Return to China tough for American orphan stocks

June 12, 2015

Soaring home markets are prompting Chinese companies to delist from U.S. exchanges. The likes of social network Renren and data centre group 21Vianet may hope for higher valuations in China. But rigid rules make mainland listings harder. Only the unloved will attempt the journey.

Line’s $13 bln valuation shows chat app exuberance

July 31, 2014

The Japanese chat app reported a 26 pct jump in revenue from the previous quarter, pushing up valuation expectations ahead of its planned IPO. Yet Line’s valuation hangs on an assumption that new overseas users will spend like those back home. That seems like wishful thinking.

Interpreting Apple/Beats using Andreessenomics

May 12, 2014

Venture capitalist Marc Andreessen partly justifies high tech valuations with the idea that huge companies can “attach” the products of smaller ones, rendering traditional analysis pointless. The idea can resonate - perhaps for Apple with Beats headphones - but it’s flawed.

$500 bln valuation may still be only half an Apple

February 28, 2012

The market cap of the world’s largest company is edging toward that landmark threshold. But it could just be a pit stop on the way to $1 trln. A quick tour of Apple’s other eye-watering numbers explains why.