Baidu: Recent Developments Are Favorable (NASDAQ:BIDU) – Seeking Alpha
Elevator Pitch
Baidu, Inc.’s (NASDAQ:BIDU) [9888:HK] shares are deserving of a Buy rating.
BIDU’s shares have gone up by +66.4% (source: Seeking Alpha price data) since my previous article previewing the company’s Q3 2022 earnings was published on November 17, 2022. In the same time frame, the S&P 500 rose by a mere +5.1%.
Notwithstanding Baidu’s recent share price outperformance, my view is that BIDU’s stock can continue to rise, taking into account the company’s recent developments. The increase in BlackRock’s (BLK) equity interest in Baidu and news relating to the potential introduction of an AI chatbot are positive developments, which point to further upside for Baidu’s shares. Therefore, I have chosen to maintain a Buy rating for BIDU.
New AI Chatbot Could Be In The Works For Baidu
A January 30, 2023 Seeking Alpha News article cited a report from Reuters mentioning that BIDU could potentially introduce a new “artificial intelligence chatbot service” which might be…
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source: https://news.oneseocompany.com/2023/02/02/baidu-recent-developments-are-favorable-nasdaqbidu-seeking-alpha_2023020240052.html
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