Top Stock #1 – Baidu (BIDU)
Baidu (BIDU) is the leading Chinese-language Internet search engine, with more than 70% of China’s search market. After a big spat at the beginning of this year between Chinese regulators and American search leader Google, it looks like BIDU is set to gain an even bigger leg up in the weeks ahead. According to Goldman Sachs, there’s a 70% probability that GOOG’s China search engine google.cn folds altogether. But even if it doesn’t, the Chinese government will come down hard on the Silicon Valley firm and help BIDU as a result.
Baidu is flying high after its February earnings report, which included a 48% jump in profits and a significant earnings surprise on strong revenue growth. I expect continued success for this Chinese stock in March and beyond.
I rate Baidu a strong buy.
- Poll of the Day