Mr Son said the growing number of microchip 'brain cells' opens up a huge opportunity for smart and connected objects.

'This is why I spent $32 billion (£26 billion) to acquire ARM,' Mr Son said, explaining his 30-year-vision of a world where the artificial computer brain will have 10,000 intelligence quotient (IQ) capabilities compared with 100 for the average human.

Jennifer Belissent, an analyst at Forrester Research who attended Son's keynote speech, said the numbers he mentioned were very dramatic.

'The greater connectivity and new artificial IQ capabilities offer so much potential. It sets the scene for a Marvel movie,' she said.
'Now, the key question is how to make that new technology available to everyone.

'It's not the number of new devices that is relevant but what you make out of it in terms of analytical capabilities.

Eoin Treacy's view

Connectivity remains a secular theme. 4G has just been rolled out in India, enabling the economy to jump several stages of web development and Verizon is now introducing 5G in the USA. As the speed with which we can access the internet increases the range of potential applications for web-enabled functions multiplies.  The Internet of Things is a logical iteration of that evolution and suggests the number of connected devices is only going to increase as the relative cost of connectivity trends lower. 

Cisco Systems was the darling of the investment community during the original internet infrastructure boom in the 1990s. As the requirement for new networks capable of delivering high speed connectivity increases Cisco might once more play an important role. The share appears to be in the process of completing a 16-year base formation and sustained move below $30 would be required to question medium-term scope for additional upside. 

F5 Networks surged higher in 2009 and 2010 but has been confined to a volatile range since. It has held a progression of higher reaction lows since early 2016 and is now testing the upper side of the six-year range. A sustained move below $130 would be required to question medium-term scope for a successful upward break. 

Juniper Networks has been ranging in a volatile manner since 2012 but has sustained a mild upward bias despite occasional sharp pullbacks. It is rallying once more and a sustained move below $25 would be required to question medium-term scope for continued higher to lateral ranging within what remains a lengthy base formation.