VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Tencent Holdings Limited vs Apple Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Tencent Holdings Limited

0700.HK · Hong Kong Stock Exchange

Market cap (USD)$4.7T
Gross margin (TTM)54.5%
Operating margin (TTM)32.3%
Net margin (TTM)29.9%
SectorCommunication Services
IndustryInternet Content & Information
CountryCN
Data as of2025-12-28
Moat score
73/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Tencent Holdings Limited's moat claims, evidence, and risks.

View 0700.HK analysis

Apple Inc.

AAPL · NASDAQ

Market cap (USD)$3.9T
Gross margin (TTM)47.3%
Operating margin (TTM)32.4%
Net margin (TTM)27%
SectorTechnology
IndustryConsumer Electronics
CountryUS
Data as of2025-12-20
Moat score
87/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Apple Inc.'s moat claims, evidence, and risks.

View AAPL analysis

Comparison highlights

  • Moat score gap: Apple Inc. leads (87 / 100 vs 73 / 100 for Tencent Holdings Limited).
  • Segment focus: Tencent Holdings Limited has 4 segments (48.3% in Value-Added Services (VAS)); Apple Inc. has 5 segments (50.4% in iPhone).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Tencent Holdings Limited has 6 moat types across 2 domains; Apple Inc. has 7 across 3.

Primary market context

Tencent Holdings Limited

Value-Added Services (VAS)

Market

Consumer social platforms and digital entertainment (online games, subscriptions, virtual items, digital content)

Geography

Mainland China (core) + Global (games)

Customer

Consumers

Role

Platform/operator + content publisher

Revenue share

48.3%

Apple Inc.

iPhone

Market

Smartphones (with focus on premium smartphones and iOS ecosystem devices)

Geography

Global

Customer

Consumers and enterprises (end-users), plus carrier/retail channels

Role

OEM / platform owner

Revenue share

50.4%

Side-by-side metrics

Tencent Holdings Limited
Apple Inc.
Ticker / Exchange
0700.HK - Hong Kong Stock Exchange
AAPL - NASDAQ
Market cap (USD)
$4.7T
$3.9T
Gross margin (TTM)
54.5%
47.3%
Operating margin (TTM)
32.3%
32.4%
Net margin (TTM)
29.9%
27%
Sector
Communication Services
Technology
Industry
Internet Content & Information
Consumer Electronics
HQ country
CN
US
Primary segment
Value-Added Services (VAS)
iPhone
Market structure
Oligopoly
Oligopoly
Market share
n/a
14%-17% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
73 / 100
87 / 100
Moat domains
Network, Supply
Demand, Network, Supply
Last update
2025-12-28
2025-12-20

Moat coverage

Shared moat types

Ecosystem ComplementsTwo Sided Network

Tencent Holdings Limited strengths

Direct Network EffectsDistribution ControlData Network EffectsCapex Knowhow Scale

Apple Inc. strengths

Brand TrustScale Economies Unit CostSwitching Costs GeneralDefault OS GatewayInstalled Base Consumables

Segment mix

Tencent Holdings Limited segments

Full profile >

Value-Added Services (VAS)

Oligopoly

48.3%

Marketing Services

Oligopoly

18.4%

FinTech and Business Services

Oligopoly

32.1%

Others

Competitive

1.2%

Apple Inc. segments

Full profile >

iPhone

Oligopoly

50.4%

Mac

Oligopoly

8.1%

iPad

Oligopoly

6.7%

Wearables, Home and Accessories

Competitive

8.6%

Services

Quasi-Monopoly

26.2%

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.