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U.S. Tech Sector Analysis

UpdatedApr 30, 2026
DataAggregated Company Financials
Companies977
  • 7D0.7%
  • 3M9.1%
  • 1Y46.7%
  • YTD7.2%

Last week, the Tech industry hasn't moved much but NVIDIA is up 4.8% in that time. As for the the longer term, the industry is up 47% over the past 12 months. Earnings are forecast to grow by 21% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 30 Apr 2026US$19.0tUS$2.7tUS$551.0b32.2x34.5x7x
Sat, 28 Mar 2026US$20.3tUS$2.7tUS$555.5b28.8x36.5x7.5x
Mon, 23 Feb 2026US$21.7tUS$2.6tUS$520.2b29.5x41.7x8.2x
Wed, 21 Jan 2026US$21.9tUS$2.6tUS$500.6b31.2x43.8x8.6x
Fri, 19 Dec 2025US$21.7tUS$2.6tUS$506.9b30.4x42.9x8.4x
Sun, 16 Nov 2025US$22.7tUS$2.5tUS$479.7b29.9x47.3x8.9x
Tue, 14 Oct 2025US$22.2tUS$2.5tUS$439.1b31.7x50.5x8.9x
Thu, 11 Sep 2025US$21.1tUS$2.5tUS$434.9b29.1x48.6x8.6x
Sat, 09 Aug 2025US$21.0tUS$2.4tUS$416.3b28x50.5x8.7x
Mon, 07 Jul 2025US$20.1tUS$2.4tUS$393.2b29.4x51.1x8.4x
Wed, 04 Jun 2025US$18.2tUS$2.4tUS$390.3b27x46.7x7.7x
Fri, 02 May 2025US$16.2tUS$2.3tUS$390.6b25.3x41.4x6.9x
Sun, 30 Mar 2025US$15.9tUS$2.3tUS$385.6b26.8x41.3x6.8x
Tue, 25 Feb 2025US$18.4tUS$2.3tUS$369.5b29.9x49.8x8x
Thu, 23 Jan 2025US$18.5tUS$2.3tUS$366.9b35x50.3x8.2x
Sat, 21 Dec 2024US$18.3tUS$2.3tUS$366.9b31.6x49.8x8.1x
Mon, 18 Nov 2024US$17.7tUS$2.2tUS$351.2b31.6x50.4x7.9x
Wed, 16 Oct 2024US$17.6tUS$2.2tUS$378.2b30.2x46.4x8.1x
Fri, 13 Sep 2024US$16.6tUS$2.2tUS$375.1b28.1x44.1x7.7x
Sun, 11 Aug 2024US$15.7tUS$2.1tUS$369.8b27.3x42.4x7.3x
Tue, 09 Jul 2024US$17.6tUS$2.1tUS$362.9b30.7x48.4x8.3x
Thu, 06 Jun 2024US$15.3tUS$2.1tUS$351.2b29.9x43.5x7.4x
Sat, 04 May 2024US$14.3tUS$2.0tUS$336.2b28.2x42.4x7x
Mon, 01 Apr 2024US$14.8tUS$2.0tUS$328.6b28.2x44.9x7.2x
Wed, 28 Feb 2024US$14.5tUS$2.0tUS$324.1b28x44.6x7.1x
Fri, 26 Jan 2024US$14.2tUS$2.0tUS$292.7b26.6x48.4x6.9x
Sun, 24 Dec 2023US$13.4tUS$2.1tUS$292.5b25.9x45.8x6.5x
Tue, 21 Nov 2023US$12.6tUS$2.0tUS$282.0b24.5x44.8x6.2x
Thu, 19 Oct 2023US$11.6tUS$2.0tUS$270.2b24.5x43.1x5.7x
Sat, 16 Sep 2023US$11.9tUS$2.0tUS$272.6b24.3x43.8x5.8x
Mon, 14 Aug 2023US$11.6tUS$2.0tUS$263.4b24.7x43.9x5.7x
Wed, 12 Jul 2023US$11.9tUS$2.0tUS$257.8b25.1x46.3x5.9x
Fri, 09 Jun 2023US$11.4tUS$2.0tUS$264.2b24.5x43.2x5.6x
Sun, 07 May 2023US$10.4tUS$2.0tUS$262.0b22.5x39.5x5.1x
Price to Earnings Ratio

39.5x


Total Market Cap: US$10.4tTotal Earnings: US$262.0bTotal Revenue: US$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Tech Sector Price to Earnings3Y Average 45.5x202420252026
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 34.5x which is lower than its 3-year average PE of 45.5x.
  • The industry is trading close to its 3-year average PS ratio of 7.4x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 28% per year over the last three years.
  • Revenues for these companies have grown 10% 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-0.18%
Tech0.70%
Semiconductors2.94%
Tech Hardware-0.35%
Software-0.67%
Communications-1.51%
Electronic Equipment and Components-3.76%
IT-5.40%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 32.8x.
    • Analysts are expecting annual earnings growth of 21.5%, which is higher than its past year's earnings growth of 14.3% per year.
  • Investors are most pessimistic about the Semiconductors industry, which is trading below its 3-year average of 54.2x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings growth rate of 7.6% 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
NVDA NVIDIAUS$209.254.8%
+US$233.5b		87.5%PE42.3x
INTC IntelUS$94.7545.2%
+US$148.5b		371.4%PS8.9x
MSFT MicrosoftUS$424.462.1%
+US$64.7b		-0.2%PE26.4x
AMD Advanced Micro DevicesUS$337.1110.4%
+US$51.8b		248.8%PE128.7x
MU Micron TechnologyUS$518.466.4%
+US$34.9b		573.8%PE24.2x

Latest News

MSFT
US$424.46
Microsoft
7D
2.1%
1Y
-0.2%
QCOM
US$156.00
QUALCOMM
7D
16.5%
1Y
15.4%
NOW
US$88.89
ServiceNow
7D
-13.8%
1Y
-53.5%
TER
US$306.33
Teradyne
7D
-20.5%
1Y
312.8%
STX
US$643.30
Seagate Technology Holdings
7D
10.9%
1Y
606.7%

Seagate: The Biggest Risk Is Buying At The Top Of The Industry Capex Cycle

Apr 30
IBM
US$227.10
International Business Machines
7D
-9.8%
1Y
-6.1%
GLW
US$151.90
Corning
7D
-10.0%
1Y
242.3%
AAPL
US$270.17
Apple
7D
-1.2%
1Y
26.7%

Apple: Tim Cook Exits At The Top

Apr 29
INTC
US$94.75
Intel
7D
45.2%
1Y
371.4%

INTC: Advanced Packaging Execution Will Eventually Confront Elevated Expectations

Intel's updated analyst price target moves from $47.11 to $75.42 as analysts factor in higher modeled revenue growth, wider profit margins, a lower assumed discount rate, and a reduced future P/E estimate. Analyst Commentary Recent research activity around Intel has been heavy, with many firms revisiting their models and price targets.
SNDK
US$1,064.21
Sandisk
7D
14.1%
1Y
3,165.4%
MU
US$518.46
Micron Technology
7D
6.4%
1Y
573.8%

MU: AI Memory Tightness For Data Centers Will Define Next Supercycle

Analysts have lifted their implied fair value estimate for Micron Technology from about $523 to roughly $780, citing higher projected revenue growth, stronger profit margins and a lower assumed future P/E multiple, supported by a wave of recent price target increases and generally constructive research on AI driven memory demand. Analyst Commentary Recent research on Micron points to a generally constructive tone around AI driven memory demand, even as a few firms have turned more cautious or shifted their top picks elsewhere in semiconductors.
AVGO
US$405.45
Broadcom
7D
-4.1%
1Y
110.7%

Broadcom: Isn't An Nvidia Killer, But It's A Growth Superstar Within The AI Ecosystem

Apr 27
NVDA
US$209.25
NVIDIA
7D
4.8%
1Y
87.5%

Nvidia: The $31 Billion Footnote Nobody's Talking About

Apr 27
AMAT
US$382.59
Applied Materials
7D
-5.3%
1Y
156.8%

AMAT: Future Packaging Demand And WFE Cycle Strength Will Shape Returns

Applied Materials' updated analyst price target has edged higher, with fair value moving from about $398.73 to $422.97 as analysts factor in slightly stronger revenue growth, a modestly higher profit margin outlook, and a richer future P/E assumption, partly supported by a broad wave of recent price target hikes and upgrades across the Street. Analyst Commentary Recent Street research around Applied Materials has been active, with a long list of price target increases and several rating upgrades clustered around recent results and guidance.
AMD
US$337.11
Advanced Micro Devices
7D
10.4%
1Y
248.8%

AMD Bulls Went Too Far, Too Fast

Apr 25
ORCL
US$163.83
Oracle
7D
-12.6%
1Y
16.4%

ORCL: AI Data Center Expansion And Financing Will Drive Future Upside

Analysts have trimmed the Oracle price target by about $11 to reflect slightly higher discounting, lower projected profit margins and a modestly lower future P/E multiple, even as revenue growth expectations are supported by recent Q3 beats, raised long term revenue goals and broadly constructive research commentary. Analyst Commentary Street research on Oracle clusters around strong Q3 execution, rising long term cloud ambitions and a reset in valuation assumptions after a sharp selloff.