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U.S. Tech Sector Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies990
  • 7D-1.4%
  • 3M29.5%
  • 1Y39.9%
  • YTD19.9%

Over the last 7 days, the Tech industry has dropped 1.4%, driven by Microsoft declining 5.1%. On the other hand Intel is actually up 13%. Over the past 12 months, the industry was up 40%. As for the next few years, earnings are expected to grow by 23% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026US$27.5tUS$2.8tUS$618.7b33.6x44.5x9.7x
Sat, 23 May 2026US$21.4tUS$2.8tUS$611.3b35.1x35x7.6x
Mon, 20 Apr 2026US$23.7tUS$2.7tUS$550.6b32.9x43x8.8x
Wed, 18 Mar 2026US$21.3tUS$2.7tUS$542.8b30.7x39.2x7.9x
Fri, 13 Feb 2026US$22.0tUS$2.6tUS$519.4b29.2x42.3x8.4x
Sun, 11 Jan 2026US$22.6tUS$2.6tUS$507.0b32.4x44.5x8.7x
Tue, 09 Dec 2025US$23.1tUS$2.6tUS$496.4b31.5x46.5x9x
Thu, 06 Nov 2025US$23.3tUS$2.5tUS$481.9b30.9x48.4x9.2x
Sat, 04 Oct 2025US$22.8tUS$2.5tUS$439.1b31.7x51.9x9.1x
Mon, 01 Sep 2025US$20.8tUS$2.5tUS$429.3b29.4x48.5x8.5x
Wed, 30 Jul 2025US$20.8tUS$2.4tUS$393.0b28.2x52.9x8.7x
Fri, 27 Jun 2025US$19.4tUS$2.4tUS$393.3b28.4x49.4x8.1x
Sun, 25 May 2025US$17.5tUS$2.4tUS$385.8b26.9x45.5x7.4x
Tue, 22 Apr 2025US$14.9tUS$2.3tUS$386.6b24.3x38.5x6.4x
Thu, 20 Mar 2025US$16.4tUS$2.3tUS$386.8b27.4x42.5x7.1x
Sat, 15 Feb 2025US$18.8tUS$2.3tUS$370.0b32.4x50.7x8.2x
Mon, 13 Jan 2025US$18.0tUS$2.3tUS$367.4b32.3x49.1x8x
Wed, 11 Dec 2024US$18.7tUS$2.3tUS$363.0b33.1x51.5x8.3x
Fri, 08 Nov 2024US$17.9tUS$2.2tUS$354.3b33.1x50.6x8x
Sun, 06 Oct 2024US$17.2tUS$2.2tUS$378.1b29.7x45.4x7.9x
Tue, 03 Sep 2024US$16.8tUS$2.2tUS$378.3b29.7x44.4x7.8x
Thu, 01 Aug 2024US$16.5tUS$2.1tUS$363.9b31.7x45.4x7.8x
Sat, 29 Jun 2024US$16.9tUS$2.1tUS$362.8b29.7x46.6x8x
Mon, 27 May 2024US$15.4tUS$2.1tUS$349.8b30.5x43.9x7.5x
Wed, 24 Apr 2024US$13.9tUS$2.0tUS$328.3b28x42.4x6.8x
Fri, 22 Mar 2024US$14.7tUS$2.0tUS$325.5b28.3x45.3x7.2x
Sun, 18 Feb 2024US$14.2tUS$2.0tUS$310.2b27.5x45.9x7x
Tue, 16 Jan 2024US$13.4tUS$2.0tUS$292.0b26x46x6.5x
Thu, 14 Dec 2023US$13.1tUS$2.1tUS$293.3b25.4x44.6x6.4x
Sat, 11 Nov 2023US$12.1tUS$2.0tUS$279.7b23.4x43.1x5.9x
Mon, 09 Oct 2023US$11.8tUS$2.0tUS$269.8b24.3x43.6x5.8x
Wed, 06 Sep 2023US$12.3tUS$2.0tUS$272.5b24.1x45.1x6x
Fri, 04 Aug 2023US$12.1tUS$2.0tUS$259.8b24.8x46.4x6x
Sun, 02 Jul 2023US$12.0tUS$2.0tUS$260.0b25x46.3x5.9x
Price to Earnings Ratio

46.3x


Total Market Cap: US$12.0tTotal Earnings: US$260.0bTotal 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 7.6x is lower than the industry's current PS ratio of 9.7x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 34% 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 Market-2.31%
Tech-1.40%
Electronic Equipment and Components1.26%
Semiconductors0.37%
Communications-0.64%
Tech Hardware-1.30%
Software-5.31%
IT-6.57%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 34.2x.
    • Analysts are expecting annual earnings growth of 27.6%, which is higher than its past year's earnings growth of 10.6% per year.
  • Investors are most pessimistic about the Software industry, which is trading below its 3-year average of 50.9x.
Forecasted Growth
  • Analysts are most optimistic on the Electronic Equipment and Components industry, expecting annual earnings growth of 28% 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
INTC IntelUS$131.918.9%
+US$54.3b		494.2%PS12.3x
GLW CorningUS$205.8317.3%
+US$26.2b		300.5%PE97.9x
AMD Advanced Micro DevicesUS$519.061.3%
+US$10.7b		262.0%PE171.6x
DELL Dell TechnologiesUS$434.063.5%
+US$9.5b		260.3%PE33.4x
CSCO Cisco SystemsUS$119.742.1%
+US$9.5b		75.6%PE39.5x

Latest News

NVDA
US$198.91
NVIDIA
7D
-2.8%
1Y
28.9%
ARM
US$359.12
Arm Holdings
7D
-14.3%
1Y
128.3%
SHOP
US$114.17
Shopify
7D
5.6%
1Y
0.2%
ORCL
US$157.53
Oracle
7D
-14.2%
1Y
-25.2%
AMD
US$519.06
Advanced Micro Devices
7D
1.3%
1Y
262.0%
AVGO
US$382.08
Broadcom
7D
-2.8%
1Y
44.4%
PLTR
US$113.51
Palantir Technologies
7D
-13.1%
1Y
-20.6%
Seeking Alpha • Jun 23

Palantir: This Selloff Is A Gift

Summary Palantir Technologies Inc. faces near-term pressure from European government contract losses, macro headwinds, and sector-wide selling, but I will reiterate my Buy rating. PLTR’s long-term thesis remains intact, with 11 consecutive quarters of revenue acceleration and unmatched Rule of 40 score that will not weaken given its defensible AI platform. Valuation concerns have eased; PLTR stock trades at 87x FY26 PE, compressing to 39x FY28, with 52–100% potential upside to Wall Street’s “average” and “high” price targets. I am scaling into PLTR in tranches, viewing the selloff as a buying opportunity, while managing downside risk to the $70/share “low” Wall Street price target. Read the full article on Seeking Alpha
WDC
US$644.38
Western Digital
7D
-9.5%
1Y
930.2%
Seeking Alpha • Jun 23

Western Digital Corp: The Next Micron

Summary Western Digital is now a pure-play HDD leader, benefiting from AI-driven hyperscaler demand and long-term supply contracts, and I expect this will push shares higher. WDC's 3Q saw revenue up 45% year over year, gross margin at 50.5%, and free cash flow of $978 million. Contracted demand visibility through 2029, 90% cloud revenue, and firm purchase orders support durable earnings and margin expansion. I'm maintaining the stock with a buy and see potential for long-term upside, but I would recommend adding on pullbacks due to current valuation stretch and overbought technicals. Read the full article on Seeking Alpha
AAPL
US$293.17
Apple
7D
-0.9%
1Y
45.5%
Seeking Alpha • Jun 23

Apple: Hardware Price Hikes May Drive Frontloading, Then Cool-Off (Downgrade)

Summary Apple (AAPL) faces rising hardware costs due to AI-driven memory and storage shortages, prompting imminent price hikes on products. The MacBook Neo's strong launch and budget focus are boosting near-term sales, but frontloading may lead to a subsequent cooling period. AAPL's hardware dependence makes it more vulnerable than peers, with valuation metrics showing the stock as expensive but not unreasonably so. I downgrade AAPL to hold, citing elevated component costs and potential demand restraint, though near-term performance remains solid. Read the full article on Seeking Alpha
DELL
US$434.06
Dell Technologies
7D
3.5%
1Y
260.3%
MU
US$1,047.92
Micron Technology
7D
0.5%
1Y
723.5%
CSCO
US$119.74
Cisco Systems
7D
2.1%
1Y
75.6%
Narrative Update • Jun 23

CSCO: AI Networking Momentum And Security Risks Will Drive Future Returns

The analyst price target for Cisco Systems edges higher, with fair value moving from about $125.82 to $127.05, as analysts point to strong AI and networking order trends, refreshed AI-related targets, and a series of raised Street price objectives clustered in the $112 to $150 range, supported by views that AI infrastructure demand, campus refresh activity, and resilient margins can support the updated assumptions. Analyst Commentary Recent research on Cisco Systems points to a cluster of higher price targets and generally positive commentary around execution in AI networking, campus refresh activity, and optical demand tied to Acacia.
MSFT
US$365.45
Microsoft
7D
-3.6%
1Y
-25.8%
INTC
US$131.91
Intel
7D
8.9%
1Y
494.2%
GLW
US$205.83
Corning
7D
17.3%
1Y
300.5%
ALAB
US$399.92
Astera Labs
7D
6.7%
1Y
346.2%