China's Tech Giants Emerge as Homegrown Heroes
China's tech industry is on the rise, with numerous companies vying for dominance against the established "Magnificent Seven" tech giants from the United States. These Chinese innovators have earned nicknames such as "Six Little Dragons," "Seven Sisters," and the "Terrific Ten."
Surging Chinese Tech Stocks Inspire Monikers
Brokerage firms have coined catchy monikers to capture the imagination of retail investors amidst the surge in Chinese tech stocks. The nicknames reflect the impressive performance of these companies, which have helped propel the Hang Seng index to the top of major performing markets in 2023.
Seven Sisters: Leaders in AI, Chip-Making, and Manufacturing
Haitong Securities identifies Tencent, Alibaba, Xiaomi, and BYD as potential members of the "Seven Sisters," which are expected to emerge as leaders in artificial intelligence, chip-making, and high-end manufacturing.
Terrific Ten: Outperforming US Giants
The "Terrific Ten" has gained recognition as once-struggling stocks have made a comeback. Jeff Weniger of WisdomTree Asset Management notes that these stocks have outperformed the "Magnificent Seven" in recent times. The "Ten" include Alibaba, JD.com, Geely, BYD, Xiaomi, Tencent, NetEase, Baidu, Meituan, and SMIC.
Magnificent Seven: American Tech Dominators
The term "Magnificent Seven" refers to the seven largest US tech companies: Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. Michael Hartnett of Bank of America coined the term in 2023, inspired by the classic Western movie starring Steve McQueen, Yul Brynner, and Charles Bronson.
Other Nicknames
Other monikers include "VENUS Eight" for eight AI-driven Chinese stocks by UBS and "Little Dragons" for six Hangzhou-based startups, including DeepSeek.