THE FIELD GUIDE · SECTOR ANALYSIS TRACK

Sector Stock Analysis: Industry-Specific Research Frameworks

Generic stock analysis misses what matters in each sector. These blueprints give you the right questions, metrics, and catalysts for the industry you're actually analyzing — whether you're working through a semiconductor cycle, a healthcare re-rating, or a fintech multiple compression.

Sector blueprints

6 sector frameworks — built around what actually moves stocks in each industry.

Technology analysis blueprint

Technology stock analysis: how to frame the research before the model

Tech analysis fails when investors lead with multiples and lag on the business. The right order is: understand the unit economics, stress-test the moat, then frame the valuation.

Write the three variables that would make you cut the growth estimate before you open a model.

Measure net dollar retention separately from new logo growth — blended ARR hides deteriorating cohort behavior until it is too late.

Read guide Test on MSFT

Semiconductors analysis blueprint

Semiconductor stock analysis: reading the cycle before repricing

Semiconductor analysis fails when investors use current earnings as if the cycle were frozen. The right order is: place the business in the cycle, stress the competitive position, then build a valuation that can survive the next inventory correction.

Write where you believe channel inventory sits relative to normal before you call the stock cheap on current earnings.

Decompose revenue growth into ASP and volume before extrapolating — price declines during oversupply can make volume growth look like revenue weakness.

Read guide Test on NVDA

Healthcare analysis blueprint

Healthcare stock analysis: clinical risk, pipeline, and pricing

Write the net realized price for the company's top product — not the gross price — before you model revenue.

Open LLY

Financials analysis blueprint

Financial stocks: classify the model before the multiple

Write where you believe the bank's NIM sits relative to its normalized range before you model earnings — not just the current rate environment.

Open JPM

Energy analysis blueprint

Energy stocks: value the cycle, not the strip price

Write the company's all-in breakeven price before calling the stock cheap — that number tells you more than the current free cash flow yield at strip.

Open XOM

Technology red flags

Technology stocks: the red flags that wreck the thesis

Check whether deferred revenue is growing faster or slower than reported revenue — if slower for two consecutive quarters, the forward pipeline is weaker than the income statement implies.

Open MSFT

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