Baidu Inc. ($BIDU) Stock Forecast: Down 5.9% Today

What is Baidu Inc.?

Baidu (BIDU) is a Chinese multinational technology company specializing in Internet-related services and products. It is known for its search engine and AI technologies.

Why is Baidu Inc. going down?

BIDU stock is down 5.9% on Nov 21, 2024 14:36

• Baidu reported a 3% drop in third-quarter revenues, exceeding market expectations, possibly leading to the stock's bearish movement.
• Despite efforts to cut costs in its self-driving vehicle division, including producing the world's only mass-produced Level-4 autonomous driving vehicle, the negative market sentiment persisted.
• Significant investors showed a bullish stance on Baidu, hinting at potential positive sentiment towards the stock, though it may not have fully countered the overall market movement.
• Economic challenges affecting ad spending were another factor contributing to the downward pressure on Baidu's stock price.

BIDU Price Chart

BIDU Technical Analysis

BIDU News

Baidu revenue falls 3% in third quarter as economic woes hit ad spending

The internet search giant pulled in US$4.6 billion in the September quarter, with a decline in online marketing outpacing AI growth.

https://www.scmp.com/tech/big-tech/article/3287590/baidu-revenue-falls-3-third-quarter-economic-woes-hit-ad-spending

Baidu posts 3% drop in third-quarter revenues, beating market expectations

Beijing-based Baidu operates one of the major web browser search engines in China, along with a frequently used maps app.

https://www.cnbc.com/2024/11/21/baidu-q3-2024-earnings.html

Can Baidu Break Bearish Spell? Buying Pressure Shows Bullish Pre-Earnings Potential - Baidu ( NASDAQ:BIDU )

Baidu Inc BIDU will report its third-quarter earnings on Thursday. Wall Street expects $2.35 in earning per share and $4.69 billion in revenues as the company reports before market hours. The stock is down 22.24% over the past year, 24.97% year-to-date.

https://www.benzinga.com/24/11/42095067/can-baidu-break-its-bearish-spell-with-q3-earnings-on-deck

Baidu cuts self-driving vehicle costs to US$34,525 as mass production ramps up

Baidu chief executive Robin Li said the RT6 is now the world's only mass-produced Level-4 autonomous driving vehicle.

https://www.scmp.com/tech/big-tech/article/3287243/baidu-says-self-driving-vehicle-costs-drop-us34525-mass-production-ramps

Check Out What Whales Are Doing With BIDU - Baidu ( NASDAQ:BIDU )

Investors with a lot of money to spend have taken a bullish stance on Baidu BIDU. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/11/42017657/check-out-what-whales-are-doing-with-bidu

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Baidu Inc. Price History

08.10.2024 - BIDU Stock was down 5.0%

• The bearish movement in BIDU today can be attributed to the significant bearish options activity observed by financial giants, with 54% of traders showing bearish tendencies.
• Despite some investors taking a bullish stance on BIDU, the overall sentiment in the options market leaned towards a more pessimistic outlook.
• The divergence in opinions between wealthy individuals or institutions regarding Baidu's future performance might have added volatility to the stock, leading to the bearish movement observed today.

08.10.2024 - BIDU Stock was down 5.1%

• There was notable options activity on Baidu, with a majority of traders displaying bearish tendencies, which likely influenced the stock's significant bearish movement.
• Financial giants exhibited bearish behavior towards Baidu, possibly reflecting a diminished confidence or negative outlook on the company's future.
• The prevalence of bearish sentiment among traders in the options market may indicate apprehensions about Baidu's performance or external factors impacting its stock price adversely.

21.10.2024 - BIDU Stock was down 5.9%

• Baidu reported a 3% drop in third-quarter revenues, exceeding market expectations, possibly leading to the stock's bearish movement.
• Despite efforts to cut costs in its self-driving vehicle division, including producing the world's only mass-produced Level-4 autonomous driving vehicle, the negative market sentiment persisted.
• Significant investors showed a bullish stance on Baidu, hinting at potential positive sentiment towards the stock, though it may not have fully countered the overall market movement.
• Economic challenges affecting ad spending were another factor contributing to the downward pressure on Baidu's stock price.

24.08.2024 - BIDU Stock was up 5.2%

• BIDU stock experienced a strong bullish movement today.
• The bullish trend in BIDU stock can be attributed to the positive market sentiment following the People's Bank of China's interest rate cut.
• The central bank's decision to slash banks' reserve requirement ratio and the unexpected interest rate cut by the Federal Reserve have boosted investor confidence in Chinese tech stocks like BIDU.
• Analyst downgrades on other companies like BP did not have a significant impact on BIDU's bullish movement, indicating that market dynamics and macroeconomic factors played a more crucial role in today's positive performance.

24.08.2024 - BIDU Stock was up 5.9%

• Baidu's stock surged 6.15% to $93.71 following the monetary stimulus announced by the People's Bank of China, indicating investor confidence in the company's growth prospects.
• The positive movement in Baidu's stock could also be attributed to the overall bullish sentiment in Chinese tech stocks like Alibaba, which gained after China's central bank announced plans to slash banks' reserve requirement ratio.
• Despite a recent downgrade by an analyst, Baidu's stock managed to rally, showcasing resilience and possibly benefiting from broader market trends.
• The unexpected interest rate cuts by central banks both in China and the US have likely contributed to the upward trajectory of Baidu's stock, reflecting a favorable macroeconomic environment for tech companies.

08.09.2024 - BIDU Stock was down 5.2%

• Baidu's stock (BIDU) fell by 6.7% to $106.75 as Chinese planning officials failed to meet investor stimulus expectations, leading to a negative sentiment in U.S.-listed Chinese stocks.
• The pre-market session saw other major Chinese stocks like Alibaba (BABA) moving lower, indicating a broader trend in the Chinese tech sector.
• Despite the recent rally in Chinese stocks following stimulus plans, Baidu's decline suggests that market sentiment can quickly shift based on investor expectations and external factors.
• The bearish movement in Baidu's stock today highlights the volatility and sensitivity of Chinese tech stocks to macroeconomic news and investor sentiment.

08.09.2024 - BIDU Stock was down 7.2%

• Baidu (BIDU) experienced a strong bearish movement today.
• The overall market sentiment for Chinese stocks like Alibaba (BABA) and Baidu (BIDU) was mixed, with some experiencing a rally due to China's stimulus plans while others, like Baidu, faced downward pressure.
• Speculation around China's proposed stock stabilization fund might have caused uncertainty and volatility in Baidu's stock price.
• Despite some bullish options activity on Baidu, the overall market sentiment and external factors seemed to have outweighed the positive sentiment, leading to the bearish movement in the stock today.

26.08.2024 - BIDU Stock was up 8.3%

• BIDU experienced a strong bullish movement today, with its stock price surging by 6.15%.
• The surge in BIDU's stock price can be attributed to the sweeping monetary stimulus announced by the People's Bank of China, which positively impacted the overall market sentiment.
• Additionally, the bullish stance taken by whales in the options market, with a significant percentage of investors opening trades with bullish expectations, further fueled the positive momentum for BIDU.
• The company's focus on AI development, cloud business growth, and GenAI capabilities amidst competition and macro headwinds has also contributed to the stock's rise, making it an attractive investment option for traders.

26.08.2024 - BIDU Stock was up 12.0%

• Baidu's stock surged by 6.15% to $93.71, benefiting from the monetary stimulus announced by the People's Bank of China, which likely boosted investor confidence in the tech sector.
• The rise in Baidu's stock price could also be attributed to its AI advancements, booming cloud business, and growing GenAI capabilities, which are positioning the company well against competitors despite macro headwinds.
• The surge in options activity with a bullish stance from investors further indicates growing optimism and positive sentiment surrounding Baidu's future prospects.
• Overall, Baidu's upward momentum today was driven by a combination of favorable market conditions, strategic advancements in key business areas, and investor confidence in the company's growth potential.

15.09.2024 - BIDU Stock was down 5.1%

• BIDU faced a notable decline during the trading session today, which might be linked to the prevailing negative sentiment surrounding Chinese stocks trading in the U.S.
• The disappointment stemming from China's economic stimulus efforts seemed to further impact Baidu's stock performance negatively.
• Despite recommendations from some analysts to consider investing in Baidu Inc., the overall market conditions and subdued reaction to the stimulus efforts seemed to push the stock downward.
• The bearish movement of the stock could also be attributed to investors taking profits following a recent uptrend in e-commerce stocks.

02.09.2024 - BIDU Stock was up 5.3%

• BIDU and other Chinese tech stocks rallied following China's announcement of stimulus plans to boost demand, indicating investor confidence in the market.
• Comments on China's stock stabilization fund potentially benefiting BIDU and JD.com could have further fueled investor optimism.
• The surge in BIDU shares can be attributed to investor enthusiasm over economic stimulus measures by the People's Bank of China and a strong Purchasing Managers' Index report, reflecting positive market indicators.
• The bullish stance taken by investors in the options market on BIDU suggests a bullish sentiment and confidence in the company's future performance.

02.09.2024 - BIDU Stock was up 8.9%

• BIDU's stock had a significant increase today, rising by 15.0% due to optimism surrounding China's economic stimulus actions and a positive Purchasing Managers' Index (PMI).
• Speculation regarding China's proposed stock stabilization fund potentially supporting BIDU and JD.com could have influenced investors positively.
• The options market showed a bullish sentiment, reflecting favorable expectations for Baidu's future.
• Despite the recent uptrend, concerns remain as the latest earnings estimate revisions for BIDU do not foresee continued strength in the short term, suggesting a cautious perspective on its performance.