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U.S. Tech Sector Analysis

UpdatedMay 25, 2026
DataAggregated Company Financials
Companies998
  • 7D2.2%
  • 3M24.3%
  • 1Y53.0%
  • YTD19.0%

The Tech industry is up 2.2% in the last week, with Apple up 3.7%. In the last 12 months, the industry was up 53%. As for the next few years, earnings are expected to grow by 21% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 25 May 2026US$21.6tUS$2.8tUS$611.2b35.1x35.4x7.7x
Wed, 22 Apr 2026US$23.7tUS$2.7tUS$550.4b33x43.1x8.8x
Fri, 20 Mar 2026US$21.1tUS$2.7tUS$560.2b30.5x37.7x7.8x
Sun, 15 Feb 2026US$21.4tUS$2.6tUS$520.1b29.8x41.1x8.1x
Tue, 13 Jan 2026US$22.6tUS$2.6tUS$507.0b32.1x44.6x8.7x
Thu, 11 Dec 2025US$23.2tUS$2.6tUS$496.6b31.8x46.7x9x
Sat, 08 Nov 2025US$22.9tUS$2.5tUS$477.6b30.5x47.9x9x
Mon, 06 Oct 2025US$22.7tUS$2.5tUS$439.2b31.7x51.8x9.1x
Wed, 03 Sep 2025US$20.7tUS$2.5tUS$429.3b28.7x48.3x8.5x
Fri, 01 Aug 2025US$20.8tUS$2.4tUS$399.7b28.4x52.1x8.7x
Sun, 29 Jun 2025US$19.6tUS$2.4tUS$393.2b28.4x49.8x8.2x
Tue, 27 May 2025US$17.5tUS$2.4tUS$385.8b26.9x45.5x7.4x
Thu, 24 Apr 2025US$15.2tUS$2.3tUS$386.4b25x39.3x6.5x
Sat, 22 Mar 2025US$16.5tUS$2.3tUS$386.8b27.2x42.7x7.1x
Mon, 17 Feb 2025US$18.9tUS$2.3tUS$369.9b32.4x51x8.2x
Wed, 15 Jan 2025US$17.9tUS$2.3tUS$367.2b32.1x48.7x7.9x
Fri, 13 Dec 2024US$18.8tUS$2.3tUS$362.8b32.6x51.7x8.3x
Sun, 10 Nov 2024US$18.3tUS$2.2tUS$352.6b33.3x51.8x8.2x
Tue, 08 Oct 2024US$17.2tUS$2.2tUS$378.1b29.7x45.6x8x
Thu, 05 Sep 2024US$16.1tUS$2.2tUS$378.4b28.4x42.4x7.4x
Sat, 03 Aug 2024US$16.0tUS$2.1tUS$363.4b29.6x43.9x7.5x
Mon, 01 Jul 2024US$16.9tUS$2.1tUS$362.8b30x46.4x8x
Wed, 29 May 2024US$15.4tUS$2.1tUS$349.9b30.5x43.9x7.5x
Fri, 26 Apr 2024US$13.9tUS$2.0tUS$328.7b28.4x42.4x6.8x
Sun, 24 Mar 2024US$14.9tUS$2.0tUS$328.6b27.8x45.4x7.3x
Tue, 20 Feb 2024US$14.2tUS$2.0tUS$310.2b27.5x45.9x7x
Thu, 18 Jan 2024US$13.4tUS$2.0tUS$292.0b25.4x45.8x6.5x
Sat, 16 Dec 2023US$13.4tUS$2.1tUS$293.6b26.5x45.5x6.5x
Mon, 13 Nov 2023US$12.4tUS$2.0tUS$279.7b23.4x44.2x6.1x
Wed, 11 Oct 2023US$11.9tUS$2.0tUS$269.8b25.1x43.9x5.8x
Fri, 08 Sep 2023US$11.9tUS$2.0tUS$272.8b24x43.8x5.9x
Sun, 06 Aug 2023US$11.9tUS$2.0tUS$262.2b25.6x45.4x5.9x
Tue, 04 Jul 2023US$12.0tUS$2.0tUS$258.1b25.2x46.6x5.9x
Thu, 01 Jun 2023US$11.4tUS$2.0tUS$262.7b23.9x43.5x5.6x
Price to Earnings Ratio

43.5x


Total Market Cap: US$11.4tTotal Earnings: US$262.7bTotal Revenue: US$2.0tTotal 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 35.4x 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 7.5x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 33% per year over the last three years.
  • Revenues for these companies have grown 12% 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 Market1.11%
Tech2.23%
Electronic Equipment and Components5.69%
IT5.04%
Tech Hardware4.16%
Communications3.12%
Semiconductors1.88%
Software0.34%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 33.4x.
    • Analysts are expecting annual earnings growth of 26.9%, which is higher than its past year's earnings growth of 13.4% per year.
  • Investors are most pessimistic about the Semiconductors industry, which is trading below its 3-year average of 54.3x.
Forecasted Growth
  • Analysts are most optimistic on the Electronic Equipment and Components industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings growth rate of 13% per year.
  • In contrast, the Tech Hardware industry is expected to see its earnings grow by 11% 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
AAPL AppleUS$308.823.7%
+US$161.3b		58.2%PE37x
ARM Arm HoldingsUS$306.5142.5%
+US$97.2b		141.0%PE360.8x
MU Micron TechnologyUS$751.0010.2%
+US$78.3b		704.3%PE35.1x
AMD Advanced Micro DevicesUS$467.5111.1%
+US$75.9b		323.8%PE154.6x
INTC IntelUS$119.8410.8%
+US$58.7b		497.7%PS11.2x

Latest News

MU
US$751.00
Micron Technology
7D
10.2%
1Y
704.3%
AMD
US$467.51
Advanced Micro Devices
7D
11.1%
1Y
323.8%
DELL
US$295.19
Dell Technologies
7D
24.0%
1Y
163.3%
INTU
US$319.94
Intuit
7D
-20.6%
1Y
-55.6%
MSFT
US$418.57
Microsoft
7D
-1.2%
1Y
-7.0%
NVDA
US$215.33
NVIDIA
7D
-3.1%
1Y
64.0%
AAPL
US$308.82
Apple
7D
3.7%
1Y
58.2%
Seeking Alpha • May 23

Apple Is Priced Like Everything Has To Go Right: It Just Might

Summary I am bullish on Apple, and the last two quarters gave me more reason to defend my bull case. The iPhone 17 cycle is even stronger than I expected, and China is no longer stagnant. That said, I still need WWDC to give me real and specific Siri dates, eligible devices, languages, China handling, and beta availability. To be crystal clear, I want management to rent AI smartly, not burn cash in AI foundational models, copying the likes of Meta. I stay bullish, but at 35x earnings, but Apple now needs a clean Siri rollout to justify the next leg of the bull run. Any negative headlines during WWDC26 may lead me to downgrade. Read the full article on Seeking Alpha
INTC
US$119.84
Intel
7D
10.8%
1Y
497.7%
New Narrative • May 23

Is Intel Still Investable At $60?

INTC Primer: No Equity Dilution Necessary (Part 1) When I first wrote about INTC (link above), the stock was trading at around $20. At the time, Intel could do no right — Pat Gelsinger was fired, Foundry was eating up precious cash flow, the dividend was cut — it was a perfect storm of unfortunate events.
ADI
US$397.07
Analog Devices
7D
-5.1%
1Y
88.7%
LRCX
US$305.35
Lam Research
7D
9.9%
1Y
276.7%
APP
US$481.68
AppLovin
7D
-2.2%
1Y
36.0%
CBRS
US$256.78
Cerebras Systems
7D
-13.4%
1Y
n/a
QCOM
US$238.16
QUALCOMM
7D
17.0%
1Y
63.8%
Narrative Update • May 21

QCOM: AI Data Center Opportunity Will Drive Future Re Rating

Analysts have raised the fair value estimate for Qualcomm to $257.08 from $195.77, citing higher Street price targets around $200 to $220 and a growing focus on the stock's exposure to AI and data center opportunities, even as some remain cautious about handset and Apple-related headwinds. Analyst Commentary Recent Street research on Qualcomm shows a split tape, with some firms turning more cautious on handset exposure while others highlight AI and data center potential as key parts of the story.
AVGO
US$414.14
Broadcom
7D
-1.6%
1Y
81.1%
Seeking Alpha • May 20

Broadcom: You Didn't Miss The Boat

Summary Broadcom (AVGO) remains a Strong Buy as AI-driven capex cycles fuel a multi-year growth inflection, supported by robust partnerships with hyperscale cloud clients. AVGO's AI chip revenue is projected to exceed $100 billion by 2027, driving expected sales from $64 billion in 2025 to over $200 billion within 30 months. Despite a trailing gross profit multiple above 40x, forward growth justifies the premium; even conservative models suggest ~20% annualized returns through 2030. Customer concentration and rising competition from Marvell pose risks, but AVGO's high-margin IP portfolio and design leadership anchor its bullish outlook. Read the full article on Seeking Alpha
ARM
US$306.51
Arm Holdings
7D
42.5%
1Y
141.0%
ADBE
US$244.76
Adobe
7D
-4.3%
1Y
-40.0%
Narrative Update • May 18

ADBE: CEO Transition Will Increase Risk Around AI Subscription Monetization

Analysts have reduced their average price target on Adobe by $70 to $220 per share, citing CEO transition uncertainty, slower annual recurring revenue trends, and rising competitive pressures from AI driven offerings as key reasons for the reset. Analyst Commentary Recent research on Adobe highlights a shift toward more cautious views as multiple bearish analysts reduce price targets and, in some cases, downgrade ratings.