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U.S. Market Analysis & Valuation

UpdatedJul 28, 2026
DataAggregated Company Financials
Companies7767
  • 7D-0.7%
  • 3M3.2%
  • 1Y15.3%
  • YTD6.3%

Over the last 7 days, the market has remained flat, although notably the Consumer Discretionary sector declined by 6.3%. Meanwhile, the market is actually up 15% over the past year. Earnings are forecast to grow by 17% 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
Tue, 28 Jul 2026US$73.8tUS$24.4tUS$2.6t19.1x28.4x3x
Thu, 25 Jun 2026US$79.3tUS$24.3tUS$2.5t19x32.2x3.3x
Sat, 23 May 2026US$72.8tUS$24.2tUS$2.5t18.6x29.5x3x
Mon, 20 Apr 2026US$75.1tUS$23.7tUS$2.3t19.8x32.5x3.2x
Wed, 18 Mar 2026US$70.2tUS$23.7tUS$2.3t18.6x30.6x3x
Fri, 13 Feb 2026US$72.9tUS$23.6tUS$2.3t19.2x31.9x3.1x
Sun, 11 Jan 2026US$73.2tUS$23.2tUS$2.3t19.3x32x3.2x
Tue, 09 Dec 2025US$72.3tUS$23.1tUS$2.3t18.6x31.7x3.1x
Thu, 06 Nov 2025US$71.0tUS$23.0tUS$2.3t18.2x31.1x3.1x
Sat, 04 Oct 2025US$71.0tUS$22.9tUS$2.2t19.3x32.4x3.1x
Mon, 01 Sep 2025US$67.9tUS$22.9tUS$2.2t19.3x31.1x3x
Wed, 30 Jul 2025US$66.8tUS$22.6tUS$2.1t18.4x31.7x3x
Fri, 27 Jun 2025US$63.6tUS$22.5tUS$2.1t18.2x30.3x2.8x
Sun, 25 May 2025US$60.5tUS$22.4tUS$2.1t17.7x28.9x2.7x
Tue, 22 Apr 2025US$54.8tUS$21.9tUS$2.1t16.1x26.4x2.5x
Thu, 20 Mar 2025US$58.7tUS$21.9tUS$2.0t17.7x28.7x2.7x
Sat, 15 Feb 2025US$64.4tUS$21.9tUS$2.0t18.5x31.6x2.9x
Mon, 13 Jan 2025US$61.2tUS$21.9tUS$1.9t18.1x31.8x2.8x
Wed, 11 Dec 2024US$63.9tUS$22.0tUS$1.9t19.4x33.1x2.9x
Fri, 08 Nov 2024US$61.9tUS$21.9tUS$1.9t19x32.8x2.8x
Sun, 06 Oct 2024US$59.8tUS$21.5tUS$1.9t18.4x32x2.8x
Tue, 03 Sep 2024US$58.3tUS$21.5tUS$1.9t18.2x31.3x2.7x
Thu, 01 Aug 2024US$57.4tUS$21.4tUS$1.9t18.3x30.9x2.7x
Sat, 29 Jun 2024US$56.6tUS$21.3tUS$1.8t16.8x30.8x2.7x
Mon, 27 May 2024US$55.0tUS$21.3tUS$1.8t17.2x30.1x2.6x
Wed, 24 Apr 2024US$52.8tUS$21.2tUS$1.8t16.7x28.6x2.5x
Fri, 22 Mar 2024US$54.3tUS$21.1tUS$1.8t16.9x29.5x2.6x
Sun, 18 Feb 2024US$52.3tUS$21.0tUS$1.8t16.4x29.1x2.5x
Tue, 16 Jan 2024US$50.1tUS$21.0tUS$1.8t16.6x28.6x2.4x
Thu, 14 Dec 2023US$48.6tUS$21.0tUS$1.8t16.7x27.7x2.3x
Sat, 11 Nov 2023US$45.3tUS$21.0tUS$1.7t15.4x26.2x2.2x
Mon, 09 Oct 2023US$45.4tUS$21.0tUS$1.7t15.2x26.4x2.2x
Wed, 06 Sep 2023US$47.4tUS$20.9tUS$1.7t15.6x27.6x2.3x
Fri, 04 Aug 2023US$47.7tUS$20.9tUS$1.6t15.8x29.6x2.3x
Price to Earnings Ratio

29.6x


Total Market Cap: US$47.7tTotal Earnings: US$1.6tTotal Revenue: US$20.9tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Market Price to Earnings3Y Average 30.2x202420252026
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 30.2x.
Past Earnings Growth
  • The earnings for American listed companies have grown 17% per year over the last three years.
  • Revenues for these companies have grown 5.4% 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-0.74%
Materials2.94%
Industrials2.50%
Healthcare2.18%
Utilities1.40%
Financials1.37%
Real Estate1.17%
Consumer Staples0.74%
Energy0.46%
Tech-0.84%
Telecom-5.42%
Consumer Discretionary-6.27%
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 18.2%, which is higher than its past year's earnings growth of 14.0% per year.
  • The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 17.6x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 22% over the next 5 years.
  • This is better than its past earnings growth rate of 17% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 8.1% 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
AAPL AppleUS$336.913.2%
+US$151.6b		57.4%PE40.4xTech
JPM JPMorgan ChaseUS$356.205.1%
+US$46.1b		19.4%PB2.7xFinancials
LLY Eli LillyUS$1.20k4.4%
+US$45.1b		48.2%PE42.2xHealthcare
JNJ Johnson & JohnsonUS$265.956.9%
+US$41.9b		60.0%PE30.5xHealthcare
MU Micron TechnologyUS$900.204.0%
+US$39.2b		709.2%PE20.1xTech
See more

Market Insights

Header cover image
Healthcare just hit its lowest market weight since 1994. But dig deeper into the sector, and the collapse starts to look like a costume in some ways.
Continue reading
A brand’s strength doesn’t always last

Latest News

AAPL
US$336.91
Apple
7D
3.2%
1Y
57.4%
JNJ
US$265.95
Johnson & Johnson
7D
6.9%
1Y
60.0%
NVDA
US$196.51
NVIDIA
7D
-3.3%
1Y
11.2%
Seeking Alpha • 7h

Smart CEOs, Bad Returns: Avoid Hyperscaler AI Capex Beneficiaries Like Nvidia

Summary 14 major headwinds for continued Hyperscaler AI capex growth are detailed. AI Capex by Hyperscalers is unsustainably exceeding cash flow, driven by a temporary land rush and mounting headwinds unrelated to technology. Enterprise ROI on AI remains elusive, LLM pricing is dropping, and over half of Hyperscaler backlogs depend on unprofitable buyers like OpenAI and Anthropic. Investor pushback, regulatory risks, and depreciation pressures suggest the AI Capex boom is nearing its limit, with a bust likely by 2027. Read the full article on Seeking Alpha
META
US$593.87
Meta Platforms
7D
-8.0%
1Y
-17.2%
Seeking Alpha • 8h

Meta Platforms: Time To Be Greedy

Summary Meta Platforms, Inc. is attractively valued ahead of Q2 earnings, trading at 17–18x forward earnings versus historical norms above 20x. META has a robust track record of beating earnings expectations, with 13 consecutive quarters of outperformance and potential for another beat this quarter. Revenue growth is driven by user expansion, ad pricing power, and increased ad volume, while capital expenditures—primarily for AI—are not seen as a financial threat. A post-earnings META share price dip due to higher capital spending could present an even more compelling entry point for long-term investors. Read the full article on Seeking Alpha
GOOGL
US$326.56
Alphabet
7D
-7.2%
1Y
69.6%
MU
US$900.20
Micron Technology
7D
4.0%
1Y
709.2%
Seeking Alpha • 9h

Micron: Elon Said Thanks, I'm Still Saying Hold

Summary I'm keeping Micron Technology, Inc. at Hold, the same call I made the day after the print in June. The hyperscaler capex raises last week (and likely this week too) are a strong tailwind for the picks-and-shovels names, but they don't move me off the fence. My view is that part of the money the hyperscalers are adding to their budgets is there because memory got more expensive, not because they're buying more memory. MU's record 84.9% margin is not coming from High Bandwidth Memory. This year, a plain server memory stick has been more profitable per wafer than HBM. CMXT (up a ridiculous 530% in its IPO debut) adds noise in the near term. I don't think the oversupply narrative holds up this year. Read the full article on Seeking Alpha
AMZN
US$231.39
Amazon.com
7D
-7.4%
1Y
-0.6%
MSFT
US$389.10
Microsoft
7D
-3.3%
1Y
-24.1%
Seeking Alpha • 17h

Microsoft: The Market Is Right To Discount The $190 Billion Bet -- For Now

Summary Microsoft Corporation trades at a 22.8x forward P/E, a multi-year low, reflecting a 25% stock decline despite strong fundamentals. MSFT's free cash flow is falling due to $190B in AI capex, while Copilot monetization remains slow with only 3% corporate adoption. The Hold rating for MSFT is justified by the unresolved gap between heavy AI investment and lagging Copilot revenue, with July 29 earnings as a key catalyst. I will turn bullish if Copilot adoption and M365 ARPU accelerate, or bearish if Copilot stalls, Azure growth slows, or capex guidance rises without revenue. Read the full article on Seeking Alpha
TSLA
US$309.22
Tesla
7D
-18.4%
1Y
-3.7%
LLY
US$1,197.53
Eli Lilly
7D
4.4%
1Y
48.2%
Narrative Update • Jul 25

LLY: GLP-1 Leadership And Retatrutide Data Will Shape Balanced Outlook

Eli Lilly's updated fair value estimate of $1,270.37, up from $1,243.43, reflects analysts' higher price targets that lean on expectations for stronger obesity and diabetes franchise contributions, incremental support from retatrutide data, and Q2 previews that factor in relatively higher revenue growth assumptions alongside slightly adjusted long term profit margins and future P/E multiples. Analyst Commentary Recent research on Eli Lilly points to a generally constructive stance from Wall Street, with multiple firms lifting price targets as they reassess the company's obesity and diabetes portfolio, retatrutide data, and Q2 earnings setup.
RTX
US$218.42
RTX
7D
12.3%
1Y
40.0%
Narrative Update • Jul 24

RTX: Backlog Execution And Defense Demand Will Shape Balanced Future Prospects

RTX’s analyst price target has increased to $226.82 from $215.73, as analysts highlight strong Q2 execution, raised multi-year guidance, and support from a $289b backlog with broad-based segment strength. Analyst Commentary Recent research on RTX highlights a mix of optimism around execution and growth, and some caution around valuation and potential headwinds, giving investors a more rounded view of the stock’s risk and reward profile.
XOM
US$154.77
ExxonMobil Holdings
7D
4.3%
1Y
38.9%
SPCX
US$113.50
Space Exploration Technologies
7D
-5.3%
1Y
n/a
DELL
US$426.91
Dell Technologies
7D
11.8%
1Y
218.9%
Narrative Update • Jul 24

DELL: AI Server Frenzy Will Eventually Meet Tight Memory Supply Ceiling

The analyst price target for Dell Technologies has been raised from $321.69 to $381.72. Analysts cite stronger modeled revenue growth, higher profit margins, and tighter AI server supply as key factors supporting the higher valuation and slightly lower discount rate assumptions.
PANW
US$317.32
Palo Alto Networks
7D
-9.0%
1Y
55.2%
JPM
US$356.20
JPMorgan Chase
7D
5.1%
1Y
19.4%
Seeking Alpha • Jul 19

JPMorgan: Deep Value Despite Premium P/B (Rating Upgrade)

Summary J.P. Morgan Chase delivered record Q2 results, beating top and bottom line estimates with strong loan and deposit growth. JPM achieved 10% year-over-year net interest income growth, driven by a $1.5 trillion average loan base and a favorable rate environment. Book value per share reached a new record of $133.01, up 9% year-over-year, supporting JPM's premium valuation versus peers. JPM remains a safe haven, well-positioned to benefit from slow Fed rate cuts and ongoing U.S. financial sector growth. Read the full article on Seeking Alpha