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Baidu (BIDU -3.1%) slides after receiving a downgrade to Hold from Jefferies' Cynthia Meng. Like...

Baidu (BIDU -3.1%) slides after receiving a downgrade to Hold from Jefferies' Cynthia Meng. Like many other analysts, Meng is worried about Qihoo's (QIHU -1.1%) search engine: she thinks Baidu's Q3 results will be at the low end of its guidance range, and that its numbers for Q4 and later could miss Street estimates. Meng also expects Baidu's traffic acquisition costs to rise as a % of sales. Baidu has already significantly underperformed the NASDAQ since Qihoo's search engine launched.  (more)
Comments (1)
  • It seems to me that the analysts are feeding of each other in their opinion. First, QIHU market share might be exaggerated and is dropping back it seems. Second, BIDU is THE powerhouse in mobile right now in China and I do not see others there.

     

    Everyone seems to have forgotten how BIDU destroyed earnings forecast last quarter! Well, 2 months is a LONG time for the poor analyst brain it seems.
    1 Oct 2012, 12:02 PM Reply Like
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