China Stock #1 – Baidu (BIDU)
If you think the 1990’s Internet boom was big here in the U.S., then buddy, you ain’t seen nothin’ yet. In 2008 alone, China’s
Internet population grew over 40% to nearly 300 million users. That growth has continued this year as well, and at the end of June, China’s
Internet population jumped to 338 million. That’s more Internet users than the entire population of the United States. And keep in mind, this
growth has occurred despite the global economic slowdown.
And where are all of these Chinese Web surfers going with their newfound connectivity? They are going to Baidu (BIDU).
The search engine site handles nearly three out of every four Internet searches in China. By comparison, Google (GOOG)
has a mere 20% market share in China.
But Baidu isn’t resting on its laurels. The company recently surpassed Yahoo (YHOO) to become
the world’s second-largest search engine. Now that’s progress. Oh, and when it comes to searching for shareholder value, Baidu knows how
to deliver the hits. The shares are up more than 200% year to date.
- Poll of the Day