1) Tencent Reaches $500 Billion Market Capitalization
Tencent on Monday punched through a stock market capitalization of $500 billion, becoming the first Chinese technology company to join an elite group dominated by US corporations. Financial Times (ft.com) video above published Nov 20, 2017.
Tencent Holdings Limited (domain: tencent.com) is a Chinese investment holding conglomerate whose subsidiaries provide media, entertainment, social network, payment systems, smartphones, internet-related services, value-added services, e-commerce, artificial intelligence, property services, and online advertising services, principally in China. Global ambitions: will Tencent be as successful competing in the global marketplace as it is on China's state-controlled internet?
- Tencent Holdings Ltd shares HKG: 0700 (pricing in HKD) Disclaimer
- Headquarters: Shenzhen, China
- Revenue: 151.9 billion CNY (2016)
- Subsidiaries: Supercell, China Literature, WeBank, MORE
- Founders: Ma Huateng, Zhang Zhidong, Chen Yidan, Xu Chenye, Zeng Liqing
- Tencent is the world's fifth-largest internet company by revenue according to wikipedia.org.
Tencent's killer app is WeChat (domain: wechat.com), a social mobile application with voice and text messaging service. It is the most popular social mobile application in China and some overseas Chinese communities, such as Malaysia. See: Tencent turns to WeChat, games and deals for global strategy: "Malaysia the first foreign country to roll out its WeChat ecosystem," an executive told Reuters.com.
2) Media & Advertising Disrupted: Why there's so much anxiety in the media business right now | CNN.com: "The digital advertising duopoly of Google and Facebook -- in which they take in 2017 about 90% of all the digital ad dollar growth -- drives everyone else in media to run tighter ships," said analyst Ken Doctor.
- Angst Among Digital Media CEOs as Ads Fall: Is It Time to Sell? | Bloomberg.com: "With ads tough to sell and new capital hard to raise, dreams of creating new digital behemoths have given way to a more realistic view that survival may hinge on being part of a larger company."
- Mainstream Media Turns On Social Media--"Mark Zuckerberg's Long Litany Of Failings."--ZeroHedge.com.
- New model? Move Over WaPo & NYTimes: Axios.com Raises $20 Million to Fund Newsroom Expansion | WSJ.com: "The 10-month-old media startup plans to increase staffing to 150 by the end of 2018, develop new coverage areas, and expand its data analysis and product offerings."
"... Donald Trump is a lucky guy, and the economy during his first year in office has been a dream cocktail of favorable results. Real growth has increased from 2% over the past few years to 3% in the second and third quarters. (The third quarter was a real surprise. Everyone expected growth at 2% or below because of hurricanes Irma and Harvey.) Inflation is tame at 2%, very low for the late stage of an expansion (unless this isn’t a late stage). The 10-year U.S. Treasury is yielding a very unthreatening 2.4%, the unemployment rate is just over 4% and looks like it is headed into the 3% range, household net worth is at an all-time high, consumer confidence is at a 15-year high and the Standard & Poor’s 500 is at an all-time high. That’s a pretty good set of statistics for less than a year in office. Perhaps giving President Trump credit for all of it isn’t right, but it did occur on his watch ..."--Byron Wien Commentary | blackstone.com (excerpt)(emphasis added)For the week ending Friday Nov 24, 2017, U.S. stocks: the S&P 500, NASDAQ, and Russell 2000, all end the week at all-time record highs--MarketWatch.com and S&P 500 closes above 2,600 for first time | CNBC.com.
- Tax Bill: "After I saw that tax bill, I lost hope with the drain the swamp concept, the swamp keeps getting bigger."--DoubleLine's Jeffrey Gundlach. See also: The Republican Tax Plan Is Very Swampy | ZeroHedge.com.
- Wall Street Betting on Tax Reform Passing? "Key point about the Shiller PE is therefore NOT that stocks are expensive. Rather, it is that markets expect inflation/interest rates to remain low and corporate earnings to stay elevated."--datatrekresearch.com
- Trump's Legacy: "Tax reform and the end of year spending deal will consume all of Washington's oxygen until the end of the year" but next week the Senate is scheduled to confirm President Trump's ninth judicial appointment to the U.S. Court of Appeals this year, which beats President Reagan's eight in his first year, and President Obama's three in his first year in office. "This [judicial appointments] will be the single most important legacy of the Trump administration"--Sen. Chris Coons, Delaware Democrat and Senate Judiciary Committee member.--BusinessInsider.com
- Goldman Sachs says 2017 was surprisingly good, 2018 will be more of the same: "2017 is shaping up to be the first year of the expansion in which growth surprises to the upside ... We expect 2018 to deliver more of the same"--Goldman analyst Charles Himmelberg--cnbc.com.
- Trump & China: Don't "be lulled by Trump's public praise of President Xi. Behind the scenes, [Trade Rep] Lighthizer's arguments are winning the day"--Axios.com.
- Bitcoin: “Can you live without bitcoins? Yes. Could you live without tulips in the Netherlands? Yes,” said Sankaran Naren, CIO of ICICI Prudential Asset Management Company, at the Reuters Summit in Mumbai--Bubbly bitcoin not worth the wager: investors | Reuters.com.
- Short $TSLA? "Put it this way," short seller Jim Chanos said, "if you wouldn't be short a multi-billion-dollar loss-making enterprise in a cyclical business, with a leveraged balance sheet, questionable accounting, every executive leaving, run by a CEO with a questionable relationship with the truth, what would you be short? It sort of ticks all the boxes" --cnbc.com. See also: Bloomberg.com--Tesla’s Burning Through Nearly Half a Million Dollars Every Hour--"By this calculation, Tesla would exhaust cash on Aug. 6, ."
- $INTC--SeekingAlpha.com: Chromebooks--One Good Reason To Like Intel.
- 'The fear is gone,' boom-time complacency tops investors' worry list--Reuters.com.
4) ICYMI Tech News:
- Amazon's Last Mile | gizmodo.com: "... plainclothes contractors with few labor protections, driving their own cars, competing for shifts on the company’s own Uber-like platform ... In terms of size, efficiency, and ruthlessness, Amazon has few equals ... "
- Is Google's AI almost as stupid as Siri? Google Has Picked an Answer for You—Too Bad It’s Often Wrong | WSJ.com: "Going beyond search, the internet giant is promoting a single result over all others, and many are contentious, improbable or laughably incorrect."
- Apple offices raided ahead of launch of iPhone X in South Korea | metro.co.uk: "Apple products are wildly popular in South Korea, which is home to several giant tech firms including Samsung and LG."
- Qualcomm to Win EU Approval for NXP Deal by End of Year--Bloomberg.com.
- A Windows 10 alternative: Microsoft should embrace, extend Linux on the desktop | ZDNet.com: "I get it ... you don't want Windows 10. Let me suggest another solution." See also: "Linux totally dominates supercomputers"--ZDNet.com.
- Another Cryptocurrency Gets Hacked, Money Disappears. Here are the 30 Biggest Crypto Hacks | WolfStreet.com: "Bitfinex, which doesn’t even disclose where it is located (it’s incorporated in the British Virgin Islands at a mailbox address and files some paperwork in Hong Kong), was hacked again, after its May 2015 hack."
-- John Poole, Editor, Domain Mondo
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