin Pressures

Apple's analyst fair value estimate edges up from $216.94 to $231.03 as analysts weigh higher expected memory and input costs against resilient Services trends, early readthroughs from new lower priced hardware like MacBook Neo and iPhone 17e, and a slightly higher assumed forward P/E of about 30x. Analyst Commentary Recent Street research on Apple reflects a mix of optimism around new products and AI, balanced against practical concerns about costs, regional demand trends, and valuation.
SNDK
US$701.59
Sandisk
7D
16.3%
1Y
1,733.7%
PSTG
US$62.48
Everpure
7D
0.7%
1Y
52.9%

PSTG: Accelerating Bookings And AI Demand Will Support Future Premium P/E

Narrative Update Everpure's analyst fair value estimate has been revised from $120.00 to $105.00. Analysts are balancing stronger bookings trends and guidance with tighter assumptions on revenue growth, margins, and future P/E multiples observed in recent Pure Storage research.
XRX
US$1.26
Xerox Holdings
7D
-12.5%
1Y
-69.9%
QUBT
US$6.87
Quantum Computing
7D
-3.5%
1Y
-9.2%
TBCH
US$10.16
Turtle Beach
7D
-9.0%
1Y
-16.9%

TBCH: Softer Accessory Demand And GTA 6 Timing Will Shape Earnings Outlook

Analysts now set a consolidated price target of $11 for Turtle Beach, reduced from prior targets as they factor in weaker Q4 results, softer near-term guidance, and a more competitive gaming accessories market, while also acknowledging margin preservation efforts and potential demand around key game releases later in the year. Analyst Commentary Recent research paints a mixed picture for Turtle Beach, with several bearish analysts cutting their price targets and highlighting execution and growth risks following weaker Q4 results and cautious guidance.
OSS
US$7.64
One Stop Systems
7D
-10.5%
1Y
255.3%

OSS: Bressner Sale And New Defense Awards Will Reshape Future M&A Use

Analysts have lifted their price targets on One Stop Systems by up to $4, citing the $22.4m sale of Bressner Technology, expectations reflected in higher projected revenue growth, and an updated fair value estimate of $12.67. Analyst Commentary Recent price target changes on One Stop Systems center on the $22.4m sale of Bressner Technology and how that transaction might affect future execution and valuation.
SMCI
US$23.22
Super Micro Computer
7D
4.5%
1Y
-28.2%
NTAP
US$103.35
NetApp
7D
-1.1%
1Y
26.6%
KODK
US$11.25
Eastman Kodak
7D
26.7%
1Y
99.8%
IONQ
US$29.30
IonQ
7D
-1.8%
1Y
26.0%

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.