After 2 long years of waiting, the time is ripe now to go long Read latest news here ,
Strong Q1 revenue that beats analysts estimates (3.18B actual vs 3.09B forecasts)
No. 3 player in the Cloud space in China , aggressively acquiring market shares
Established its presence in autonomous driving with 100 Apollo-powered autonomous vehicles that are deployed across 17 cities in China
Competition -Bytedance with its standalone search engine mobile app is giving Baidu a run for its money. If Baidu does not come up with a strategy to counteract this competitor, its dominant business, search engine will be affected badly.
Chart wise, it has broken out of the bearish trend line after 2 long years. This present a good opportunity to buy Baidu at the near bottom price before it escalates higher. Also, if it follows the footsteps of Alibaba and get listed in Hong Kong, in due time, if it continues to perform well, it might even be included in the components of Hang Seng Index. Definitely something to look forward to.
