The Next Trillion-Dollar Club Members: Will It Be Tencent or Tesla?

The world's largest technology companies continue to grow in valuation, with Facebook Inc becoming the sixth company to join the trillion-dollar club. According to Approve.com, the next company to reach this milestone is likely to be Tencent Holdings Limited, which is currently valued at US$704bn and has a historic trajectory that suggests it will hit the trillion-dollar mark by next year. However, Elon Musk's Tesla Inc is closing in fast, with a 124% average annual growth rate that could see it surpass Tencent's valuation.

Key Takeaways:

• Tencent Holdings Limited is expected to reach the trillion-dollar market capitalization landmark by next year, based on its historic trajectory.
• Tesla Inc is closing in on Tencent, with a 124% average annual growth rate that could see it surpass Tencent's valuation.
• The trillion-dollar club is expected to swell to include Comcast, Meituan, Netflix, Nvidia Corporation, and Kweichow Moutai by 2024.
• Apple Inc's valuation is expected to reach $3.1 trillion by 2022, according to Daniel Ives of Wedbush.
• Antitrust legislation could have a negative impact on Apple's valuation, while new iPhone releases could act as a major catalyst.
• Brian White of Monness Crespi and Hardt predicts that Apple's shares could reach $180 each.

Statistics:

• Tencent Holdings Limited's market capitalization: US$704bn
• Tesla Inc's average annual growth rate: 124%
• Apple Inc's current market capitalization: $2.5 trillion
• Apple Inc's predicted market capitalization by 2022: $3.1 trillion
• Number of companies expected to join the trillion-dollar club by 2024: 10
• Tencent Holdings Limited's historic trajectory growth rate: 134% (Approve.com dataset)

Sources:

• Approve.com
• CNBC
• Wedbush
• Monness Crespi and Hardt