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U.S. Tech Sector Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies986
  • 7D-2.0%
  • 3M-6.1%
  • 1Y20.7%
  • YTD-5.9%

Over the last 7 days, the Tech industry has dropped 2.0%, driven by a pullback from NVIDIA of 7.5%. In contrast, Dell Technologies has gained 24%. Over the past 12 months, the industry was up 21%. Looking forward, earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 03 Mar 2026US$21.2tUS$2.7tUS$542.4b29.7x39.1x8x
Thu, 29 Jan 2026US$22.7tUS$2.6tUS$501.0b31.2x45.4x8.9x
Sat, 27 Dec 2025US$22.8tUS$2.6tUS$506.9b30.7x45.1x8.8x
Mon, 24 Nov 2025US$21.6tUS$2.6tUS$492.6b28.5x43.8x8.4x
Wed, 22 Oct 2025US$22.9tUS$2.5tUS$439.2b31.6x52x9.1x
Fri, 19 Sep 2025US$21.8tUS$2.5tUS$435.4b30.9x50x8.8x
Sun, 17 Aug 2025US$21.1tUS$2.4tUS$418.3b27.8x50.5x8.7x
Tue, 15 Jul 2025US$20.0tUS$2.4tUS$393.2b28.7x50.9x8.4x
Thu, 12 Jun 2025US$18.7tUS$2.4tUS$391.8b28x47.6x7.8x
Sat, 10 May 2025US$16.8tUS$2.3tUS$383.7b25.7x43.7x7.1x
Mon, 07 Apr 2025US$14.1tUS$2.3tUS$386.8b24.1x36.4x6x
Wed, 05 Mar 2025US$17.0tUS$2.3tUS$378.7b28.7x44.8x7.3x
Fri, 31 Jan 2025US$18.2tUS$2.3tUS$370.8b33.5x49x8x
Sun, 29 Dec 2024US$18.7tUS$2.3tUS$366.9b32.1x51x8.3x
Tue, 26 Nov 2024US$18.1tUS$2.2tUS$361.3b33.5x50.2x8.1x
Thu, 24 Oct 2024US$17.9tUS$2.2tUS$377.9b29.7x47.4x8.3x
Sat, 21 Sep 2024US$17.1tUS$2.2tUS$375.4b28.7x45.4x7.9x
Mon, 19 Aug 2024US$16.8tUS$2.1tUS$368.0b29.1x45.7x7.9x
Wed, 17 Jul 2024US$17.7tUS$2.1tUS$363.1b32x48.6x8.4x
Fri, 14 Jun 2024US$16.9tUS$2.1tUS$361.8b29.5x46.7x8x
Sun, 12 May 2024US$14.5tUS$2.0tUS$337.1b30.1x43x7.1x
Tue, 09 Apr 2024US$14.6tUS$2.0tUS$328.6b28.6x44.4x7.1x
Thu, 07 Mar 2024US$14.5tUS$2.0tUS$327.8b28.1x44.2x7.1x
Sat, 03 Feb 2024US$14.2tUS$2.1tUS$305.8b26.6x46.3x6.9x
Mon, 01 Jan 2024US$13.4tUS$2.1tUS$292.6b26.1x45.9x6.5x
Wed, 29 Nov 2023US$12.7tUS$2.0tUS$290.3b24.9x43.8x6.2x
Fri, 27 Oct 2023US$11.1tUS$2.0tUS$279.1b22.3x39.9x5.5x
Sun, 24 Sep 2023US$11.5tUS$2.0tUS$273.1b24.4x41.9x5.6x
Tue, 22 Aug 2023US$11.4tUS$2.0tUS$264.5b24.1x43.2x5.6x
Thu, 20 Jul 2023US$12.5tUS$2.0tUS$257.8b25.5x48.6x6.2x
Sat, 17 Jun 2023US$11.9tUS$2.0tUS$264.4b24.9x45.2x5.9x
Mon, 15 May 2023US$10.4tUS$2.0tUS$262.0b22.8x39.5x5.1x
Wed, 12 Apr 2023US$10.1tUS$2.0tUS$275.0b22.8x36.9x5x
Fri, 10 Mar 2023US$10.9tUS$2.3tUS$298.3b22.3x36.4x4.8x
Price to Earnings Ratio

36.4x


Total Market Cap: US$10.9tTotal Earnings: US$298.3bTotal Revenue: US$2.3tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Sector Price to Earnings3Y Average 45.4x202420252026
Current Industry PE
  • Investors are pessimistic on the American Information Technology industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 39.1x which is lower than its 3-year average PE of 45.4x.
  • The industry is trading close to its 3-year average PS ratio of 7.3x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 5.5% 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 sector?

US Market-0.57%
Tech-2.05%
Communications1.68%
Electronic Equipment and Components1.14%
Software-0.10%
Tech Hardware-0.29%
IT-4.14%
Semiconductors-4.37%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 31.3x.
    • Analysts are expecting annual earnings growth of 22.2%, which is higher than its past year's earnings growth of 17.4% per year.
  • Investors are most pessimistic about the Software industry, which is trading below its 3-year average of 53.9x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 24% over the next 5 years.
  • This is better than its past earnings growth rate of 4.1% per year.
  • In contrast, the Tech Hardware industry is expected to see its earnings grow by 9.6% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MSFT MicrosoftUS$398.553.7%
+US$104.6b		2.6%PE24.8x
PLTR Palantir TechnologiesUS$145.1712.7%
+US$39.1b		72.0%PE213.7x
ORCL OracleUS$149.255.6%
+US$22.8b		-7.9%PE27.8x
DELL Dell TechnologiesUS$153.5528.9%
+US$22.8b		60.7%PE17.1x
APP AppLovinUS$432.9813.8%
+US$17.7b		28.4%PE42.5x

Latest News

AVGO
US$318.82
Broadcom
7D
-3.5%
1Y
70.2%
NVDA
US$182.48
NVIDIA
7D
-5.4%
1Y
57.3%
CRWV
US$78.05
CoreWeave
7D
-14.1%
1Y
n/a
IBM
US$239.37
International Business Machines
7D
7.2%
1Y
-4.3%
INTU
US$419.06
Intuit
7D
16.6%
1Y
-30.3%
SNDK
US$619.08
Sandisk
7D
-7.1%
1Y
1,130.5%
DELL
US$153.55
Dell Technologies
7D
28.9%
1Y
60.7%

Dell Technologies (DELL): The AI Architect – A Multi-Billion Dollar Pivot into the "AI Factory" Era

Dell Technologies (DELL) has shattered expectations, cementing its status as the premier infrastructure partner for the generative AI era. Following its blockbuster Q4 fiscal 2026 earnings report on February 26, 2026 , the stock surged nearly 20% to $147.17 in mid-day trading on Friday.
CRM
US$192.95
Salesforce
7D
8.3%
1Y
-34.2%
MSFT
US$398.55
Microsoft
7D
3.7%
1Y
2.6%
MU
US$412.67
Micron Technology
7D
-2.0%
1Y
355.8%
LRCX
US$231.00
Lam Research
7D
-4.7%
1Y
204.8%
PLTR
US$145.17
Palantir Technologies
7D
12.7%
1Y
72.0%

Palantir: High-Quality AI Infrastructure, but Valuation Leaves Little Room for Error

Palantir’s story is about becoming the decision engine inside complex organisations. While it is often described as an artificial intelligence company, its real strength lies in integrating data, software, and operational workflows into systems that organisations depend on to make critical decisions.
ORCL
US$149.25
Oracle
7D
5.6%
1Y
-7.9%

ORCL: AI Infrastructure Buildout And Debt Funding Will Drive Future Upside

Analysts have trimmed their average price targets on Oracle by around $20 to $30. The changes reflect recent rating adjustments and revised expectations for fair value, discount rate, revenue growth, profit margins, and future P/E assumptions.
APH
US$135.16
Amphenol
7D
-8.6%
1Y
113.0%

APH: Future AI And Acquisition Hype Will Likely Cap Share Upside

Our analyst price target for Amphenol has been adjusted from $123.77 to $135.00, with analysts pointing to raised Street targets, support from data center AI exposure, and the planned CommScope Connectivity and Cable Solutions acquisition as key drivers behind the update. Analyst Commentary Recent Street research on Amphenol has leaned constructive, with several large firms lifting price targets and, in one case, moving the stock to an Overweight rating.
APP
US$432.98
AppLovin
7D
13.8%
1Y
28.4%

APP: Higher 2026 Revenue Outlook And Rich Margins Will Support Upside Potential

Analysts have adjusted their price target on AppLovin to $476.89 from $530.78, citing updated assumptions around revenue growth, profit margins, and future P/E multiples. What's in the News AppLovin issued new earnings guidance for the first quarter of 2026, setting expected total revenue in a range of US$1.745b to US$1.775b (Key Developments).
AAPL
US$264.72
Apple
7D
-0.5%
1Y
11.2%

AAPL: Gemini Partnership And AI Roadmap Will Drive Future Upside

Analysts have raised their Apple fair value estimate to $350 from about $283.66, citing Street research that characterizes the recent selloff as unwarranted and highlights a clearer AI roadmap supported by the Google Gemini partnership as well as ongoing checks on demand and margins. Analyst Commentary Recent research points to a generally constructive backdrop around Apple, with many bullish analysts emphasizing AI execution, the Google Gemini partnership, and supportive checks on demand and margins.