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U.S. Tech Sector Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies979
  • 7D4.7%
  • 3M-7.5%
  • 1Y48.3%
  • YTD-7.5%

Over the last 7 days, the Tech industry has risen 4.7%, driven by gains from NVIDIA of 5.9%. This takes the industry's 12 month performance to a gain of 48%. Looking forward, earnings are forecast to grow by 20% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 06 Apr 2026US$20.8tUS$2.7tUS$554.9b30x37.6x7.7x
Wed, 04 Mar 2026US$21.4tUS$2.7tUS$539.7b29.5x39.7x8x
Fri, 30 Jan 2026US$22.9tUS$2.6tUS$520.3b30.8x44x8.8x
Sun, 28 Dec 2025US$22.9tUS$2.6tUS$506.9b30.7x45.1x8.8x
Tue, 25 Nov 2025US$21.7tUS$2.6tUS$492.7b29x44x8.4x
Thu, 23 Oct 2025US$22.8tUS$2.5tUS$439.2b30x52x9.1x
Sat, 20 Sep 2025US$22.0tUS$2.5tUS$435.4b31.4x50.4x8.9x
Mon, 18 Aug 2025US$21.1tUS$2.4tUS$418.3b27.8x50.5x8.7x
Wed, 16 Jul 2025US$20.0tUS$2.4tUS$393.2b28.9x50.9x8.4x
Fri, 13 Jun 2025US$18.7tUS$2.4tUS$390.6b28.1x47.8x7.8x
Sun, 11 May 2025US$16.8tUS$2.3tUS$383.7b25.7x43.7x7.1x
Tue, 08 Apr 2025US$14.2tUS$2.3tUS$386.8b24.2x36.6x6.1x
Thu, 06 Mar 2025US$17.0tUS$2.3tUS$378.8b28.9x44.9x7.3x
Sat, 01 Feb 2025US$18.1tUS$2.3tUS$370.8b33.3x48.8x7.9x
Mon, 30 Dec 2024US$18.7tUS$2.3tUS$366.9b32.1x51x8.3x
Wed, 27 Nov 2024US$18.1tUS$2.2tUS$361.4b33.1x50x8x
Fri, 25 Oct 2024US$17.7tUS$2.2tUS$376.4b30x46.9x8.1x
Sun, 22 Sep 2024US$17.0tUS$2.2tUS$375.4b28.8x45.2x7.8x
Tue, 20 Aug 2024US$16.8tUS$2.1tUS$368.0b29.8x45.7x7.9x
Thu, 18 Jul 2024US$17.4tUS$2.1tUS$363.1b31.5x48x8.2x
Sat, 15 Jun 2024US$16.9tUS$2.1tUS$360.4b29.2x46.9x8x
Mon, 13 May 2024US$14.5tUS$2.0tUS$337.0b30.1x43x7.1x
Wed, 10 Apr 2024US$14.6tUS$2.0tUS$328.6b28.8x44.3x7.1x
Fri, 08 Mar 2024US$14.9tUS$2.0tUS$327.8b28.5x45.5x7.3x
Sun, 04 Feb 2024US$14.2tUS$2.1tUS$305.8b26.6x46.3x6.9x
Tue, 02 Jan 2024US$13.4tUS$2.1tUS$292.6b26.1x45.9x6.5x
Thu, 30 Nov 2023US$12.7tUS$2.0tUS$291.1b25.5x43.8x6.2x
Sat, 28 Oct 2023US$11.2tUS$2.0tUS$278.4b22.2x40.1x5.5x
Mon, 25 Sep 2023US$11.5tUS$2.0tUS$273.1b24.4x41.9x5.6x
Wed, 23 Aug 2023US$11.7tUS$2.0tUS$264.8b24.4x44x5.7x
Fri, 21 Jul 2023US$12.3tUS$2.0tUS$257.9b25.3x47.5x6x
Sun, 18 Jun 2023US$11.9tUS$2.0tUS$264.4b24.9x45.2x5.9x
Tue, 16 May 2023US$10.5tUS$2.0tUS$262.3b23x39.9x5.2x
Thu, 13 Apr 2023US$10.1tUS$2.0tUS$274.9b22.8x36.6x5x
Price to Earnings Ratio

36.6x


Total Market Cap: US$10.1tTotal Earnings: US$274.9bTotal 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 37.6x 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 7.4x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 26% per year over the last three years.
  • Revenues for these companies have grown 9.9% 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 Market3.46%
Tech4.66%
Semiconductors5.40%
IT4.94%
Electronic Equipment and Components4.74%
Software4.49%
Communications3.52%
Tech Hardware3.46%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 32.0x.
    • Analysts are expecting annual earnings growth of 22.0%, which is higher than its past year's earnings growth of 15.7% per year.
  • Investors are most pessimistic about the Software industry, which is trading below its 3-year average of 53.0x.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings growth rate of 3.1% per year.
  • In contrast, the Tech Hardware industry is expected to see its earnings grow by 9.7% 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$177.395.9%
+US$239.8b		88.1%PE35.9x
MSFT MicrosoftUS$373.464.7%
+US$123.9b		3.8%PE23.3x
AAPL AppleUS$255.922.9%
+US$104.5b		35.9%PE31.9x
AVGO BroadcomUS$314.554.6%
+US$65.7b		115.0%PE59.6x
INTC IntelUS$50.3816.8%
+US$36.4b		153.8%PS4.8x

Latest News

INTC
US$50.38
Intel
7D
16.8%
1Y
153.8%

Intel's Turnaround Gains Momentum

Apr 05
QCOM
US$126.80
QUALCOMM
7D
-0.2%
1Y
-0.5%

QCOM: Data Center AI Inference Will Offset Handset Weakness Over Time

Analysts have trimmed their QUALCOMM fair value estimate by about $2 to roughly $155, as a series of price target cuts and downgrades, partly offset by a few upgrades highlighting potential in data center and diversification beyond handsets, feeds into slightly lower revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent research on QUALCOMM has turned more mixed, with several firms trimming ratings and price targets while a smaller group highlights potential upside tied to diversification and data center exposure.
MSFT
US$373.46
Microsoft
7D
4.7%
1Y
3.8%

Microsoft Has A Visibility Problem; I'd Rather Wait

Apr 04
AVGO
US$314.55
Broadcom
7D
4.6%
1Y
115.0%
ORCL
US$146.38
Oracle
7D
4.8%
1Y
14.1%

Oracle: Building Immunity To 'SaaSpocalypse' As It Lives Up To Its AI Potential

Apr 02
ENPH
US$34.92
Enphase Energy
7D
-7.7%
1Y
-39.0%
CRCL
US$90.26
Circle Internet Group
7D
-3.6%
1Y
n/a
SNOW
US$151.85
Snowflake
7D
-0.6%
1Y
16.3%

Snowflake: Cheap Enough To Watch, Not Yet Cheap Enough To Buy

Apr 02
PANW
US$163.21
Palo Alto Networks
7D
11.0%
1Y
6.3%
AMD
US$217.50
Advanced Micro Devices
7D
7.7%
1Y
153.6%

AMD: Expanded Meta AI Infrastructure Deal Will Support Future Upside

Analysts have raised their average price target for AMD by $5 to $280, citing expanded multi-year GPU deployments with Meta, reinforced confidence in the MI450/Helio roadmap, and a series of recent research updates that emphasize AI accelerator share gains and deepening ecosystem partnerships. Analyst Commentary Recent research on Advanced Micro Devices clusters around the expanded GPU agreement with Meta, the MI450 and Helio roadmap, and growing partnerships in data center and edge inference.
CIFR
US$12.82
Cipher Digital
7D
-6.7%
1Y
510.5%

CIFR: Long Duration Hyperscale Leases Will Drive Post Mining Data Center Earnings

Analysts have nudged Cipher Digital's fair value estimate slightly higher to $27.10, while trimming Street price targets such as $22 to $20 and $34 to $32 as they factor in lower hash prices, higher spending, an anticipated exit from bitcoin mining in 2027, and a heavier tilt toward long duration lease revenues. Analyst Commentary Street research on Cipher Digital paints a mixed picture, with some analysts leaning into the long term lease story while others focus on execution risk around the pivot away from bitcoin mining.
AAPL
US$255.92
Apple
7D
2.9%
1Y
35.9%

AAPL: Gemini AI Deal And Services Strength Will Balance Margin Pressures

Apple's analyst fair value estimate edges up from $216.94 to $231.03 as analysts weigh higher expected memory and input costs against resilient Services trends, early readthroughs from new lower priced hardware like MacBook Neo and iPhone 17e, and a slightly higher assumed forward P/E of about 30x. Analyst Commentary Recent Street research on Apple reflects a mix of optimism around new products and AI, balanced against practical concerns about costs, regional demand trends, and valuation.
AXTI
US$52.84
AXT
7D
-12.8%
1Y
4,161.3%

AXTI: Export Permit Constraints Will Limit Upside Despite InP Demand Story

AXT's analyst fair value estimate has been raised from $26.00 to $45.00 as analysts factor in expectations for higher revenue, stronger profit margins, and a richer forward P/E multiple supported by rising Street price targets related to InP demand and export permit clarity. Analyst Commentary Recent research on AXT points to a split view, with some caution around near term export permit issues, but also a series of more optimistic calls that connect the story to longer term compound semiconductor demand and valuation support tied to InP exposure.
NVDA
US$177.39
NVIDIA
7D
5.9%
1Y
88.1%
CSCO
US$79.02
Cisco Systems
7D
-1.1%
1Y
44.9%
MSTR
US$119.83
Strategy
7D
-4.9%
1Y
-59.2%