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U.S. Tech Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies985
  • 7D0.6%
  • 3M-7.6%
  • 1Y32.9%
  • YTD-4.6%

The Tech is pretty flat in the last 7 days, but Broadcom has stood out, gaining 8.4%. As for the the longer term, the industry is up 33% over the past 12 months. 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
Tue, 10 Mar 2026US$21.2tUS$2.7tUS$542.3b30.2x39x7.9x
Thu, 05 Feb 2026US$21.5tUS$2.6tUS$530.6b28.7x40.5x8.2x
Sat, 03 Jan 2026US$22.5tUS$2.6tUS$506.7b31x44.3x8.7x
Mon, 01 Dec 2025US$22.6tUS$2.6tUS$494.1b30.2x45.7x8.8x
Wed, 29 Oct 2025US$23.7tUS$2.5tUS$463.2b30.2x51.2x9.5x
Fri, 26 Sep 2025US$22.2tUS$2.5tUS$437.8b31.3x50.7x9x
Sun, 24 Aug 2025US$20.8tUS$2.4tUS$418.9b28.4x49.7x8.6x
Tue, 22 Jul 2025US$20.5tUS$2.4tUS$392.6b29.2x52.2x8.6x
Thu, 19 Jun 2025US$18.7tUS$2.4tUS$391.4b27.5x47.8x7.8x
Sat, 17 May 2025US$18.1tUS$2.4tUS$385.4b27x47x7.7x
Mon, 14 Apr 2025US$15.4tUS$2.3tUS$386.7b24.5x39.8x6.6x
Wed, 12 Mar 2025US$16.1tUS$2.3tUS$384.9b27.3x41.9x6.9x
Fri, 07 Feb 2025US$18.3tUS$2.3tUS$370.5b33.8x49.5x8x
Sun, 05 Jan 2025US$18.6tUS$2.3tUS$366.9b32.7x50.7x8.2x
Tue, 03 Dec 2024US$18.2tUS$2.2tUS$361.3b33.3x50.3x8.1x
Thu, 31 Oct 2024US$17.9tUS$2.2tUS$376.6b29.9x47.5x8.1x
Sat, 28 Sep 2024US$17.2tUS$2.2tUS$378.0b29.7x45.6x7.9x
Mon, 26 Aug 2024US$17.0tUS$2.1tUS$367.7b29.6x46.3x8x
Wed, 24 Jul 2024US$17.0tUS$2.1tUS$363.1b30.8x46.8x8x
Fri, 21 Jun 2024US$17.3tUS$2.1tUS$360.6b29.9x47.9x8.2x
Sun, 19 May 2024US$14.9tUS$2.0tUS$337.1b29.9x44.4x7.3x
Tue, 16 Apr 2024US$14.5tUS$2.0tUS$328.5b27.6x44.3x7.1x
Thu, 14 Mar 2024US$14.9tUS$2.0tUS$325.2b28.1x45.7x7.3x
Sat, 10 Feb 2024US$14.6tUS$2.0tUS$308.2b26.8x47.2x7.2x
Mon, 08 Jan 2024US$12.8tUS$2.1tUS$292.6b26x43.9x6.3x
Wed, 06 Dec 2023US$12.7tUS$2.1tUS$292.7b25x43.3x6.2x
Fri, 03 Nov 2023US$11.5tUS$2.0tUS$277.7b22.8x41.6x5.7x
Sun, 01 Oct 2023US$11.5tUS$2.0tUS$269.8b24.5x42.5x5.6x
Tue, 29 Aug 2023US$11.7tUS$2.0tUS$270.6b24.4x43.3x5.8x
Thu, 27 Jul 2023US$12.3tUS$2.0tUS$260.5b24.8x47.1x6x
Sat, 24 Jun 2023US$11.7tUS$2.0tUS$264.6b24.1x44.2x5.7x
Mon, 22 May 2023US$10.8tUS$2.0tUS$260.8b23.4x41.4x5.3x
Wed, 19 Apr 2023US$10.3tUS$2.0tUS$275.0b22.6x37.4x5.1x
Fri, 17 Mar 2023US$11.2tUS$2.3tUS$299.0b22.2x37.5x4.9x
Price to Earnings Ratio

37.5x


Total Market Cap: US$11.2tTotal Earnings: US$299.0bTotal Revenue: US$2.3tTotal 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 39.0x 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 7.3x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 5.6% 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-1.50%
Tech0.60%
IT5.06%
Software4.46%
Semiconductors-0.14%
Tech Hardware-1.74%
Communications-3.37%
Electronic Equipment and Components-7.51%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 31.5x.
    • Analysts are expecting annual earnings growth of 22.1%, which is higher than its past year's earnings growth of 17.4% per year.
  • Investors are most pessimistic about the Tech Hardware industry, which is trading close to its 3-year average of 32.9x.
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 4.1% per year.
  • In contrast, the Tech Hardware industry is expected to see its earnings grow by 9.4% 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
AVGO BroadcomUS$345.758.4%
+US$127.5b		87.4%PE65.6x
MSFT MicrosoftUS$409.412.7%
+US$80.6b		7.7%PE25.5x
APP AppLovinUS$517.2319.5%
+US$28.4b		117.3%PE50.8x
PLTR Palantir TechnologiesUS$156.437.8%
+US$26.9b		104.8%PE230.2x
SHOP ShopifyUS$133.5011.8%
+US$18.4b		43.9%PE141.4x

Latest News

TXN
US$196.20
Texas Instruments
7D
-6.5%
1Y
5.2%
LITE
US$640.69
Lumentum Holdings
7D
-18.2%
1Y
1,016.0%

LITE: AI Optics Commitments And Nvidia Backing Will Test Execution

Our fair value estimate for Lumentum has been raised from $571.45 to $655.55, reflecting analysts' higher price targets that are tied to increased earnings power expectations and long term purchase commitments from large customers in advanced optical components. Analyst Commentary Recent Street research on Lumentum points to a cluster of higher price targets and fresh long term commitments from large customers, especially in advanced optical components tied to AI data centers.
AVGO
US$345.75
Broadcom
7D
8.4%
1Y
87.4%
IBM
US$253.33
International Business Machines
7D
5.8%
1Y
-1.4%
MSFT
US$409.41
Microsoft
7D
2.7%
1Y
7.7%
GLW
US$129.05
Corning
7D
-18.3%
1Y
186.7%
NOW
US$121.93
ServiceNow
7D
11.4%
1Y
-22.2%
APP
US$517.23
AppLovin
7D
19.5%
1Y
117.3%
INTU
US$473.67
Intuit
7D
13.0%
1Y
-18.3%

Intuit Inc (INTU): The Financial Intelligence OS – Scaling AI-Driven Expert Platforms in 2026.

Intuit (INTU) is currently redefining the financial technology landscape as a "category of one" platform, trading at $433.35 as of the March 6, 2026, market close. The stock has shown recent resilience, climbing 18.3% following a blowout Q2 earnings report that silenced critics concerned about AI disruption.
AAPL
US$259.88
Apple
7D
-1.8%
1Y
14.2%
MU
US$389.32
Micron Technology
7D
-5.7%
1Y
347.1%
SHOP
US$133.50
Shopify
7D
11.8%
1Y
43.9%

SHOP: Rich Multiple And Agentic Commerce Promise Will Shape Near-Term Trading

The analyst price target for Shopify in our model edges up from $110.00 to about $111.12 as analysts weigh a mix of recent target cuts and upgrades, with many still highlighting growth in agentic commerce, AI supported monetization, and the stock's pullback as key parts of their thesis. Analyst Commentary Recent research on Shopify reflects a split view, with some firms upgrading on the stock's pullback and AI and agentic commerce potential, while others are trimming targets or stepping to the sidelines after a strong run.
PLTR
US$156.43
Palantir Technologies
7D
7.8%
1Y
104.8%

Analysis of Palantir Technologies: Commercial Acceleration and Financial Maturity

Palantir Technologies Inc. has evolved from a specialized government contractor into a broad-market software provider.
KLAC
US$1,429.10
KLA
7D
-6.9%
1Y
110.7%

KLAC: AI And DRAM Spending Upswing Will Challenge Lofty P/E Premium

The analyst price target for KLA has inched higher to $1,336 from $1,332, as analysts factor in slightly stronger long term revenue growth, a marginally higher profit margin profile and a small adjustment lower in the discount rate, while keeping future P/E expectations broadly similar. Analyst Commentary Across recent research, most commentary on KLA has centered on higher price targets, upbeat views on wafer fab equipment spending and interest in the upcoming investor day, where some analysts expect long term financial targets to be outlined.
AMAT
US$338.94
Applied Materials
7D
-8.9%
1Y
126.0%

AMAT: Wafer Equipment Upswing And Services Mix Will Support Future Upside

Our fair value estimate for Applied Materials has been raised from $420.71 to $470.00 as analysts lift long term wafer fab equipment growth expectations and highlight the stock as a top pick in semiconductor production equipment. Analyst Commentary Recent Street research around Applied Materials has been heavily skewed toward positive revisions, with a broad group of bullish analysts lifting price targets and, in several cases, upgrading their ratings.
CSCO
US$76.21
Cisco Systems
7D
-4.0%
1Y
22.8%

Cisco Systems, Inc. (CSCO): The AI Breakout – Scaling Networking for the Agentic Era

Cisco Systems (CSCO) is currently trading at $79.46 , representing a powerful 23.9% gain over the last 12 months as the company successfully moves past its post-pandemic "inventory digestion" phase. The market sentiment shifted dramatically following the February 11, 2026, earnings release, where Cisco posted record quarterly revenue of $15.3 billion and a 31% jump in GAAP EPS.