This might include you though you may have invested money in these companies, or may have been working with one of them for years as an employee, or have consulted with them as an expert for a long time. All its AI investments are not generating meaningful revenue for the company yet, but are expected to strengthen its business in the long-term.Want out-performance? Since then, BIDU stock has increased by 13.1% and is now trading at $122.45. Try guessing the % returns for our What’s behind Trefis? BEIJING, CHINA - JULY 03: The Baidu Inc. logo is displayed on the company's headquarters on July 3, After a 50% rise since the March lows of this year, at the current price of around $125 per share, we believe Large concerns over competition in the China advertising market from rivals such as ByteDance, its increasing dependence on its unprofitable streaming video iQiyi for revenue growth, and the popularity of apps such as Tencent’s WeChat - has led the company’s stock to decline for the third year in a row. Although the details of the Trump administration’s auditing plan aren’t clear, it’s unlikely China will readily support the changes.The Baron Global Advantage fund is showing no signs of distress in 2020, despite a global pandemic and the resulting economic downturnShares of iQIYI Inc. rocketed 35% in very active trading Tuesday, after Reuters reported that Tencent Holdings Ltd. was looking to become the largest shareholder in the China-based provider of video streaming services. Their average twelve-month price target is $146.97, predicting that the stock has a possible upside of 20.03%. While its core business revenue (flagship search, feed, and Artificial Intelligence businesses) was down 13% y-o-y, iQiyi revenues were up 35% y-o-y in Q1. Reality struck when investors saw the truth and the stock debuted at half that price. The iQiyi segment provides online advertising services. Baidu guided for third-quarter revenue between RMB26.3 billion ($3.7 billion) and RMB28.7 billion ($4.1 billion), representing a negative growth rate of 6% and a growth rate of 2% year over year. This growth means that foreign markets account for 45% of business, a rare phenomenon for Chinese companies that generally get more than 80% of sales from their home market. )The broader picture is that for the third time in the past four quarters, Xiaomi’s China sales fell while overseas revenue rose. 2019 in Beijing, China. Analyst Rob Sanderson at Loop Capital Markets said said investors "should not be incrementally rattled by the announcement of the SEC investigation," as the lack of content and heavy post-COVID-19 attrition was already well known. Going forward, this growth could also likely offset the headwind of a weak online advertising market.For Q2, Baidu is guiding to revenues of about $3.5 billion - $3.9 billion, representing growth of -5% to 4% y-o-y.
Baidu's stock was trading at $108.25 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization (WHO). The SEC investigation follows a report issued by short seller Wolfpack Research in April. Baidu (NASDAQ:BIDU), which owns China's top online search engine, was once considered one of that country's top tech stocks. Baidu said it earned RMB3.6 billion ($507 million), or $1.46 per ADR, in the quarter, compared with earnings of RMB2.4 billion a year ago. It should be noted that Baidu generates the majority of its revenues from online ads. Shangdi 10th Street Online marketing revenues were RMB 17.7 billion ($2.50 billion), down 8%, the company said. As China’s economic growth continues to slide, one of its largest tech companies, Baidu, has taken a hit to advertising revenues.It reported losses of $47 million for the first quarter of 2019, with online advertising demand plunging. Daily active user counts were up 28% y-o-y to 222 million, with in-app search queries soaring 45% y-o-y. Trading volume was 38.5 million shares, enough to make the stock the 7th-most actively traded on major U.S. exchanges, and more than 7-times the full-day average. That assumes that core revenue growth will range from -8% to 2% y-o-y. At the end of June, 1,378 funds owned BIDU stock, down from 1,419 in March. The smartphone division dropped 1.2%, while internet of things and lifestyle products added 2.1%. Tesla's success in China and NIO's recent rally are encouraging many local companies to go public as they vie to increase their market share in the country's EV industry.Baidu (BIDU) launches Apollo Go Robotaxi service in Cangzhou in a bid to expand its share in the self driving space.Alibaba's New Retail Emerging As A Formidable ForceHere are 5 stocks added to the Zacks Rank #5 (Strong Sell) List todayTop 2nd-Quarter Buys of John Rogers' Ariel InvestmentsPlayers of the popular videogame have been drawn into a battle between its maker, Epic Games, and tech giants over fee payments.Benchmarks closed mixed on Friday as investors analyzed weaker-than-expected economic data and its impact on recovery.
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