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U.S. Tech Sector Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies984
  • 7D-2.0%
  • 3M-9.2%
  • 1Y26.8%
  • YTD-9.4%

Over the last 7 days, the Tech industry has dropped 2.0%, driven by a pullback from NVIDIA of 2.4%. In the past year, the industry has gained 27%. Earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Thu, 11 May 2023US$10.4tUS$2.0tUS$261.7b22.8x39.9x5.1x
Sat, 08 Apr 2023US$10.2tUS$2.0tUS$274.9b22.4x37.2x5x
Price to Earnings Ratio

37.2x


Total Market Cap: US$10.2tTotal 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 36.1x 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 Market-0.61%
Tech-2.04%
Tech Hardware0.002%
IT-0.18%
Software-0.89%
Semiconductors-3.30%
Electronic Equipment and Components-3.94%
Communications-6.34%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 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 Tech Hardware industry, which is trading close to its 3-year average of 33.1x.
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 9.5% 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$253.790.9%
+US$31.6b		13.7%PE31.6x
MRVL Marvell TechnologyUS$99.057.2%
+US$5.9b		58.1%PE32.4x
CRM SalesforceUS$186.672.0%
+US$3.4b		-30.9%PE23.1x
SHOP ShopifyUS$118.622.1%
+US$3.2b		21.5%PE125.7x
ACN AccentureUS$198.292.5%
+US$2.9b		-36.8%PE15.9x

Latest News

MRVL
US$99.05
Marvell Technology
7D
7.2%
1Y
58.1%
SHOP
US$118.62
Shopify
7D
2.1%
1Y
21.5%
MU
US$337.84
Micron Technology
7D
-11.6%
1Y
281.3%
AAPL
US$253.79
Apple
7D
0.9%
1Y
13.7%
LRCX
US$213.66
Lam Research
7D
-10.5%
1Y
193.4%
APP
US$398.00
AppLovin
7D
-8.9%
1Y
37.1%
AMAT
US$341.79
Applied Materials
7D
-7.5%
1Y
131.3%

AMAT: WFE Upswing And AI Memory Deals Will Support Future Upside

Applied Materials' analyst price target has been revised upward by a broad group of firms into a higher $300s to low $400s range, with analysts pointing to stronger multi year wafer fab equipment growth forecasts, increasing AI and DRAM related spending expectations, and a more constructive view on secular WFE demand as key supports for the shift. Analyst Commentary Recent Street research on Applied Materials shows a cluster of higher price targets and rating upgrades, with bullish analysts pointing to wafer fab equipment spending expectations, AI and memory related demand, and a more supportive multi year industry view as key drivers.
PANW
US$160.32
Palo Alto Networks
7D
2.0%
1Y
-6.4%
AVGO
US$309.51
Broadcom
7D
-2.9%
1Y
79.9%
NVDA
US$174.40
NVIDIA
7D
-2.4%
1Y
57.9%
CSCO
US$77.59
Cisco Systems
7D
-5.2%
1Y
25.5%
ACN
US$198.29
Accenture
7D
2.5%
1Y
-36.8%

ACN: GenAI Partnerships And AI Adoption Will Drive Enterprise Modernization

Accenture's fair value estimate is adjusted from about $283 to $252, as analysts temper revenue growth and profit margin assumptions and apply a lower future P/E multiple in response to a broad wave of reduced price targets, despite generally constructive views on the latest quarterly performance. Analyst Commentary Recent Street research around Accenture clusters around a common theme, with many firms trimming price targets while still generally acknowledging solid execution and a credible long term story in areas like GenAI and digital transformation.
FTNT
US$81.72
Fortinet
7D
3.0%
1Y
-15.5%
FICO
US$1,067.54
Fair Isaac
7D
7.3%
1Y
-42.9%
CRM
US$186.67
Salesforce
7D
2.0%
1Y
-30.9%

CRM: AI Execution Debt-Funded Buybacks And AI Fears Will Shape Risk Balance

Analysts have kept the fair value estimate for Salesforce steady at $190, while slightly adjusting assumptions such as discount rate, revenue growth, profit margin, and future P/E to reflect mixed Q4 trends, widespread price target cuts across the Street, and increasing focus on the potential of Agentforce and AI driven offerings, alongside softer near term organic growth expectations. Analyst Commentary Street research around the latest Q4 report has turned more cautious, even as many firms still see potential in Salesforce's AI and Agentforce roadmap.
PLTR
US$146.28
Palantir Technologies
7D
-5.5%
1Y
72.7%

My take on Palantir

For me, the story behind this company is the following. I read Alex Carpe's book, The Philosopher in the Valley, and I loved how structured and driven he was.