2026년 2월 7일 · Unknown · financial · 출처 Yahoo Finance
Many fast-growing major tech companies are in the hardware sector, but Palantir also screens well for projected sales growth. - MarketWatch photo illustration/iStockphoto
There is a “crisis of confidence” gripping the technology sector, according to a Mizuho analyst. For that reason, investors may want to focus their attention on stocks backed by strong fundamentals.
What started as concerns about the threat of new artificial-intelligence features to traditional software companies ballooned into a selloff that hit the broader tech sector for most of the week. And while stocks bounced on Friday, Mizuho trading-desk analyst Jordan Klein noted that “former leaders” Nvidia NVDA and Broadcom AVGO had been stagnant recently.
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“Tech investors [are] frustrated, angry, worried” that institutional investors own a handful of the same names, that stock valuations are not sustainable and that any bit of news can take down the whole tech trade, he wrote in a note to clients on Thursday.
While some software players rank among the major technology companies that could grow sales the quickest in the coming years, many of the stocks that screen as having fast sales growth are in hardware-adjacent sectors. That helps to illustrate why there’s been a rotation out of software and into hardware plays this year.
To screen large-cap tech stocks, we began with the 70 companies in the S&P 500 information-technology sector XX:SP500.45 and added the 12 in the Nasdaq-100 Technology Sector Index XX:NDXT that are not in the S&P 500 SPX tech sector.
Among the 82 companies, the following 20 are expected to increase their sales the most this year, based on LSEG consensus analyst estimates and adjusted for calendar years for companies whose fiscal reporting periods don’t match the calendar.
Company Projected 2026 sales growth Projected 2-year sales CAGR through 2027 2026 price change through Feb. 5 Forward P/E Forward P/E as of Dec. 31 Sandisk Corp. SNDK 130.9% 68.3% 143% 8.1 13.6 Micron Technology Inc. MU 65.5% 39.7% 34% 9.4 7.9 Palantir Technologies Inc. PLTR 57.6% 50.0% -27% 91.4 173.1 Super Micro Computer Inc. SMCI 54.9% 34.9% 5% 11.3 11.6 Nvidia Corp. NVDA 54.8% 41.3% -8% 21.1 24.5 Broadcom Inc. AVGO 49.6% 42.0% -10% 26.8 31.9 AppLovin Corp. APP 37.0% 31.9% -44% 23.7 45.5 Amphenol Corp. APH 35.6% 23.4% -6% 28.1 31.7 Advanced Micro Devices Inc. AMD 33.6% 37.0% -10% 26.7 33.1 Teradyne Inc. TER 31.6% 25.2% 40% 40.3 36.7 Synopsys Inc. SNPS 31.1% 20.5% -13% 26.9 31.7 DoorDash Inc. DASH 29.9% 24.3% -19% 54.7 70.7 Western Digital Corp. WDC 29.0% 25.6% 51% 21.6 19.6 Seagate Technology Holdings PLC STX 27.7% 22.6% 47% 24.0 20.5 Fair Isaac Corp. FICO 25.4% 21.0% -20% 28.8 38.9 Oracle Corp. ORCL 24.9% 33.4% -30% 17.6 25.2 Meta Platforms Inc. META 24.3% 21.2% 2% 21.9 22.1 Microchip Technology Inc. MCHP 23.9% 21.1% 22% 28.0 28.8 Shopify Inc. SHOP 23.9% 22.9% -31% 56.0 85.9 Marvell Technology Inc. MRVL 23.5% 25.5% -13% 21.2 24.0 Source: LSEG
In comparison, the S&P 500 information-technology sector is expected to show a 17% weighted increase in sales per share this year, with a sales CAGR of 18.5% from 2025 through 2027.
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The table includes a comparison of forward price-to-earnings ratios. Of course, the P/E ratios are down for many of the companies in part because of declining stock prices. But there are four companies whose forward P/E ratios have declined even as their share prices have risen. That’s because their consensus 12-month EPS estimates have risen more quickly. These companies are Sandisk SNDK, Super Micro Computer SMCI, Meta Platforms META and Microchip Technology MCHP.
Half of the companies trade at forward P/E valuations lower than the IT sector’s weighted P/E of 25.7.
It’s not over for software
Palantir Technologies PLTR, which saw its stock fall about 8% this week, has the third-highest projected sales growth of this group, and the highest among software names at 57.6%.
In its earnings report earlier this week, the company guided for 61% revenue growth in 2026 — ahead of the 40% Wall Street analysts were expecting. Wedbush analyst Dan Ives named Palantir as one of his “top tech names to own in 2026” in a Tuesday note, writing that the company could drive “unprecedented traction for its entire portfolio across the federal and commercial landscapes” for the foreseeable future.
See more: Palantir’s stock pops against a bleak software backdrop
Oracle ORCL also saw its stock get pummeled this week as investors worried both about the vulnerability of its enterprise software business and its increasing pile of debt from financing a major part of OpenAI’s data-center buildout. But the company still stands to grow sales at a 33% CAGR over two years as AI business piles in.
The memory market is only getting hotter
Perhaps less surprising is that memory makers Sandisk and Micron Technology MU have the highest estimated sales growth for 2026 in the group, at 130.9% and 65.5%, respectively.
Shortages in the memory market have driven memory and storage stocks higher, as companies have gained more pricing power both from the supply crunch and from offering higher-capacity products that cost more money. Memory and storage makers have also been reluctant to add capacity despite surging demand. They fear eventually having too much supply in what is a typically cyclical market.
Read on:Sandisk’s stock gets ‘one of the most delayed upgrades in history’ after blowo…