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Technology Stocks : Baidu (BIDU)

BIDU 123.82

+2.8%

Dec 19 9:30 AM EST

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To: Sr K who wrote (1564)	8/16/2011 12:27:40 PM
From: manalagi	1 Recommendation Read Replies (1) of 2098

If you have thousands of salespeople and every one is eager to get big commissions for getting new accounts, there is bound to have a few bad apples. There is a hidden agenda by CCTV which needs money for its 2012 budget. In 2008 CCTV also made negative comments about Baidu, and then Baidu spent $ 100M RMB for advertising on CCTV, and from that day on, the government TV left Baidu alone. There are other factors as well in attacking Baidu: Hsinhua and China Mobile teamed up to build another search engine friendly - or being the mouthpiece of the communist party. That project is going nowhere since Baidu is still preferred by Chinese internet users. Another theory is that Tencent, Alibaba or Sohu planted the incident to give Baidu a black eye. Nevertheless, all analysts - sans S&P defended Baidu. S&P downgraded Baidu from Strong Buy to Buy but maintains the price target of $ 200. This storm will pass as well. Note: Not just Baidu which is under pressure. All Chinese internet companies are down 5% or more.

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