5 Best App Stocks to Buy Today

4. Tencent Holdings Limited (OTC: TCEHY) 

Market Cap: $722 billion
Popular Apps: WeChat, QQ, QQ Wallet, Qzone

Tencent Holdings Limited is a China-based technology company. It owns some of the famous apps, including instant messaging service WeChat, Tencent QQ, Qzone, and also fintech apps; QQ Wallet, LiCaiTong, WeChat Pay, etc. The company ranks fourth on our list of the best app stocks to buy today. 

Tencent’s WeChat and QQ are widely used in China, accounting for nearly two-thirds of its population. Moreover, the company also has investments in the U.S. gaming market, with a 40% of stake in Epic Games’ Fortnite Studio. 

In Q1 2021, Tencent saw a 20% year-over-year increase in its revenue at $20 billion. Online advertisement and fintech revenue stood at RMB 21.8 billion and RMB 39 billion, respectively. The monthly average users for WeChat and QQ also increased in this quarter. The MAUs of WeChat grew by 3.3% year-over-year at 1.24 billion and for QQ, the number remained 606 million.

Tencent is also planning to contribute to carbon-neutral China by expanding its cloud computing industry and has signed an agreement with Chindata Group Holding Limited (NASDAQ: CD) in this regard.