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How can an understanding of industry hierarchies, such as those in the S&P 500, aid in the analysis of a company's revenue and cost estimations?

How can an understanding of industry hierarchies, such as those in the S&P 500, aid in the analysis of a company's revenue and cost estimations? It provides insight into the broad market trends that may impact the company's performance. It enables the analyst to calculate the company's market capitalization. It can help identify the company's direct competitors

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