BaiduNASDAQ: BIDU

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Hang Seng Index gains on US-led momentum and China stimulus hopes. Tech and banking stocks drive gains in Asian and US markets.

BEIJING , Oct. 28, 2024 /PRNewswire/ -- Baidu, Inc. (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)) ("Baidu" or the "Company"), a leading AI company with strong Internet foundation, today announced that it will report its financial results for the Third Quarter 2024 ended September 30, 2024, before the U.S. market opens on November 21, 2024. Baidu's management will hold an earnings conference call at 7:30 AM on November 21, 2024, U.S. Eastern Time (8:30 PM on November 21, 2024, Beijing Time).

Baidu Inc. (BIDU) reachead $89.79 at the closing of the latest trading day, reflecting a +0.35% change compared to its last close.

Baidu is highly undervalued, with significant potential from its AI/robotaxi segment not factored into its stock price, making it a strong buy around $90. Technical indicators suggest Baidu has likely bottomed at $80, presenting an excellent opportunity to initiate or add to positions below $100. Baidu's consistent earnings outperformance and low P/E ratio indicate substantial upside potential, with price targets suggesting 40-100% gains in the next twelve months.

Baidu ( BIDU ) is the premier AI technology company in China and its shares recently benefited from the late September PBOC stimulus program. BIDU shares vaulted 35% from $86 to $116 in just eight trading days.

Investors are less confident over whether stimulus can lift the Chinese economy out of its slump.

Baidu Inc. (BIDU) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

Investors are still trying to figure out how much stimulus the Chinese government might inject into the economy.