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U.S. Market Analysis & Valuation

UpdatedMar 23, 2026
DataAggregated Company Financials
Companies7745
  • 7D-2.6%
  • 3M-6.1%
  • 1Y13.1%
  • YTD-5.5%

Over the last 7 days, the market has dropped 2.6%, driven by a loss of 2.4% in the Information Technology sector. As for the longer term, the market has actually risen by 13% in the last year. Looking forward, earnings are forecast to grow by 16% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Mar 2026US$68.2tUS$23.7tUS$2.3t18.1x29.6x2.9x
Wed, 18 Feb 2026US$71.9tUS$23.6tUS$2.3t19.4x31.5x3x
Fri, 16 Jan 2026US$73.0tUS$23.2tUS$2.3t19.5x31.9x3.2x
Sun, 14 Dec 2025US$71.8tUS$23.1tUS$2.3t19.1x31.4x3.1x
Tue, 11 Nov 2025US$71.0tUS$23.1tUS$2.3t18.2x31.3x3.1x
Thu, 09 Oct 2025US$70.9tUS$22.9tUS$2.2t19.1x32.4x3.1x
Sat, 06 Sep 2025US$68.3tUS$22.9tUS$2.2t19.1x31.3x3x
Mon, 04 Aug 2025US$65.2tUS$22.7tUS$2.1t18x30.4x2.9x
Wed, 02 Jul 2025US$64.4tUS$22.5tUS$2.1t18.2x30.7x2.9x
Fri, 30 May 2025US$61.5tUS$22.4tUS$2.1t17.8x29.3x2.7x
Sun, 27 Apr 2025US$57.3tUS$22.0tUS$2.1t16.9x27.3x2.6x
Tue, 25 Mar 2025US$59.2tUS$21.9tUS$2.0t17.8x28.9x2.7x
Thu, 20 Feb 2025US$64.5tUS$21.9tUS$2.0t18.6x31.6x3x
Sat, 18 Jan 2025US$62.7tUS$22.1tUS$2.0t18.9x31.9x2.8x
Mon, 16 Dec 2024US$63.7tUS$22.0tUS$1.9t19.1x33x2.9x
Wed, 13 Nov 2024US$62.9tUS$21.9tUS$1.9t19.1x33.3x2.9x
Fri, 11 Oct 2024US$60.0tUS$21.6tUS$1.9t18.1x32.2x2.8x
Sun, 08 Sep 2024US$55.7tUS$21.6tUS$1.9t17.5x30x2.6x
Tue, 06 Aug 2024US$55.4tUS$21.5tUS$1.9t17x29.6x2.6x
Thu, 04 Jul 2024US$57.3tUS$21.3tUS$1.8t16.8x31.2x2.7x
Sat, 01 Jun 2024US$54.2tUS$21.3tUS$1.8t17.3x29.7x2.6x
Mon, 29 Apr 2024US$53.1tUS$21.2tUS$1.8t16.7x28.8x2.5x
Wed, 27 Mar 2024US$54.3tUS$21.1tUS$1.8t16.8x29.4x2.6x
Fri, 23 Feb 2024US$51.9tUS$21.1tUS$1.8t16.4x28.8x2.5x
Sun, 21 Jan 2024US$50.2tUS$21.0tUS$1.7t16.6x28.9x2.4x
Tue, 19 Dec 2023US$49.7tUS$21.0tUS$1.8t16.7x28.3x2.4x
Thu, 16 Nov 2023US$47.0tUS$21.0tUS$1.7t15.9x27.1x2.2x
Sat, 14 Oct 2023US$45.4tUS$21.0tUS$1.7t15.1x26.3x2.2x
Mon, 11 Sep 2023US$46.7tUS$20.9tUS$1.7t15.6x27.2x2.2x
Wed, 09 Aug 2023US$47.9tUS$20.9tUS$1.7t16.1x28.2x2.3x
Fri, 07 Jul 2023US$46.5tUS$21.0tUS$1.7t15.3x28x2.2x
Sun, 04 Jun 2023US$45.3tUS$21.0tUS$1.7t14.8x27.2x2.2x
Tue, 02 May 2023US$43.7tUS$20.7tUS$1.6t14.8x26.7x2.1x
Thu, 30 Mar 2023US$42.7tUS$20.6tUS$1.6t14.9x26.3x2.1x
Price to Earnings Ratio

26.3x


Total Market Cap: US$42.7tTotal Earnings: US$1.6tTotal Revenue: US$20.6tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Market Price to Earnings3Y Average 29.7x202420252026
Current Market PE
  • Investors are relatively neutral on the American market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 29.7x.
Past Earnings Growth
  • The earnings for American listed companies have grown 12% per year over the last three years.
  • Revenues for these companies have grown 4.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the U.S. Market?

US Market-2.61%
Energy2.66%
Financials-0.67%
Tech-2.41%
Industrials-2.50%
Telecom-2.74%
Healthcare-3.03%
Consumer Discretionary-4.37%
Real Estate-4.37%
Consumer Staples-4.56%
Utilities-5.46%
Materials-7.04%
Sector PE
  • Investors favour the Healthcare sector the most for future growth even though it's trading below its 3-year average PE ratio of 65.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 15.8%, which is higher than its past year's earnings growth of 9.1% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 17.8x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 20% over the next 5 years.
  • This is better than its past earnings decline of 1.7% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 8.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
ARM Arm HoldingsUS$132.358.8%
+US$11.3b		6.0%PE175.5xTech
LRCX Lam ResearchUS$228.364.1%
+US$11.2b		192.8%PE45.9xTech
XOM Exxon MobilUS$159.671.6%
+US$10.2b		37.9%PE23.1xEnergy
CVX ChevronUS$201.732.5%
+US$9.8b		22.2%PE32.7xEnergy
MS Morgan StanleyUS$161.473.7%
+US$9.2b		29.9%PE15.8xFinancials
See more

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Latest News

VG
US$15.81
Venture Global
7D
28.7%
1Y
36.6%
ARM
US$132.35
Arm Holdings
7D
8.8%
1Y
6.0%

ARM: AI CPU Inference And PC Design Wins Will Drive Future Upside

Analysts have trimmed the fair value estimate for Arm Holdings by $10 to $205, reflecting slightly softer modeled revenue growth and profit margins, even as recent research highlights ongoing AI driven CPU opportunities and a mix of upgraded and lowered Street price targets. Analyst Commentary Recent research on Arm shows a mix of higher and lower price targets, but several bullish analysts are highlighting AI as a key driver for the story, especially around CPU demand in data centers and inference workloads.
AVGO
US$310.51
Broadcom
7D
-4.4%
1Y
62.4%
CVX
US$201.73
Chevron
7D
2.5%
1Y
22.2%
AMZN
US$205.37
Amazon.com
7D
-3.0%
1Y
1.0%
LLY
US$906.70
Eli Lilly
7D
-8.3%
1Y
4.8%
XOM
US$159.67
Exxon Mobil
7D
1.6%
1Y
37.9%

XOM: Geopolitical Supply Tightness And Cash Returns Will Guide Future Performance

Exxon Mobil's updated analyst price target edges higher from $144.25 to about $151.42, as analysts factor in higher medium term oil price assumptions, tighter expected 2026 crude balances, and a view that the company's cash flow and capital return capacity could benefit from recent commodity price revisions. Analyst Commentary Recent Street research on Exxon Mobil clusters around higher oil price assumptions, Middle East supply risks, and how those factors could feed through to cash generation and capital returns.
MSFT
US$381.87
Microsoft
7D
-4.5%
1Y
-2.9%

MSFT: AI Infrastructure Buildout And Self Sufficiency Will Support Long Duration Leadership

Analysts have made a small cut to the Microsoft analyst price target, trimming fair value by about $1 to $594.62 as they factor in a slightly higher discount rate, modest tweaks to long term revenue growth and profit margin assumptions, and a marginally lower future P/E. Analyst Commentary Recent research on Microsoft presents a mixed but detailed picture, with several firms adjusting price targets and ratings as they recalibrate expectations around AI, capital spending, and long term growth assumptions.
AAPL
US$247.99
Apple
7D
-1.9%
1Y
12.3%
NVDA
US$172.70
NVIDIA
7D
-5.7%
1Y
42.2%
LRCX
US$228.36
Lam Research
7D
4.1%
1Y
192.8%

LRCX: AI Memory Spending Upturn Will Support WFE Cycle Reacceleration

The analyst price target for Lam Research has been raised modestly to reflect a slightly higher fair value estimate of about $275, with analysts pointing to a robust wafer fab equipment spending outlook, stronger DRAM and NAND memory investment expectations, and inclusion on preferred idea lists as key supports for the updated view. Analyst Commentary Recent research coverage on Lam Research has been active, with a series of price target revisions and rating changes clustered around a stronger wafer fab equipment spending backdrop, improving expectations for DRAM and NAND investment, and inclusion on preferred idea lists.
AMAT
US$357.06
Applied Materials
7D
3.1%
1Y
130.4%
MS
US$161.47
Morgan Stanley
7D
3.7%
1Y
29.9%

MS: Buybacks And Lower Credit Costs Will Support Future Upside

Analysts have raised their price target on Morgan Stanley from $169.52 to $195.81. They cite updated assumptions that include revised revenue growth, profit margin, discount rate and future P/E inputs.
TSLA
US$367.96
Tesla
7D
-7.0%
1Y
32.2%

TSLA: AI And Energy Bets Will Confront Auto And Autonomy Execution Risks

Narrative Update: Tesla The updated analyst price target for Tesla shifts slightly to about $422, as analysts factor in modest adjustments to revenue growth, profit margin assumptions, and a somewhat higher discount rate. This comes alongside mixed but generally constructive research that highlights Tesla's role in autonomous driving and energy, while acknowledging execution and cost risks.
KLAC
US$1,498.67
KLA
7D
4.2%
1Y
105.9%

KLAC: AI And DRAM Spending Cycles Will Support Stronger Long Term Outlook

The analyst price target for KLA has been revised higher, with the updated fair value estimate moving from about $1,297 to roughly $1,676 as analysts factor in stronger long term revenue growth, higher profit margin assumptions and KLA's more constructive Investor Day outlook, while views on the appropriate discount rate and future P/E multiple remain fairly similar. Analyst Commentary Recent research has centered on KLA's updated long term framework, higher 2030 financial targets and a reassessment of wafer fab equipment spending, with most firms adjusting price targets and rating views around those themes.
META
US$593.66
Meta Platforms
7D
-5.4%
1Y
-4.1%