China Mobile And China Unicom Sit At 52-Week Highes
Shares of both China Mobile (CHL), the largest Chinese cell company, and No.2 China Unicom (CHU) both sit at 52-week highs. And, no wonder. China Unicom now has almost 151 million subscribers, up from 142 million at the end of…
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Shares of both China Mobile (CHL), the largest Chinese cell company, and No.2 China Unicom (CHU) both sit at 52-week highs. And, no wonder. China Unicom now has almost 151 million subscribers, up from 142 million at the end of last year. It shares are at $19, up from a 52-week low of $8.84. The company has a market cap of $24 billion.
China Mobile has 338 million subscribers. And it is moving aggressively into internet service. According to The Wall Street Journal "the number of people who access the Internet through their cellphone surged to 44 million in the first half from 17 million at the end of last year."
China Mobile shares now trade at $68.34, up from a 52-week low of $32.41. The company has a market cap of $271 billion. By way of contrast’s AT&T’s (T) is $243 billion.
The most impressive thing about the two stocks should continue to rise. The penetration of cell use in rurual areas of China is still much lower than in the big cities, so there are still several hundred potential subscribers.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
