44 industries 603 companies value 32.1 tn revenue 3.7 tn
| Industry | n | Value | Revenue | Margin | Cash | Group leader | Concentration |
|---|---|---|---|---|---|---|---|
| AI semiconductors and processors | 9 | 8.2 tn | 492 bn | 45.9% | 177 bn | NVDA 63.8% | Clear leader |
| Hardware and devices | 18 | 5.4 tn | 692 bn | 20.9% | 152 bn | AAPL 93.0% | Clear leader |
| Infrastructure and cloud software | 5 | 4.4 tn | 403 bn | 38.3% | 39 bn | MSFT 90.5% | Clear leader |
| Semiconductor foundries | 4 | 2.3 tn | 138 bn | 40.9% | 35 bn | TSM 95.7% | Clear leader |
| Memory | 4 | 1.7 tn | 276 bn | 75.1% | 128 bn | MU 59.1% | Comfortable leader |
| Semiconductor equipment | 13 | 1.5 tn | 110 bn | 29.2% | 27 bn | ASML 41.4% | Open contest |
| Networking equipment | 30 | 864 bn | 143 bn | 21.5% | 27 bn | CSCO 48.6% | Comfortable leader |
| Enterprise software (SaaS) | 38 | 806 bn | 140 bn | 17.3% | 42 bn | SAP 34.5% | Open contest |
| Cybersecurity | 20 | 743 bn | 42 bn | 8.4% | 13 bn | PANW 38.2% | Open contest |
| Data and analytics | 25 | 725 bn | 30 bn | 7.6% | 8.7 bn | PLTR 64.4% | Clear leader |
| Analog and industrial semiconductors | 19 | 649 bn | 74 bn | 19.0% | 18 bn | TXN 38.9% | Open contest |
| IT services and consulting | 46 | 537 bn | 282 bn | 9.2% | 40 bn | IBM 41.5% | Open contest |
| Data storage | 6 | 521 bn | 50 bn | 48.0% | 18 bn | SNDK 38.5% | Open contest |
| Electronic components and connectors | 27 | 436 bn | 98 bn | 11.7% | 12 bn | APH 45.4% | Comfortable leader |
| Connectivity and networking chips | 6 | 297 bn | 13 bn | 26.5% | 2.4 bn | MRVL 69.9% | Clear leader |
| Semiconductor IP | 7 | 261 bn | 8.0 bn | 20.4% | 2.6 bn | ARM 93.0% | Clear leader |
| Design and engineering software | 7 | 246 bn | 27 bn | 9.4% | 8.1 bn | CDNS 36.5% | Open contest |
| E-commerce platforms | 9 | 245 bn | 23 bn | 12.0% | 4.8 bn | SHOP 90.0% | Clear leader |
| RF and mobile chips | 8 | 215 bn | 49 bn | 19.4% | 11 bn | QCOM 84.8% | Clear leader |
| Chip testing and packaging | 13 | 199 bn | 38 bn | 9.6% | 0.7 bn | ASX 45.3% | Comfortable leader |
| Measurement and test instruments | 30 | 198 bn | 46 bn | 6.8% | 7.6 bn | KEYS 28.9% | Open contest |
| Internet infrastructure and CDN | 9 | 165 bn | 13 bn | 15.9% | 3.0 bn | NET 64.3% | Clear leader |
| Vertical software | 36 | 149 bn | 37 bn | 14.7% | 7.3 bn | ROP 25.5% | Evenly matched |
| Optics and photonics | 14 | 140 bn | 13 bn | -47.1% | -1.0 bn | LITE 53.7% | Comfortable leader |
| Creative and document software | 9 | 136 bn | 35 bn | 18.8% | 14 bn | ADBE 70.5% | Clear leader |
| Electronics contract manufacturing | 10 | 128 bn | 105 bn | 3.7% | 3.5 bn | CLS 26.9% | Evenly matched |
| Digital advertising (adtech) | 37 | 111 bn | 22 bn | 20.2% | 6.5 bn | APP 81.1% | Clear leader |
| AI servers | 5 | 98 bn | 83 bn | 6.1% | -2.9 bn | HPE 75.4% | Clear leader |
| Power semiconductors | 8 | 97 bn | 12 bn | 11.0% | 1.6 bn | MPWR 63.5% | Clear leader |
| Government and finance software | 18 | 96 bn | 27 bn | 14.0% | 6.3 bn | BR 20.7% | Evenly matched |
| GPU cloud (neoclouds) | 20 | 93 bn | 10 bn | -49.9% | -23 bn | NBIS 46.6% | Comfortable leader |
| Communication and collaboration | 14 | 87 bn | 20 bn | 25.6% | 4.8 bn | TWLO 45.3% | Comfortable leader |
| HR and finance software | 12 | 76 bn | 18 bn | 7.3% | 4.3 bn | WDAY 61.8% | Clear leader |
| Identity and access management | 10 | 51 bn | 5.5 bn | 4.0% | 1.7 bn | OKTA 65.1% | Clear leader |
| Databases and developer tools | 4 | 50 bn | 5.4 bn | — | — | MDB 56.3% | Comfortable leader |
| Quantum computing | 9 | 34 bn | 0.4 bn | -633.7% | -1.1 bn | IONQ 34.8% | Open contest |
| Backup and data protection | 3 | 33 bn | 3.2 bn | -3.6% | 0.7 bn | RBRK 71.3% | Clear leader |
| Marketing software | 13 | 28 bn | 9.0 bn | 1.2% | 1.5 bn | HUBS 42.1% | Comfortable leader |
| Logistics software | 8 | 26 bn | 3.1 bn | 16.7% | 0.9 bn | MANH 51.0% | Comfortable leader |
| Programmable chips | 3 | 26 bn | 1.4 bn | 18.5% | 0.5 bn | LSCC 60.2% | Clear leader |
| Game engines and tools | 2 | 19 bn | 4.9 bn | -17.9% | 1.0 bn | U 95.8% | Clear leader |
| ATMs and retail automation | 9 | 13 bn | 14 bn | 3.1% | 0.7 bn | NATL 26.4% | Evenly matched |
| Printing and office equipment | 7 | 4.8 bn | 13 bn | -6.3% | 1.1 bn | PBI 48.1% | Comfortable leader |
| Industrial robotics | 1 | — | 32 bn | 11.9% | 3.5 bn | ABBNY — | No listed rival |
The 20 largest companies in the sector
| Rank | Ticker | Company | Industry | Value | Revenue | Margin | FCF |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA United States · score 6.8 | AI semiconductors and processors | 5.2 tn | 303 bn | 63.7% | 127 bn |
| 2 | AAPL | Apple United States · score 6.7 | Hardware and devices | 5.0 tn | 467 bn | 27.6% | 137 bn |
| 3 | MSFT | Microsoft United States · score 6.5 | Infrastructure and cloud software | 4.0 tn | 332 bn | 40.3% | 67 bn |
| 4 | TSM | Taiwan Semiconductor Taiwan · score 6.4 | Semiconductor foundries | 2.2 tn | 121 bn | 44.5% | 32 bn |
| 5 | AVGO | Broadcom United States · score 6.7 | AI semiconductors and processors | 1.6 tn | 89 bn | 42.9% | 39 bn |
| 6 | MU | Micron Technology United States · score 7.1 | Memory | 1.0 tn | 133 bn | 63.8% | 59 bn |
| 7 | AMD | Advanced Micro Devices United States · score 6.4 | AI semiconductors and processors | 878 bn | 41 bn | 15.6% | 8.4 bn |
| 8 | SKHY | SK hynix South Korea · score 7.5 | Memory | 708 bn | 142 bn | 85.7% | 69 bn |
| 9 | ASML | ASML Holding Netherlands · score 6.8 | Semiconductor equipment | 635 bn | 37 bn | 29.4% | 12 bn |
| 10 | PLTR | Palantir Technologies United States · score 6.2 | Data and analytics | 467 bn | 6.2 bn | 49.0% | 3.4 bn |
| 11 | INTC | Intel United States · score 2.0 | AI semiconductors and processors | 464 bn | 57 bn | -19.8% | 2.8 bn |
| 12 | CSCO | Cisco Systems United States · score 6.7 | Networking equipment | 420 bn | 63 bn | 21.0% | 13 bn |
| 13 | ORCL | Oracle United States · score 2.1 | Infrastructure and cloud software | 392 bn | 67 bn | 28.1% | -29 bn |
| 14 | LRCX | Lam Research United States · score 6.4 | Semiconductor equipment | 341 bn | 23 bn | 31.3% | 4.9 bn |
| 15 | AMAT | Applied Materials United States · score 6.4 | Semiconductor equipment | 328 bn | 31 bn | 30.1% | 5.6 bn |
| 16 | DELL | Dell Technologies United States · score 4.5 | Hardware and devices | 290 bn | 151 bn | 7.5% | 8.6 bn |
| 17 | PANW | Palo Alto Networks United States · score 6.2 | Cybersecurity | 284 bn | 11 bn | 2.7% | 4.1 bn |
| 18 | SAP | SAP SE Germany · score 6.5 | Enterprise software (SaaS) | 278 bn | 41 bn | 19.9% | 10 bn |
| 19 | TXN | Texas Instruments United States · score 6.5 | Analog and industrial semiconductors | 252 bn | 19 bn | 31.1% | 5.4 bn |
| 20 | ARM | Arm Holdings United Kingdom · score 6.0 | Semiconductor IP | 243 bn | 5.2 bn | 20.2% | 1.5 bn |
Other sectors
What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.
The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.
The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.