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U.S. Tech Sector Analysis

UpdatedJun 06, 2026
DataAggregated Company Financials
Companies1000
  • 7D-5.3%
  • 3M26.8%
  • 1Y44.8%
  • YTD18.9%

Over the last 7 days, the Tech industry has dropped 5.3%, driven by declines in Broadcom and Microsoft of 14% and 7.5%, respectively. On the other hand Marvell Technology is actually up 29%. This takes the industry's 12 month performance to a gain of 45%. As for the next few years, earnings are expected to grow by 22% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 06 Jun 2026US$27.8tUS$2.8tUS$617.3b34.4x45.1x9.8x
Mon, 04 May 2026US$24.5tUS$2.8tUS$572.3b33.2x42.8x8.9x
Wed, 01 Apr 2026US$20.1tUS$2.7tUS$555.3b29.6x36.1x7.4x
Fri, 27 Feb 2026US$22.1tUS$2.7tUS$541.4b30.1x40.8x8.3x
Sun, 25 Jan 2026US$22.2tUS$2.6tUS$500.5b31.1x44.3x8.7x
Tue, 23 Dec 2025US$22.5tUS$2.6tUS$506.8b31.2x44.3x8.7x
Thu, 20 Nov 2025US$22.0tUS$2.5tUS$479.5b29.2x45.9x8.7x
Sat, 18 Oct 2025US$22.6tUS$2.5tUS$439.1b31.2x51.5x9.1x
Mon, 15 Sep 2025US$21.6tUS$2.5tUS$435.6b29.7x49.7x8.8x
Wed, 13 Aug 2025US$21.1tUS$2.4tUS$419.8b28.8x50.3x8.7x
Fri, 11 Jul 2025US$20.2tUS$2.4tUS$393.2b29.4x51.4x8.5x
Sun, 08 Jun 2025US$18.6tUS$2.4tUS$391.8b27.9x47.4x7.8x
Tue, 06 May 2025US$16.7tUS$2.3tUS$385.4b26.1x43.3x7.1x
Thu, 03 Apr 2025US$16.1tUS$2.3tUS$386.8b26.9x41.6x6.9x
Sat, 01 Mar 2025US$17.5tUS$2.3tUS$378.2b29.4x46.3x7.6x
Mon, 27 Jan 2025US$18.7tUS$2.3tUS$365.6b33.9x51.3x8.3x
Wed, 25 Dec 2024US$19.0tUS$2.3tUS$366.9b32.5x51.7x8.4x
Fri, 22 Nov 2024US$18.0tUS$2.2tUS$361.1b32.8x49.8x8x
Sun, 20 Oct 2024US$17.8tUS$2.2tUS$378.2b30.3x47x8.2x
Tue, 17 Sep 2024US$16.8tUS$2.2tUS$375.4b28.5x44.7x7.8x
Thu, 15 Aug 2024US$16.3tUS$2.1tUS$369.8b28x44.1x7.6x
Sat, 13 Jul 2024US$17.5tUS$2.1tUS$363.1b30.9x48.1x8.3x
Mon, 10 Jun 2024US$15.6tUS$2.1tUS$351.2b29.5x44.5x7.6x
Wed, 08 May 2024US$14.5tUS$2.0tUS$335.5b28.9x43.1x7.1x
Fri, 05 Apr 2024US$14.6tUS$2.0tUS$328.6b28.1x44.3x7.1x
Sun, 03 Mar 2024US$14.8tUS$2.0tUS$327.4b28.2x45.3x7.3x
Tue, 30 Jan 2024US$14.1tUS$2.0tUS$295.9b27.1x47.5x6.9x
Thu, 28 Dec 2023US$13.5tUS$2.1tUS$292.5b26.4x46x6.6x
Sat, 25 Nov 2023US$12.7tUS$2.0tUS$290.1b24.9x43.8x6.2x
Mon, 23 Oct 2023US$11.4tUS$2.0tUS$269.7b23.5x42.2x5.6x
Wed, 20 Sep 2023US$11.8tUS$2.0tUS$272.9b24.5x43.3x5.8x
Fri, 18 Aug 2023US$11.5tUS$2.0tUS$264.4b24x43.6x5.7x
Sun, 16 Jul 2023US$12.2tUS$2.0tUS$257.8b25x47.5x6x
Tue, 13 Jun 2023US$11.7tUS$2.0tUS$264.2b24.8x44.3x5.8x
Price to Earnings Ratio

44.3x


Total Market Cap: US$11.7tTotal Earnings: US$264.2bTotal Revenue: US$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Sector Price to Earnings3Y Average 45.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Information Technology 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 45.3x.
  • The 3-year average PS ratio of 7.5x is lower than the industry's current PS ratio of 9.8x.
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 Market-2.90%
Tech-5.27%
Communications-1.67%
Tech Hardware-2.07%
Electronic Equipment and Components-2.28%
IT-3.75%
Semiconductors-6.37%
Software-6.84%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 33.7x.
    • Analysts are expecting annual earnings growth of 27.2%, which is higher than its past year's earnings growth of 10.6% per year.
  • Investors are most pessimistic about the Tech Hardware industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 33.5x.
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 11% per year.
  • In contrast, the Tech Hardware industry is expected to see its earnings grow by 12% 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
MRVL Marvell TechnologyUS$263.4728.5%
+US$51.1b		285.5%PE91.2x
HPE Hewlett Packard EnterpriseUS$49.2014.3%
+US$8.0b		171.7%PE45.2x
TWLO TwilioUS$225.9918.5%
+US$5.4b		85.6%PE329.9x
FTNT FortinetUS$144.684.9%
+US$4.9b		37.9%PE54.2x
CSCO Cisco SystemsUS$121.641.0%
+US$4.8b		84.1%PE40.1x

Latest News

COHR
US$376.99
Coherent
7D
4.3%
1Y
372.8%
MSFT
US$416.67
Microsoft
7D
-7.5%
1Y
-11.4%
AMAT
US$453.01
Applied Materials
7D
0.7%
1Y
171.7%
PLTR
US$135.53
Palantir Technologies
7D
-13.4%
1Y
6.1%
NET
US$250.11
Cloudflare
7D
3.4%
1Y
39.2%
MRVL
US$263.47
Marvell Technology
7D
28.5%
1Y
285.5%
Seeking Alpha • Jun 05

Marvell: Strong Buy, Nvidia's Trillion-Dollar Call Looks Realistic

Summary Marvell Technology is upgraded to strong buy as AI and data center demand drive robust growth and upwardly revised guidance. MRVL's margin pressure is viewed positively, reflecting a shift to high-demand custom silicon with lower margins but strong dollar profits from hyperscalers. Guidance calls for FY2027 revenue of $11.5B (+40%) and FY2028 revenue of $16.5B (+45%), with accelerating growth and margin recovery expected. My price target rises to $375.28, reflecting higher growth expectations, expanded EV/EBITDA multiple, and MRVL's potential to reach a trillion-dollar valuation. Read the full article on Seeking Alpha
AVGO
US$385.73
Broadcom
7D
-13.7%
1Y
56.2%
New Narrative • Jun 05

Broadcom will keep strong with a 30% Revenue Growth Driven by AI Demand

Catalysts Rapid AI XPU ramp — deployment ramps across six major customers (Google, Anthropic, Meta, OpenAI and others) with management expecting multi‑gigawatt deployments in 2027, driving a large increase in chip volume. FY2027 AI chip TAM expansion — management states line‑of‑sight to >$100B of chip revenue in 2027 (chips only), implying outsized revenue growth if customer gigawatt plans materialize.
FTNT
US$144.68
Fortinet
7D
4.9%
1Y
37.9%
HPE
US$49.20
Hewlett Packard Enterprise
7D
14.3%
1Y
171.7%
NVDA
US$205.10
NVIDIA
7D
-2.9%
1Y
44.7%
MU
US$864.01
Micron Technology
7D
-11.0%
1Y
695.9%
New Narrative • Jun 04

Micron’s AI Crown Sits on a Cycle That Hasn’t Changed

I. Industry and Business Model Analysis Micron Technology (NASDAQ: MU) designs, manufactures, and sells memory chips—primarily DRAM (dynamic random-access memory) and NAND flash storage—and high-bandwidth memory (HBM), a specialized DRAM variant critical for AI accelerators.
INTC
US$99.17
Intel
7D
-13.5%
1Y
394.4%
AMD
US$466.38
Advanced Micro Devices
7D
-9.6%
1Y
301.4%
AAPL
US$307.34
Apple
7D
-1.5%
1Y
50.7%
CSCO
US$121.64
Cisco Systems
7D
1.0%
1Y
84.1%
TWLO
US$225.99
Twilio
7D
18.5%
1Y
85.6%
Narrative Update • Jun 03

TWLO: Lofty AI Expectations Will Test Sustained Console Execution Risk

The updated Twilio narrative lifts the fair value estimate from $104.90 to $134.44, reflecting a higher implied future P/E of 64.94 and a lower discount rate. Analysts point to accelerating gross profit dollar growth and growing confidence in the integrated Twilio Console as key supports for higher Street price targets that have moved toward $235.