Found this article today!! This for me actually highlights a MUCH bigger potential revenue opportunity for NOV!!
I find it mind blowing that NOV has dealings with both WePay and AliPay!! Granted at the moment it’s only The Australian based operations that NOV clips, but having just placed $10 mil to a Chinese investor, I would say NOV would be eyeing off a deal of some sort within the Chinese operations. Just a guess, but that would be just about the biggest deal announced by as ASX stock!!
1 billion mobile phones!!
Snippet from article:
Global giant reports revenue growth like a small cap
Take a look at China. A major tech company over there is called Tencent. Its quarterly revenue growth has come in at 61%. That’s the fastest it's been since 2010.
Its market cap is now around US$477 billion. That’s over three times the size of Australia’s largest company, the Commonwealth Bank.
There’s about a billion mobile phones in China. Tencent’s WeChat is practically on all of them. Fellow Chinese tech giant Alibaba reported results just as impressive.
If there’s a slowdown in China, it’s certainly not showing up here. It doesn't appear to be showing up anywhere else either.
NOV Price at posting:
40.5¢ Sentiment: Buy Disclosure: Held
