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U.S. Tech Sector Analysis

UpdatedJun 14, 2026
DataAggregated Company Financials
Companies997
  • 7D0.8%
  • 3M26.8%
  • 1Y44.9%
  • YTD19.1%

The Tech is pretty flat in the last 7 days, but Micron Technology has stood out, gaining 14%. As for the the longer term, the industry is up 44% over the past 12 months. Earnings are forecast to grow by 22% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 14 Jun 2026US$26.9tUS$2.8tUS$618.5b35.4x43.5x9.5x
Tue, 12 May 2026US$20.9tUS$2.8tUS$570.2b36.3x36.7x7.5x
Thu, 09 Apr 2026US$21.1tUS$2.7tUS$554.9b31x38.1x7.8x
Sat, 07 Mar 2026US$21.4tUS$2.7tUS$542.3b29.3x39.4x8x
Mon, 02 Feb 2026US$22.1tUS$2.6tUS$528.4b30.3x41.7x8.4x
Wed, 31 Dec 2025US$22.7tUS$2.6tUS$506.8b31.1x44.8x8.8x
Fri, 28 Nov 2025US$22.5tUS$2.6tUS$494.1b29.4x45.4x8.7x
Sun, 26 Oct 2025US$23.3tUS$2.5tUS$463.2b30.7x50.2x9.3x
Tue, 23 Sep 2025US$22.4tUS$2.5tUS$435.4b31.9x51.4x9.1x
Thu, 21 Aug 2025US$20.7tUS$2.4tUS$417.9b27.3x49.5x8.5x
Sat, 19 Jul 2025US$20.5tUS$2.4tUS$392.6b29.1x52.3x8.6x
Mon, 16 Jun 2025US$18.5tUS$2.4tUS$391.0b27.6x47.4x7.8x
Wed, 14 May 2025US$17.6tUS$2.4tUS$383.9b27.3x45.8x7.5x
Fri, 11 Apr 2025US$15.8tUS$2.3tUS$386.8b24.1x40.8x6.8x
Sun, 09 Mar 2025US$16.9tUS$2.3tUS$384.4b28.1x44x7.3x
Tue, 04 Feb 2025US$18.0tUS$2.3tUS$370.8b32.9x48.5x7.9x
Thu, 02 Jan 2025US$18.3tUS$2.3tUS$366.8b31.9x49.8x8.1x
Sat, 30 Nov 2024US$18.2tUS$2.2tUS$361.4b32.9x50.3x8.1x
Mon, 28 Oct 2024US$17.8tUS$2.2tUS$378.1b30.3x47x8x
Wed, 25 Sep 2024US$17.0tUS$2.2tUS$375.4b29x45.2x7.8x
Fri, 23 Aug 2024US$16.9tUS$2.1tUS$367.6b29x46x7.9x
Sun, 21 Jul 2024US$16.7tUS$2.1tUS$363.1b30.7x46x7.9x
Tue, 18 Jun 2024US$17.0tUS$2.1tUS$360.7b29.5x47x8x
Thu, 16 May 2024US$14.7tUS$2.0tUS$337.3b30.9x43.7x7.2x
Sat, 13 Apr 2024US$14.8tUS$2.0tUS$328.5b28x45.1x7.2x
Mon, 11 Mar 2024US$14.7tUS$2.0tUS$325.0b28.2x45.1x7.2x
Wed, 07 Feb 2024US$14.0tUS$2.0tUS$306.7b25.8x45.5x6.9x
Fri, 05 Jan 2024US$12.8tUS$2.1tUS$292.6b25.9x43.8x6.2x
Sun, 03 Dec 2023US$12.8tUS$2.1tUS$292.3b25.4x43.8x6.2x
Tue, 31 Oct 2023US$11.3tUS$2.0tUS$278.1b22.6x40.5x5.5x
Thu, 28 Sep 2023US$11.3tUS$2.0tUS$273.1b24.1x41.5x5.6x
Sat, 26 Aug 2023US$11.7tUS$2.0tUS$270.6b24.4x43.3x5.8x
Mon, 24 Jul 2023US$12.2tUS$2.0tUS$258.1b25.4x47.3x6x
Wed, 21 Jun 2023US$11.9tUS$2.0tUS$264.4b24.9x45x5.8x
Price to Earnings Ratio

45x


Total Market Cap: US$11.9tTotal Earnings: US$264.4bTotal 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 9.4x.
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 Market0.87%
Tech0.77%
Semiconductors5.94%
Electronic Equipment and Components4.48%
Communications1.14%
Tech Hardware-2.80%
IT-3.67%
Software-6.19%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 33.9x.
    • Analysts are expecting annual earnings growth of 26.9%, 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 33.6x.
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
MU Micron TechnologyUS$981.6113.6%
+US$132.6b		749.1%PE45.9x
INTC IntelUS$124.5725.6%
+US$127.7b		518.5%PS11.6x
AMAT Applied MaterialsUS$567.2525.2%
+US$90.7b		232.5%PE52.9x
KLAC KLAUS$254.5431.9%
+US$80.5b		193.4%PE71.2x
LRCX Lam ResearchUS$366.8120.9%
+US$79.4b		309.8%PE68.4x

Latest News

ADBE
US$204.02
Adobe
7D
-18.9%
1Y
-47.9%
MU
US$981.61
Micron Technology
7D
13.6%
1Y
749.1%
Seeking Alpha • 15h

Why I'm Still Holding Every Micron Share

Summary Micron guided Q3 revenue to $33.5 billion and 81% gross margins while customers receive only 50%-66% of demand. The first five-year Strategic Customer Agreement signals improving earnings visibility and reinforces memory's role as a critical AI infrastructure. Q2 generated $11.9 billion in operating cash flow, $6.9 billion in free cash flow, and a record $6.5 billion in net cash position. Despite projected revenue growth from $112 billion to $184 billion by FY2027, Micron trades at a single-digit forward earnings multiple. Read the full article on Seeking Alpha
MSFT
US$390.74
Microsoft
7D
-6.2%
1Y
-17.7%
APP
US$496.77
AppLovin
7D
-10.8%
1Y
36.3%
Seeking Alpha • Jun 13

AppLovin: Conversion Rates Are Rising And So Is The Bull Case

Summary AppLovin demonstrates robust revenue growth, up 59% YoY in Q1’26, driven by AI-powered ad efficiency and expanding beyond gaming. AI enhancements and self-service ad platforms, including AI video generation, are structurally improving conversion rates and monetization opportunities for APP. Morgan Stanley sets a bullish $1,100 price target, citing conversion rate expansion as a key revenue driver, though current evidence suggests this optimism may be premature. Despite competition and execution risks, APP’s valuation appears attractive given strong growth prospects, leading to a maintained BUY rating. Read the full article on Seeking Alpha
AMAT
US$567.25
Applied Materials
7D
25.2%
1Y
232.5%
LRCX
US$366.81
Lam Research
7D
20.9%
1Y
309.8%
IBM
US$272.24
International Business Machines
7D
-4.4%
1Y
-1.8%
CRM
US$165.89
Salesforce
7D
-10.6%
1Y
-35.8%
Seeking Alpha • Jun 12

Salesforce: One Of The Most Inexpensive Companies In The Entire Market After Record Q1 Results

Summary Salesforce delivered record Q1 FY2027 results, with $11.13B in revenue (+13.27% YoY) and non-GAAP EPS of $3.88 (+50% YoY), beating estimates. CRM’s AI and data business ARR surged to $3.4B (+200% YoY), with Agentforce alone at $1.2B ARR (+205% YoY), signaling strong adoption and expansion. The company executed a $27.5B capital return, including a $25B accelerated buyback, reducing diluted share count by 10% YoY and raising FY2027 guidance. Despite robust growth and profitability, CRM trades at 12x forward earnings and <10x FCF, a valuation typically reserved for declining businesses; I remain very bullish. Read the full article on Seeking Alpha
ARM
US$380.81
Arm Holdings
7D
11.0%
1Y
180.9%
KLAC
US$254.54
KLA
7D
31.9%
1Y
193.4%
ORCL
US$184.13
Oracle
7D
-13.8%
1Y
-14.4%
AMD
US$511.57
Advanced Micro Devices
7D
9.7%
1Y
340.4%
INTC
US$124.57
Intel
7D
25.6%
1Y
518.5%
AAPL
US$291.13
Apple
7D
-5.3%
1Y
48.2%
SNDK
US$1,980.10
Sandisk
7D
27.0%
1Y
4,559.1%
PLTR
US$127.99
Palantir Technologies
7D
-5.6%
1Y
-6.8%
Seeking Alpha • Jun 09

Palantir: Even A Historic Quarter Could Not Move The Needle

Summary Palantir remains highly overvalued despite record Q1 results and operational acceleration, justifying my continued Sell rating. PLTR's US revenue surged 104% with strong commercial and government growth, but shares faded as valuation remains the binding constraint. The Nvidia partnership and sovereign AI optionality offer real growth potential, yet are insufficient to justify a P/S of 62.2. Scenario analysis across bull, base, and bear cases implies material downside from current prices, even under optimistic assumptions. Read the full article on Seeking Alpha