Tech Hardware Industry Report: Companies, KPIs & Market Data

Tech Hardware

PCs, printers, contract manufacturers, phone chips, US solar modules, and the IT channel. Not AI chips or data-center networking. Apple, Dell, HPE, Western Digital, and Seagate also appear on other Sterling pages.

Data updated 2026-08-26

The Tech Hardware sector on Sterling tracks 14 companies.

Who is on Tech Hardware (14 companies)

Latest completed fiscal-year sales. Apple is an order of magnitude larger than anyone else. Dell, HPE, Western Digital, and Seagate also appear on Data Centers. Skyworks makes radio chips for phones.

These companies are five different businesses

Most of the dollars are PCs, phones, and printers (Apple products, HP, Garmin, and Dell's PC division). Servers, enterprise storage, and hard drives are next, and those companies also appear on Data Centers. Contract manufacturers, IT distributors, and solar plus phone chips are much smaller, and they make money differently.

Apple is a $307B product company sitting on a $109B Services business

FY2025 product sales were $307.0B. Services were $109.2B. Apple sits on this page as a device maker. Services is shown so the mix is complete.

PC revenue at Dell, HP, and Apple

Dell's PC division was $48.4B, HP PCs $38.5B, Apple Mac $33.7B. Fiscal year-ends differ. These are sales dollars from company filings, not Gartner unit counts. HP and Dell do not publish matching PC unit volumes in the tables used here.

Servers, storage, and hard drives that also sit on Data Centers

Dell's server and storage division was $43.6B, HPE $34.3B, Western Digital continuing operations $9.5B, Seagate $9.1B. These companies also appear on Data Centers. This chart is sales dollars, not cooling, compute share, or hard-drive capacity.

The PC cycle turned up in 2025

Gartner counted 270 million traditional PCs in 2025, up 9.1 percent. IDC's 2024 print was 17 million units above Gartner's original 2024 figure. The houses disagree on the level. They agree 2025 was the refresh year.

Apple still sells most of its hardware in the Americas and Europe

FY2025: Americas $178B, Europe $111B, Greater China $64B. Greater China declined year over year. Americas and Europe grew.

HP Printing still earns more profit than PCs

FY2025 segment earnings: Printing $3.12B on $16.7B sales. PCs $2.05B on $38.5B sales. Print is smaller in revenue and larger in profit.

Margins show these are not the same kind of hardware business

Verisign's domain registry, Apple's platform, First Solar's US solar modules, and Garmin earn 25 to 68 percent operating margins. PC makers and contract manufacturers earn 4 to 7 percent. Same sector page. Not the same business.

Companies in the Tech Hardware sector (14)

Frequently asked questions

What is the Tech Hardware sector?

Which companies lead the Tech Hardware sector?

Sterling tracks 14 companies in Tech Hardware, led by Flex Ltd. (FLEX), Jabil (JBL), Gartner (IT), Verisign (VRSN), First Solar (FSLR) and Skyworks Solutions (SWKS).

How can I invest in the Tech Hardware sector?

Publicly traded names in Tech Hardware include Flex Ltd. (FLEX), Jabil (JBL), Gartner (IT), Verisign (VRSN) and First Solar (FSLR). Compare them side by side on Sterling. Data last updated August 26, 2026.