10c > $500,000,000 (Tencent to half a trillion dollars)November 24, 2017
Surpassing Facebook to become the first Chinese stock to to enter the top six global listed stocks with a market capitalisation of over 500 billion. On 20 November, Tencent (SEHK: 700) attained a valuation of USD 522 billion.
Founded in 1998, Tencent released the WeChat mobile app in January 2011. WeChat is now almost ubiquitous in China, used by nearly a billion people to connect, message and make payments via their smartphones. Increasingly brands are using WeChat to promote products and services. Over the past five years, Tencent’s market capitalisation has increased nearly 900%.
Of the top ten stocks by market capitalisation, seven are tech stocks, eight are American, five are less than 25 years old, two are from the nineteenth century and only one (JPMorgan Chase) was founded in the eighteenth century.
Two of the top ten are Chinese, with Alibaba (NYSE: BABA) rapidly approaching entry into the exclusive $500 Billion Club.
The massive evolutions in the stock market, correlate the impact of Internet technology to the dramatic changes wrought by the mechanical revolution of railroads and John D Rockefeller’s Standard Oil, a century earlier.
Blue-chip stocks include many banking, finance, oil & gas, beverage, and telecom brands, but the dominance and scale of tech stocks is indisputable.
With zero resemblance to a tech ‘bubble, these top seven brands have extraordinary consumer market penetration.
After the current digital revolution, the next wave is most likely to be Artificial intelligence (AI). In 2016, the AI market was worth just $644 million, according to Tractica. This year, that amount will nearly double and continue to grow exponentially
To encapsulate this constant evolution, we can go way beyond 1965 and Gordon Moore’s practical formula (Moore’s Law), to a statement by the Greek Philosopher, Heraclitus of Ephesus (c. 500 BCE), who wrote “the only constant in life, is change“.
For more on the digital revolution, read Twenty years of change (1996-2016)
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