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Baidu is the largest internet search engine in China with 84% share of the search engine market in September 2021 per web analytics firm, Statcounter. The firm generated 72% of core revenue from online marketing services from its search engine in 2022. Outside its search engine, Baidu is a technology-driven company and its other major growth initiatives are artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving.

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She discussed keeping her phone on 24/7 and cautioned her subordinates to adhere to the same practice. 

&#39;Not Your Mother-In-Law:&#39; PR Head Of &#39;China&#39;s Google&#39; Reportedly Loses Her Job After Endorsing Brutal &#39;996&#39; Work Culture

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Tesla (NASDAQ:TSLA) grapples with mounting job cuts in China amid fierce market competition. Recent layoffs, part of a global downsizing effort exceeding 10%, target various departments at the Shanghai plant. With sales dipping and market share shrinking to 7.5% in Q1 2024, Tesla faces a pivotal moment in China&#39;s EV landscape.

Tesla Cuts More Jobs In China As Competition Heats Up

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Chinese stocks have rallied 19% from 2024 lows, fueled by economic recovery &amp; improved private sector activity. Overestimation of recovery is a risk.

Chinese Stocks Surge As Investors Bet On Economic Turnaround: 7 ETFs To Watch

Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share

Baidu Inc

Mizuho analyst James Lee maintains Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) with a Buy and lowers the price target from $140 to $130.

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Mizuho Maintains Buy on Baidu, Lowers Price Target to $130

The media relations chief of web search giant&nbsp;Baidu Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), known as&nbsp;China&#8217;s&nbsp;Google, has&nbsp;apparently&nbsp;resigned due to the&nbsp;<a target="_blank" href="https://www.benzinga.com/personal-finance/24/03/37594114/elon-musk-once-stated-nobody-ever-changed-the-world-on-40-hours-a-week-but-now-the-average-emplo" rel="noreferrer noopener">controversial and demanding&nbsp;&#8220;996&#8221;&nbsp;work culture</a>&nbsp;in the Asian country.
What Happened:&nbsp;Qu Jing, the media relations chief at Baidu, stepped down Thursday after sharing videos that appeared to endorse a work culture that demands employees work from&nbsp;9 a.m. to 9 p.m.&nbsp;six days a week,&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-10/baidu-executive-quits-after-reviving-toxic-work-culture-debate?srnd=technology-vp" rel="noreferrer noopener">reported</a>&nbsp;Bloomberg, citing people familiar with the matter. This work culture&nbsp;is commonly referred&nbsp;to as&nbsp;&#8220;996.&#8221;
Qu discussed keeping her phone on 24/7 and cautioned her subordinates to adhere to the same practice. In one of the clips posted on Douyin, China's version of TikTok, she says, &#8220;I'm not your mother-in-law.&#8221;
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38729891/struggling-with-a-toxic-boss-at-work-here-are-5-things-i-did-to-make-my-office-life-easier-and-stop" rel="noreferrer noopener">I Struggled With Toxic Boss So Much, I Thought I Had No Option But To Quit: But Then These 5 Things I Did Made It Better</a>
Her comments sparked a significant backlash on Chinese social media, reigniting the ongoing debate about the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/health-care/24/04/38190140/employees-are-burning-out-and-the-culprit-isnt-what-you-think" rel="noreferrer noopener">demanding work culture</a>&nbsp;in the tech industry.
The controversy surrounding the&nbsp;&#8220;996&#8221;&nbsp;work culture has been a long-standing issue in China, particularly&nbsp;after the unexplained deaths of&nbsp;several tech employees. Despite a government crackdown on excessive work, the practice has persisted, especially during economic downturns.
Meanwhile, Qu has now apologized, stating that her views were personal and not reflective of&nbsp;Baidu&#8217;s&nbsp;stance. As of Friday, she had removed the videos, and her page only displayed the apology.
Subscribe to the&nbsp;<a target="_blank" href="https://bztechtrends.beehiiv.com/subscribe" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to&nbsp;get&nbsp;all the latest tech developments&nbsp;delivered&nbsp;to your inbox.
Why It Matters: The resignation of&nbsp;Baidu&#8217;s&nbsp;media relations chief highlights the ongoing struggle within the Chinese tech industry to address the well-being of its workforce.&nbsp;
In the United States,&nbsp;Daniel McKinnon, a former product manager at&nbsp;both&nbsp;Meta Platforms Inc.&nbsp;and&nbsp;Alphabet&nbsp;Inc.&nbsp;highlighted the differences in&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38635370/meta-or-google-which-tech-giant-offers-better-work-life-balance-heres-what-an-ex-product-manager-who" rel="noreferrer noopener">work-life balance between</a>&nbsp;the two tech giants. He said Meta might appeal more to individuals seeking growth at the expense of stress and pressure, Google&nbsp;could be an excellent option for those prioritizing a healthy work-life balance.
A survey result reported in March&nbsp;2024,&nbsp;found that many employers consider the Gen Z workforce&nbsp;to be&nbsp;toxic and the&nbsp;&#8220;least reliable&#8221;&nbsp;among all generations.&nbsp;This&nbsp;suggests that the work culture debate is&nbsp;not only&nbsp;a&nbsp;<a target="_blank" href="https://www.benzinga.com/personal-finance/24/03/37937158/survey-says-gen-z-workforce-is-toxic-least-reliable-and-thats-just-the-start" rel="noreferrer noopener">concern for the current workforce</a>&nbsp;but also the&nbsp;employers.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38689467/elon-musk-isnt-sure-apples-showed-its-entire-30b-r-d-prowess-with-new-ipads-maybe-they-have-some-sec?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Isn&#8217;t Sure If Apple Showed Its Entire $30B R&amp;D Prowess With New iPads: &#8216;Maybe They Have Some Secret Products…&#8217;</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo by testing on Shutterstock

'Not Your Mother-In-Law:' PR Head Of 'China's Google' Reportedly Loses Her Job After Endorsing Brutal '996' Work Culture

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) faces <a href="https://www.benzinga.com/news/24/04/38474900/tesla-to-cut-693-jobs-in-nevada-amid-global-workforce-reduction-government-notice">escalating job cuts</a> in China as it contends with pressure to regain market share in the world's largest auto market.
Additional layoffs have commenced this week, following cuts in mid-April, part of a global initiative to reduce headcount by over 10%, reported <a href="https://www.bloomberg.com/news/articles/2024-05-09/tesla-ramps-up-job-cuts-in-china-as-sales-slowdown-bites?srnd=industries-v2&amp;sref=TBDibEcD">Bloomberg</a>.
The latest round of layoffs affects various departments, including customer service, engineering, production, and logistics at Tesla's Shanghai plant, responsible for over half of the company's global production. Last month&#8217;s layoffs primarily targeted sales representatives.
It remains uncertain how many individuals will be impacted and the implications for Tesla's China operations. 
A slump in global electric vehicle (EV) demand has prompted Tesla&#8217;s largest layoffs to date. However, the impact is notably pronounced in China, where stiff competition from rivals like BYD Company. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) and <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">subdued consumer sentiment have dented sales. </a>
Shipments from Tesla&#8217;s Shanghai factory dipped by 18% in April, despite a 33% growth in the overall new-energy vehicle market.
Tesla's market share in China contracted to approximately 7.5% in Q1 2024, down from 10.5% in the corresponding period last year.
Also Read: <a href="https://www.benzinga.com/markets/asia/24/05/38616682/elon-musks-tesla-sues-indian-company-for-trademark-infringement-report">Elon Musk&#8217;s Tesla Sues Indian Company For Trademark Infringement: Report</a>
China Overhaul: In addition to ongoing layoffs, Tesla&#8217;s China operations will see the return of Tom Zhu, who previously spearheaded the carmaker's <a href="https://www.benzinga.com/news/24/05/38662366/heir-apparent-departs-elon-musks-rumored-tesla-successor-leaves-north-america-to-sharpen-focus-on-ch">Asia Pacific endeavors and facilitated its entry into China</a>.
Zhu, who was elevated to senior vice president of automotive in April 2023, oversaw global production, sales, deliveries, service, and the company's factories from Tesla's Austin headquarters.
Meanwhile, Tesla has secured preliminary approval from Chinese authorities to deploy its driver-assistance system in China, promising immediate revenue growth.
The approval, subject to conditions, follows successful negotiations with Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) for mapping and navigation, and <a href="https://www.benzinga.com/markets/asia/24/04/38481213/breaking-tesla-reportedly-teams-up-with-baidu-to-roll-out-fsd-in-china">compliance with data security and privacy protocols</a>.
Displaced employees in China are expected to receive severance equivalent to one month&#8217;s pay for every year of service, plus an additional three months&#8217; salary. 
Globally, a surge in executive departures is noted at Tesla, with significant cuts to the 500-person<a href="https://www.benzinga.com/news/24/05/38541246/tesla-ceo-elon-musk-says-supercharger-network-will-still-grow-but-at-a-slower-pace-for-new-locations"> Supercharger team and the newly formed marketing team. </a>
Tesla stock has gained more than 3% in the last 12 months. Investors can gain exposure to the stock via&nbsp;the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) and Fidelity MSCI Consumer Discretionary Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDIS#NYSE">FDIS</a>).
Price Action: TSLA shares are trading lower by 0.4% at $173.93 at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/news/24/05/38587826/tesla-interns-face-the-heat-of-musks-budget-squeeze">Tesla Interns Face The Heat Of Musk&#8217;s Budget Squeeze</a>
Photo: Shutterstock

Once haunted by a domestic real estate collapse reminiscent of a Lehman-like crisis, Chinese stocks witnessed a significant rally in the first part of the year, reviving investor bets on the beginning of a more <a href="https://www.benzinga.com/topic/china">serious and robust recovery</a>.
On Tuesday (May 7), the SSE Composite Index, which includes all stocks listed on the Shanghai Stock Exchange, reached its highest level since September 2023, showcasing a rally of about 19% from the lows in 2024.
The revival in Chinese stocks can be attributed to a confluence of factors. Key among these is the country&#8217;s economic recovery, which has gathered pace after years of turbulence following the bursting of a real estate bubble.
China's economy expanded by 5.3% in the first quarter year-over-year. This growth rate not only outpaced the previous quarter&#8217;s 5.2% but also exceeded the 5% growth expected by analysts.
Surveys on private sector economic activity showed signs of strength in April 2024, with the Caixin Services PMI marking the highest level since May 2023 and the manufacturing PMI also notching expansionary conditions.
Additionally, technical factors such as the massive exit of foreign investors, which put an end to fear-driven selling, have played a crucial role.
<h1 class="wp-block-heading">Chart: Chinese Stocks Have Rebounded 19% Off 2024 Lows – More To Come? </h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/08111237/image-46-1024x495.png" alt="" class="wp-image-328659" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/08111237/image-46-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/08111237/image-46-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/08111237/image-46-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/08111237/image-46-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/08111237/image-46.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">Are Investors Overestimating China&#8217;s Market Recovery? Stock Surge vs. Earnings Reality</h1>
There is a risk investors are moving too early in betting on a Chinese recovery as the earnings season thus far as mostly disappointed expectations. 
As Bank of America&#8217;s strategist Willie Chan reported recently, 77% of Chinese A-shares stocks revised down 2024 earnings, with all sectors witnessing net downward revisions.&nbsp;
&#8220;We&nbsp;believe&nbsp;a&nbsp;fundamental turnaround&nbsp;in&nbsp;economy and&nbsp;earnings would take time,&#8221; Chan stated. 
&#8220;The&nbsp;MSCI China&nbsp;lowered&nbsp;2024E earnings growth from 15.8% YoY in Jan-24&nbsp;to&nbsp;12.1% YoY in&nbsp;Apr-24.&nbsp;&nbsp;We are concerned the market will need to further revise down 2024&nbsp;earnings,&#8221; he added.&nbsp;
The expert noted that while recent macroeconomic data indicated emerging signs of improvement, the first quarter results were still a reflection of the difficult operating environment.
<h1 class="wp-block-heading">A Look at ETFs Tracking China&#8217;s Economic Rebound</h1>
Several (non-levered) exchange-traded funds are available for U.S.-based investors in get exposure to China&#8217;s ongoing economic rebound, each with its unique portfolio and strategy. Here's how they stand:
KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>)
<ul>
<li>AUM: $6.00 Billion</li>
<li>Number of Holdings: 34</li>
<li>Top Holdings: Tencent Holdings ADR (OTCPK: TCEHY); Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>); PDD Holdings Inc. &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>)</li>
<li>Benchmark: CSI Overseas China Internet Index</li>
<li>Net Expenses: 0.70%</li>
<li>Year-to-date Return: 9.52%</li>
<li>Distance From All-Time High: 220%</li>
</ul>
iShares MSCI China ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NYSE">MCHI</a>)
<ul>
<li>AUM: $5.24 Billion</li>
<li>Number of Holdings: 671</li>
<li>Top Holdings: Tencent; Alibaba; PDD</li>
<li>Benchmark: MSCI China Index</li>
<li>Net Expenses: 0.58%</li>
<li>Year-to-date Return: 7.85%</li>
<li>Distance From All-Time High: 108%</li>
</ul>
iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>)
<ul>
<li>AUM: $4.84 Billion</li>
<li>Number of Holdings: 58</li>
<li>Top Holdings: Tencent; Meituan ADR (OTCPK: MPNGY), Alibaba</li>
<li>Benchmark: FTSE China 50 Index</li>
<li>Net Expenses: 0.74%</li>
<li>Year-to-date Return: 11.53%</li>
<li>Distance From All-Time High: 90%</li>
</ul>
SPDR S&amp;P China ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GXC#NYSE">GXC</a>)
<ul>
<li>AUM: $482.09 Million</li>
<li>Number of Holdings: 1,182</li>
<li>Top Holdings: Tencent; Alibaba; PDD</li>
<li>Benchmark: S&amp;P China BMI Index</li>
<li>Net Expenses: 0.59%</li>
<li>Year-to-date Return: 5.49%</li>
<li>Distance From All-Time High: 101%</li>
</ul>
iShares MSCI China A ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNYA#NYSE">CNYA</a>)
<ul>
<li>AUM: $294.50 Million</li>
<li>Number of Holdings: 526</li>
<li>Top Holdings: Kweichow Moutai Co., Ltd.; Contemporary Amperex Technology Co., Ltd.</li>
<li>Benchmark: MSCI China A Inclusion Index</li>
<li>Net Expenses: 0.60%</li>
<li>Year-to-date Return: 4.15%</li>
<li>Distance From All-Time High: 70%</li>
</ul>
Invesco Golden Dragon China ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGJ#NYSE">PGJ</a>)
<ul>
<li>AUM: $158.22 Million</li>
<li>Number of Holdings: 61</li>
<li>Top Holdings: Trip.com Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCOM#NASDAQ">TCOM</a>), Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>)</li>
<li>Benchmark: NASDAQ Golden Dragon China Index</li>
<li>Net Expenses: 0.70%</li>
<li>Year-to-date Return: 0.69%</li>
<li>Distance From All-Time High: 216%</li>
</ul>
Franklin FTSE China ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLCH#NYSE">FLCH</a>)
<ul>
<li>AUM: $111.49 Million</li>
<li>Number of Holdings: 962</li>
<li>Top Holdings: Tencent; Alibaba; PDD</li>
<li>Benchmark: FTSE China Capped Index</li>
<li>Net Expenses: 0.19%</li>
<li>Year-to-date Return: 7.66%</li>
<li>Distance From All-Time High: 106%</li>
</ul>
Read Now: <a href="https://www.benzinga.com/markets/asia/24/05/38682654/biden-administration-tightens-grip-on-chinas-huawei-revokes-key-export-licenses-from-us-chipmakers">Biden Administration Tightens Grip On China&#8217;s Huawei, Revokes Key Export Licenses From US Chipmakers</a>
Photo: Shutterstock

China is witnessing a rapid advancement in the field of artificial intelligence, which is significantly accelerating the development of humanoid robots.
What Happened: The emergence of AI models like OpenAI&#8216;s ChatGPT is revolutionizing the way AI understands and generates human-like content. This technological leap is expediting the development of humanoid robots in China, a country that hosts a significant number of global factories, <a href="https://www.cnbc.com/2024/05/08/how-generative-chatgpt-like-ai-is-accelerating-humanoid-robots.html">reported</a> CNBC.
Local companies in China, such as Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), have introduced similar chatbots and AI models, further propelling the progress in this field.
Generative AI is proving to be a game-changer in the robotics industry, enhancing machines&#8217; ability to understand and perceive their surroundings. This has led to a significant reduction in the projected timeline for the development of humanoid robots.
See Also: <a href="https://www.benzinga.com/news/24/05/38542692/tesla-ceo-elon-musk-is-impressed-by-the-fact-that-jeff-bezos-aws-12-month-revenue-is-higher-than-466?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos&#8217; AWS 12-Month Revenue Is Higher Than 466 S&amp;P 500 Companies: &#8216;Wow&#8217;</a>
Li Zhang, the Chief Operating Officer of LimX Dynamics, a Shenzhen-based startup, initially estimated an 8-10 year timeline for the production of humanoid robots. However, with the integration of generative AI, Li now anticipates that certain use cases will be ready in 5-7 years."It has accelerated our entire research and development cycle," he said.
In November, Chinese state media released an image showing Chinese President Xi Jinping observing a humanoid robot at an exhibition center during his inaugural <a href="https://english.news.cn/20231129/ef5d4730f9e74b2d87a4186f022ef7d4/c.html">visit to Shanghai</a> since the pandemic. The robot in question was created by Fourier Intelligence.
Steve Hoffman, the chairman of the startup accelerator Founders Space, revealed his collaboration with Fastra, a Chinese startup poised to commence large-scale robot production within a year. He mentioned dedicating time in China this year to instructing local enterprises on incorporating generative AI into their operations.
Why It Matters: The advancements in AI and robotics are reshaping the future of automation and labor. This is evident in the significant investments and developments in the field of humanoid robots in China.
Earlier in March, Jensen Huang, the CEO of NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), explained that the company&#8217;s decision to venture into <a href="https://www.benzinga.com/news/24/03/37862375/jensen-huang-reveals-why-nvidia-is-betting-big-on-humanoid-robot-and-embodied-ai">humanoid robots</a> was driven by the fact that most of the data used to train them is derived from human movements.
Meanwhile, Elon Musk, the CEO of Tesla Inc, has been making significant strides in the development of humanoid robots. Musk recently hinted at the possibility of Tesla&#8217;s humanoid robot, Optimus, being <a href="https://www.benzinga.com/news/24/04/38395385/elon-musk-says-tesla-optimus-humanoid-robot-might-be-available-externally-by-the-end-of-next-year-he">available for external sale</a> by the end of 2025.
Read Next: <a href="https://www.benzinga.com/news/24/05/38634153/jack-dorsey-steps-down-from-bluesky-board-amidst-controversy-at-block-refers-to-elon-musks-x-as-free?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jack Dorsey Steps Down From Bluesky Board Amidst Controversy At Block, Refers To Elon Musk&#8217;s X As &#8216;Freedom Technology&#8217;</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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NVDA

China's AI Advancements Accelerate Humanoid Robot Development: What You Need To Know

Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Tuesday.</a>
During his recent visit to China,&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/elon-musk" rel="noreferrer noopener">Elon Musk</a>, CEO of Tesla, reportedly suggested testing&nbsp;the&nbsp;full self-driving (FSD) capabilities&nbsp;of its vehicles&nbsp;by deploying them as &#8220;taxis.&#8221;&nbsp;
The Chinese government might have&nbsp;provided partial support for&nbsp;this proposal, China Daily&nbsp;<a target="_blank" href="https://www.chinadaily.com.cn/a/202405/08/WS663a521da31082fc043c5c31.html#:~:text=A%20source%20close%20to%20Baidu,into%20its%20vehicles%20in%20China." rel="noreferrer noopener">reported</a>, citing its sources.
Apart from seeking approval for its advanced FSD software rollout in China, Musk also proposed integrating these functions into the country&#8217;s taxi services, according to sources familiar with the matter, as added by China Daily.
According to&nbsp;Benzinga Pro,&nbsp;TSLA stock has gained over 4% in the past year.&nbsp;
Industry experts noted that despite increasing protectionism, exemplified by TikTok&#8217;s ban in the U.S., China has signaled its willingness&nbsp;to further open its doors to multinational companies.&nbsp;
This move&nbsp;aims to allow&nbsp;these companies to test their advanced technologies in the country for mutual benefit.
Chinese internet company Baidu, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) held a press conference on April 20, announcing collaborations with various companies, including Tesla,&nbsp;for the launch of&nbsp;its advanced lane-level navigation system, China Daily stated.
Several media reports suggested that Tesla had struck a deal with Baidu to overcome a regulatory obstacle for its autonomous driving services. However, a source close to Baidu informed China Daily that they had not observed &#8220;any new deal related to FSD functions&#8221; between the two companies.
The company has also been in the headlines for revealing plans to shut down production in Grünheide for four days.&nbsp;
Due to ongoing multi-day protests against Tesla&#8217;s expansion in Grünheide, the electric vehicle giant has decided to have all employees work from home this Friday, according to&nbsp;<a target="_blank" href="https://www.handelsblatt.com/unternehmen/industrie/elektromobilitaet-tesla-legt-produktion-in-gruenheide-fuer-vier-tage-still/100037131.html" rel="noreferrer noopener">Handelsblatt</a>.
Price Action:&nbsp;TSLA shares are trading lower by 3.31% to $178.64 at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Movers

General

What's Going On With Tesla Shares Tuesday?

<a href="https://www.chinadaily.com.cn/a/202405/08/WS663a521da31082fc043c5c31.html#:~:text=A%20source%20close%20to%20Baidu,into%20its%20vehicles%20in%20China" title="https://www.chinadaily.com.cn/a/202405/08/WS663a521da31082fc043c5c31.html#:~:text=A%20source%20close%20to%20Baidu,into%20its%20vehicles%20in%20China">https://www.chinadaily.com.cn/a/202405/08/WS663a521da31082fc043c5c31.html#:~:text=A%20source%20close%20to%20Baidu,into%20its%20vehicles%20in%20China</a>.

"Tesla Plans To Test Its 'Robotaxi' In China;  A Source Close To Baidu Told China Daily That He Didn't See 'Any New Deal Related To FSD Functions' Between The Two" - China Daily

Investors with a lot of money to spend have taken a bullish stance on Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>).
And retail traders should know.
We noticed this today when the positions 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. But when something this big happens with BIDU, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Baidu.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 27%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $308,763, and 10, calls, for a total amount of $782,635.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $95.0 to $130.0 for Baidu over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Baidu's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Baidu's whale activity within a strike price range from $95.0 to $130.0 in the last 30 days. 
<h3>Baidu 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715093162_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$13.2</td>
<td>$12.85</td>
<td>$13.0</td>
<td>$100.00</td>
<td>$382.2K</td>
<td>1.7K</td>
<td style="text-align: right;">354</td>
</tr>
<tr>
<td>BIDU</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$1.19</td>
<td>$1.14</td>
<td>$1.17</td>
<td>$95.00</td>
<td>$308.7K</td>
<td>4.6K</td>
<td style="text-align: right;">638</td>
</tr>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$12.95</td>
<td>$12.65</td>
<td>$12.79</td>
<td>$100.00</td>
<td>$125.3K</td>
<td>1.7K</td>
<td style="text-align: right;">452</td>
</tr>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$5.5</td>
<td>$5.15</td>
<td>$5.5</td>
<td>$130.00</td>
<td>$46.7K</td>
<td>1.9K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$1.14</td>
<td>$1.11</td>
<td>$1.15</td>
<td>$120.00</td>
<td>$45.9K</td>
<td>4.7K</td>
<td style="text-align: right;">83</td>
</tr>
</tbody>
</table>

<h3>About Baidu</h3>
Baidu is the largest internet search engine in China with 84% share of the search engine market in September 2021 per web analytics firm, Statcounter. The firm generated 72% of core revenue from online marketing services from its search engine in 2022. Outside its search engine, Baidu is a technology-driven company and its other major growth initiatives are artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving.
<h3>Baidu's Current Market Status</h3>
<ul>
<li>With a trading volume of 1,269,225, the price of BIDU is down by -2.73%, reaching $110.24.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 9 days from now.</li>
</ul>
<h3>What The Experts Say On Baidu</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $167.0.
<ul>
<li>Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for Baidu, targeting a price of $180. </li>
<li>An analyst from HSBC has decided to maintain their Buy rating on Baidu, which currently sits at a price target of $145. </li>
<li>An analyst from Citigroup persists with their Buy rating on Baidu, maintaining a target price of $176. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Baidu options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

This Is What Whales Are Betting On Baidu

During the last three months, 4 analysts shared their evaluations of Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), revealing diverse outlooks from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $158.5, a high estimate of $180.00, and a low estimate of $133.00. Observing a downward trend, the current average is 7.58% lower than the prior average price target of $171.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1715000414_0_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The standing of Baidu among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Fawne Jiang</td>
<td>Benchmark</td>
<td>Lowers</td>
<td>Buy</td>
<td>$180.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Charlene Liu</td>
<td>HSBC</td>
<td>Lowers</td>
<td>Buy</td>
<td>$145.00</td>
<td>$157.00</td>
</tr>
<tr>
<td>Alicia Yap</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$176.00</td>
<td>$181.00</td>
</tr>
<tr>
<td>Jiong Shao</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$133.00</td>
<td>$138.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Baidu. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Baidu compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Baidu's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Baidu's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/BIDU/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Baidu analyst ratings.</a>
<h2>Delving into Baidu's Background</h2>
Baidu is the largest internet search engine in China with 84% share of the search engine market in September 2021 per web analytics firm, Statcounter. The firm generated 72% of core revenue from online marketing services from its search engine in 2022. Outside its search engine, Baidu is a technology-driven company and its other major growth initiatives are artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving.
<h3>Baidu: Delving into Financials</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Baidu displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 5.67%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Communication Services sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Baidu's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.38% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 0.77%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Baidu's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.46%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Baidu's debt-to-equity ratio is below the industry average at 0.35, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Basics of Analyst Ratings</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into Baidu Stock: Analyst Perspectives (4 Ratings)

Benchmark analyst Fawne Jiang maintains Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) with a Buy and lowers the price target from $210 to $180.

Benchmark Maintains Buy on Baidu, Lowers Price Target to $180

Deep-pocketed investors have adopted a bearish approach towards Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BIDU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 23 extraordinary options activities for Baidu. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 21% leaning bullish and 56% bearish. Among these notable options, 2 are puts, totaling $118,980, and 21 are calls, amounting to $1,311,527.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $135.0 for Baidu during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Baidu options trades today is 1974.22 with a total volume of 5,841.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Baidu's big money trades within a strike price range of $100.0 to $135.0 over the last 30 days.
<h3>Baidu 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714750275_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$20.0</td>
<td>$19.65</td>
<td>$20.0</td>
<td>$100.00</td>
<td>$212.0K</td>
<td>955</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/10/24</td>
<td>$13.1</td>
<td>$12.45</td>
<td>$12.45</td>
<td>$100.00</td>
<td>$124.5K</td>
<td>524</td>
<td style="text-align: right;">130</td>
</tr>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$6.3</td>
<td>$6.15</td>
<td>$6.3</td>
<td>$120.00</td>
<td>$100.8K</td>
<td>681</td>
<td style="text-align: right;">19</td>
</tr>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$5.05</td>
<td>$4.6</td>
<td>$5.05</td>
<td>$125.00</td>
<td>$90.9K</td>
<td>815</td>
<td style="text-align: right;">55</td>
</tr>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$9.2</td>
<td>$8.9</td>
<td>$9.2</td>
<td>$105.00</td>
<td>$89.0K</td>
<td>4.9K</td>
<td style="text-align: right;">25</td>
</tr>
</tbody>
</table>

<h3>About Baidu</h3>
Baidu is the largest internet search engine in China with 84% share of the search engine market in September 2021 per web analytics firm, Statcounter. The firm generated 72% of core revenue from online marketing services from its search engine in 2022. Outside its search engine, Baidu is a technology-driven company and its other major growth initiatives are artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving.
After a thorough review of the options trading surrounding Baidu, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Baidu Standing Right Now?</h3>
<ul>
<li>With a volume of 1,562,501, the price of BIDU is up 0.15% at $111.92. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 13 days.</li>
</ul>
<h3>What Analysts Are Saying About Baidu</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $160.5.
<ul>
<li>An analyst from Citigroup persists with their Buy rating on Baidu, maintaining a target price of $176. </li>
<li>Consistent in their evaluation, an analyst from HSBC keeps a Buy rating on Baidu with a target price of $145. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Baidu, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

A Closer Look at Baidu's Options Market Dynamics

Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) has outperformed the market over the past 15 years by 3.8% on an annualized basis producing an average annual return of 15.69%. Currently, Baidu has a market capitalization of $38.35 billion. 
Buying $100 In BIDU: If an investor had bought $100 of BIDU stock 15 years ago, it would be worth $886.15 today based on a price of $109.38 for BIDU at the time of writing.
<h3>Baidu's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714662025_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

If You Invested $100 In This Stock 15 Years Ago, You Would Have $900 Today

WIIM

BEKE

BILI

FUTU

HTHT

MNSO

NTES

YUMC

Shares of US-listed Chinese stocks are trading higher amid the start of the Labor Day Golden Week. Wednesday's Fed decision and strong deliveries from EV makers may also be lifting Chinese stocks on Thursday.

The recent <a href="https://www.benzinga.com/markets/asia/24/04/38418913/tiktok-fights-back-we-arent-going-anywhere-whats-next-for-users">divest-or-be-banned legislation aimed at TikTok</a> has sparked a wave of debate over how much the government should be allowed to control people&#8217;s access to content and media.
The legislation, signed into law by President Joe Biden last week, gives the Beijing-based social media platform nine months to a year to sell its U.S. operations or face an outright ban.
While the law presents TikTok's parent company ByteDance with two options, some commentators, including the company's CEO, have said the dilemma is actually a moot point and lawmakers supporting the law passed it knowing it would effectively signify a ban on the platform.
The bill achieved bipartisan support after a series of classified briefings convinced lawmakers that having 170 million TikTok users in the country presents a sufficiently important national security risk to push the bill forward.&nbsp;
On Monday, European Commission president Ursula von der Leyen said <a href="https://www.benzinga.com/news/24/04/38508391/after-biden-signs-tiktok-ban-into-law-top-eu-leader-says-not-ruling-out-action-against-chinese-platf">the European Union might soon follow suit</a>.
The event is a first in U.S. internet history. Congress has passed several laws aimed at responsible internet usage among the population, like the Digital Millennium Copyright Act of 1998, which has the intent of stopping piracy and copyright violations. 
Certain types of content like child pornography are deemed obscene and therefore are illegal and not protected by the First Amendment, yet the TikTok bill marks the first time the federal government opens the possibility of banning a massively used app or site.
TikTok CEO Shou Chew has called the ban an attack on freedom of speech <a href="https://www.benzinga.com/news/24/04/38500093/tiktok-ban-courts-must-decide-whether-national-security-concerns-trump-freedom-of-expression">and promised his company will contest the law in court.</a> 
Read also: <a href="https://www.benzinga.com//node/38513046">Xi Jinping Puts On European Charm Offensive: Can China Woo EU Amid Simmering US Tensions?</a>
<h3 class="wp-block-heading">What Is The Great Firewall Of China?</h3>
Named in reference to the country's ancient 13,000-mile fortification, the Great Firewall of China refers to a series of measures taken by the Chinese government to control internet traffic within the country's borders since the mid-1990s. 
Visitor from another country will find that sites like Google and YouTube, owned by Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>); Facebook, owned by Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>); Wikipedia or Twitter won't work when connected to a Chinese wifi network or cell phone carrier. 
Apps like Instagram; Snapchat, owned by Snap Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>); and Whatsapp, as well as sites for all the major U.S. publications like the Wall Street Journal or the New York Times Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>), are also banned, Time <a href="https://time.com/6139988/countries-where-twitter-facebook-tiktok-banned/">reports</a>.
TikTok itself is banned in China. ByteDance offers Douyin, a cousin app with a similar design that adheres to the country's strict censorship laws. The app is the country's most popular short-video sharing app, with 700 million active monthly users last May, according to QuestMobile.
Some years after the internet arrived in China, the Chinese Communist Party began a campaign to block all sites that would conflict with the country's goals of "internet sovereignty," which aspires to control the inflow and outflow of information to keep in line with the party's ideology, The Washington Post <a href="https://www.washingtonpost.com/world/asia_pacific/chinas-scary-lesson-to-the-world-censoring-the-internet-works/2016/05/23/413afe78-fff3-11e5-8bb1-f124a43f84dc_story.html">reports</a>.
The measures are aimed at avoiding at what the Chinese government views as the social, economic and national security risks of allowing foreign websites into the population's devices.
The consequences of the Great Firewall are palpable: China's main internet products and services are Chinese-owned. Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) is the country's main search engine, while social platforms WeChat and Qzone, owned by Tencent Holdings ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>), have the highest number of users.
Chinese people and foreigners can illegally access forbidden sites and apps in China by using a VPN service. 
The U.S. government has not made clear what method it would use to effectively ban the app in the country, making it hard to speculate how users might be able to bypass the government restrictions and still be able to use TikTok.
Benzinga's Take: The historic measure to force TikTok to divest its U.S. assets or face a ban can be seen within the context of a recent wave of protectionist measures that are gaining bipartisan support in Washington. 
As armed conflicts and geopolitical tensions gain weight in the political discussion, many Western nations, including the U.S., are developing protectionist measures in an effort to secure economic stability and national security as the global stage becomes increasingly unstable.
Limiting Chinese penetration into the U.S. economy has been a central part of Biden's plan to boost and protect domestic industries, <a href="https://www.benzinga.com/markets/equities/24/03/37750567/biden-to-present-intel-with-chips-act-award-cementing-arizona-as-semiconductor-hotspot-report">including semiconductors</a> and <a href="https://www.benzinga.com/government/24/02/37029580/team-biden-considers-tougher-rules-on-chinese-smart-cars-amid-data-privacy-push-report">electric vehicles</a>.
Shutterstock image.

Politics

GOOG

SNAP

TikTok Ban: Is The US Government Taking A Page From China's Censorship Book?

Financial giants have made a conspicuous bearish move on Baidu. Our analysis of options history for Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) revealed 12 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 58% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $626,415, and 5 were calls, valued at $240,425.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $95.0 to $160.0 for Baidu during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Baidu's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Baidu's substantial trades, within a strike price spectrum from $95.0 to $160.0 over the preceding 30 days.
<h3>Baidu Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714585548_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BIDU</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$8.75</td>
<td>$8.55</td>
<td>$8.63</td>
<td>$105.00</td>
<td>$431.5K</td>
<td style="text-align: right;">515</td>
<td style="text-align: right;">500</td>
</tr>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$14.3</td>
<td>$13.95</td>
<td>$14.3</td>
<td>$110.00</td>
<td>$65.7K</td>
<td style="text-align: right;">940</td>
<td style="text-align: right;">55</td>
</tr>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$14.4</td>
<td>$14.3</td>
<td>$14.3</td>
<td>$110.00</td>
<td>$47.1K</td>
<td style="text-align: right;">940</td>
<td style="text-align: right;">34</td>
</tr>
<tr>
<td>BIDU</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/16/24</td>
<td>$4.75</td>
<td>$4.65</td>
<td>$4.7</td>
<td>$120.00</td>
<td>$46.0K</td>
<td style="text-align: right;">485</td>
<td style="text-align: right;">102</td>
</tr>
<tr>
<td>BIDU</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$56.5</td>
<td>$55.95</td>
<td>$56.5</td>
<td>$160.00</td>
<td>$45.2K</td>
<td style="text-align: right;">35</td>
<td style="text-align: right;">15</td>
</tr>
</tbody>
</table>

<h3>About Baidu</h3>
Baidu is the largest internet search engine in China with 84% share of the search engine market in September 2021 per web analytics firm, Statcounter. The firm generated 72% of core revenue from online marketing services from its search engine in 2022. Outside its search engine, Baidu is a technology-driven company and its other major growth initiatives are artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving.
<h3>Present Market Standing of Baidu</h3>
<ul>
<li>Currently trading with a volume of 1,241,294, the BIDU's price is up by 0.96%, now at $104.39. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 15 days.</li>
</ul>
<h3>Professional Analyst Ratings for Baidu</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $160.5.
<ul>
<li>Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Baidu with a target price of $176. </li>
<li>An analyst from HSBC persists with their Buy rating on Baidu, maintaining a target price of $145. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Baidu with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

What the Options Market Tells Us About Baidu

Recent deals from Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) are expected to bolster <a href="https://www.benzinga.com/topic/china">China&#8217;s tech market</a>.
What Happened: Elon Musk-led Tesla is partnering with Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) to introduce <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off">driver assistance features in China</a>.
Apple, under the helm of CEO Tim Cook, <a href="https://www.benzinga.com/government/24/04/38460042/apple-strengthens-supply-chain-in-china-while-growing-presence-in-southeast-asia-and-india">is expanding its production</a> footprint in Southeast Asia and India, striking a delicate balance between political pressures and business expansion.
"There's only two companies able to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38491219/apple-and-tesla-only-two-companies-able-to-thread-the-needle-in-terms-of-china-us-s">thread the needle</a> in terms of China-US. It's Cook in Cupertino, and Musk and Tesla,&#8221; said Wedbush&#8217;s Dan Ives in the backdrop of Cook and Musk&#8217;s recent China visits.
Related: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38506689/teslas-fsd-nod-win-seen-as-move-to-smooth-over-chinese-evs-entry-into-the-us-market-says">Tesla&#8217;s FSD Nod Win Seen As Move To &#8216;Smooth Over Chinese EV&#8217;s Entry Into The US Market&#8217; Says Redditor</a>
The Baidu agreement underscores Tesla&#8217;s commitment to the country&#8217;s burgeoning electric vehicle market And Apple increased its number of China-based suppliers and manufacturing sites in 2023, thereby reducing its reliance on suppliers from Taiwan, Japan, and South Korea. 
<h3 class="wp-block-heading">Analysts Optimistic About China</h3>
Analysts remain optimistic about China&#8217;s growth prospects, with UBS and Goldman Sachs upgrading China stocks and predicting significant upside potential. 
Related: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38388793/ubs-upgrades-china-stocks-amid-valuation-collapse-what-investors-need-to-know">UBS Upgrades China Stocks Amid &#8216;Valuation Collapse&#8217;: What Investors Need to Know</a>
UBS&#8217; Sunil Tirumalai highlighted resilient earnings and positive interventions from state-related funds as reasons for optimism. According to Tirumalai, the underperformance of China stocks can be attributed solely to a "valuation collapse.&#8221;
Goldman Sachs&#8217; Kinger Lau emphasized the potential upside for Chinese stocks if reform policies can be successfully implemented by the CSRC. 
&#8220;A-shares could rise ~20% if they could narrow the gaps with international averages along these dimensions, and could re-rate as much as 40% if they catch up with global leaders in our blue-sky scenario,&#8221; he said.
The Asian Development Bank (ADB) also positions China as a key growth engine despite a slight slowdown, highlighting its dominant role in global growth.
Read: <a href="https://www.benzinga.com/markets/asia/24/04/38205458/china-accounts-for-nearly-half-of-asia-pacific-gdp-while-india-is-a-bright-spot-economist-says-key-e">China Accounts For &#8216;Nearly Half Of Asia-Pacific GDP&#8217; While India Is A &#8216;Bright Spot,&#8217; Economist Says: Key ETFs To Watch</a>
<h3 class="wp-block-heading">How To Capitalize On The China Stock Market Bottom</h3>
Investors can capitalize on these developments by diversifying their portfolios with ETFs that offer exposure to China&#8217;s growth trajectory. 
ETFs like KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>), the iShares MSCI China ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NYSE">MCHI</a>), and the iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) provide diversified exposure to China&#8217;s booming internet sector and large-cap companies, presenting compelling investment opportunities.
China&#8217;s tech market presents a promising landscape for investors, with strategic moves by companies like Apple and Tesla, along with bullish analyst sentiments, indicating a potential resurgence in the region. 
Henry Greene, Chief Investment Strategist at KraneShares, pointed out in a recent exclusive interview with Benzinga, that &#8220;China&#8217;s stock market has bottomed&#8221;, suggesting a rare opportunity for investors to capitalize on the market&#8217;s potential.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/04/38097022/exclusive-chinas-stock-market-has-bottomed-indicating-a-potentially-rare-opportunity-says-investment?utm_source=InvestingUK&amp;utm_campaign=partner_feed&amp;utm_medium=partner_feed&amp;utm_content=TopStories">EXCLUSIVE &#8211; &#8216;China&#8217;s Stock Market Has Bottomed, Indicating A Potentially Rare Opportunity,&#8217; Says Investment Strategist</a>

Analyst Color

Emerging Market ETFs

AAPL

China Stock Ideas For Tech Resurgence: Tesla, Apple Make Strategic Moves; Goldman Sachs Projects 40% Upside Potential

Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/topic/autonomous-driving">full self-driving, or FSD, technology</a> &#8220;is not yet an eyes-off/unsupervised product,&#8221; according to Goldman Sachs analyst Mark Delaney.
The Elon Musk-led company recently partnered with Beijing-based Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) as part of an initiative that is expected to pave the way for FSD service in China.
&#8220;We consider the China news a directional positive,&#8221; Delaney said in a research note. The anticipated growth in FSD/software revenue over the long term had already been factored into Goldman Sachs&#8217; valuation.
See Also: <a href="https://www.benzinga.com/news/24/04/38286437/tesla-ceo-elon-musk-says-going-balls-to-the-wall-for-autonomous-driving-is-blindingly-obvious-as-eve">Tesla CEO Elon Musk Says &#8216;Going Balls To The Wall&#8217; For Autonomous Driving Is &#8216;Blindingly Obvious&#8217;</a>
Tesla&#8217;s stock soared 15.3% on Monday after the electric vehicle (EV) manufacturer obtained regulatory approval to deploy supervised FSD in China. 
This marked the most significant one-day percentage increase since March 2021. Coupled with gains following last week&#8217;s post-Q1 results, it&#8217;s the most robust five-day upswing for the Elon Musk-led company since September 2020.
Chart: Tesla Notched Best Session In Three Years, Strongest 5-Day Performance In Nearly Four
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30080433/image-254-1024x495.png" alt="" class="wp-image-315104" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30080433/image-254-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30080433/image-254-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30080433/image-254-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30080433/image-254-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/30080433/image-254.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38510252/jim-cramer-says-tesla-stock-will-keep-running-until-all-shorts-are-crushed-praises-elon-musks-ch">Jim Cramer Praises Elon Musk&#8217;s China FSD Deal As &#8216;Perfect Example Of Redefining Narrative&#8217;</a>
<h3 class="wp-block-heading">Why Goldman Sachs Is Exercising Caution</h3>
Tesla has primarily concentrated its FSD research and development efforts on North America, Delaney notes. 
&#8220;While we believe much of Tesla&#8217;s engineering work would be applicable globally, we think the company would need to make local adjustments to the product. Importantly, Tesla will also need to navigate government regulations on data access, localization, and AI, which could complicate technology sharing within and outside of China,&#8221; Delaney said.
Furthermore, the analyst highlighted the competitive landscape of the Advanced Driver Assistance Systems (ADAS) and autonomy markets in China. Both proprietary and third-party ADAS systems, as well as autonomous vehicles (AVs), have already been deployed in several cities.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38511044/tesla-has-the-endorsement-of-xi-jinpings-government-this-is-what-serious-elon-musk-">This Is What &#8216;Serious&#8217; Elon Musk Showed To Investors In China, Says Expert</a>
Delaney asserted that Goldman Sachs&#8217; $175 price target over the next 12 months is already indicative of Tesla&#8217;s growth potential. That&#8217;s particularly the case in lucrative sectors such as FSD. Software revenue is anticipated to experience an uptick from its current level to tens of billions by 2030.
In the more optimistic scenario, Goldman Sachs foresees Tesla reaching a range of $220-$300 over the next 12-24 months. This projection is based on a multiple of 50X-60X applied to estimated earnings per share for 2026. 
Conversely, in a downside scenario, the stock could decline to the range of $65-$85. This scenario factors in a potential decrease in investor optimism regarding the software and services opportunity, utilizing a multiple of approximately 30X applied to 2024 EPS.
Now Read: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38506689/teslas-fsd-nod-win-seen-as-move-to-smooth-over-chinese-evs-entry-into-the-us-market-says">Tesla&#8217;s FSD Nod Win Seen As Move To &#8216;Smooth Over Chinese EV&#8217;s Entry Into The US Market</a>

Government

Regulations

Goldman Sachs Tempers Investor Excitement On Tesla Self-Driving Tech In China: 'Not Yet An Eyes-Off, Unsupervised Product'

U.S. stocks kicked off the week on a positive note, with all major averages edging higher in anticipation of significant events including earnings reports from tech giants like Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) on Tuesday and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) on Thursday, a pivotal Federal Reserve Open Market Committee meeting on Wednesday, and the April&#8217;s <a href="https://www.benzinga.com/topic/labor-market">jobs report on Friday.</a>
The S&amp;P 500 rose 0.2% by midday trading in New York, following a 1% surge last Friday. Both the tech-heavy Nasdaq 100 and blue-chip stocks in the Dow Jones made similar gains. 
Small caps, as tracked by iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), outperformed large-cap stocks, rising as much as 0.9%. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) grabbed the market spotlight by securing a significant partnership with Chinese search engine giant Baidu Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NYSE">BIDU</a>), which granted the Elon Musk-led company access to its mapping license for data collection <a href="https://www.benzinga.com/news/24/04/38491516/teslas-model-3-and-model-y-clear-chinas-data-security-hurdle-fsd-software-deployment-nears">on China&#8217;s public roads. </a> 
The deal removes a last regulatory barrier for Tesla&#8217;s driver assistance system, known as Full Self-Driving (FSD), to be introduced in China. Shares of Tesla rose as much as 16% Monday. 
The Bank of Japan sent shockwaves through the forex exchange market by intervening to support the value of the Japanese yen, which had plummeted to as low as <a href="https://www.benzinga.com/markets/asia/24/04/38494691/japan-intervenes-to-support-struggling-yen-why-did-it-trigger-nikkei-225-dip-4-charts-to-watch">160 per dollar overnight.</a> This action spurred a significant reversal in the USD/JPY exchange rate, plunging to as low as 155 by 1 p.m. ET.
In the commodities market, natural gas prices jumped by nearly 7% on improved demand forecasts, with the U.S. Henry Hub futures surpassing $2 per million British thermal units. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 0.5% lower, on track to notch a six-day losing streak. 
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices &amp; ETFs</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,020.94</td>
<td>0.8%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,357.10</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,770.47</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,112.21</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.3% to $509.73, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.3% to $383.49 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% up to $432.31, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 2.3%, followed by the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>), up 1.5%. The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) was the major laggard, down 1%.
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Lithium miners rallied on strong EV momentum, with Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>), Piedmont Lithium Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PLLTL#OTC">PLLTL</a>) and Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) up 16%, 10% and 7%, respectively.</li>
<li>AMC International Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) fell 10.8% on weaker first-quarter preliminary results. </li>
<li>SoFi Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) fell 10% as second-quarter revenue guidance missed Street&#8217;s forecasts. </li>
<li>Other stocks reacting to earnings were ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) up 3.3%, Dominos Pizza Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) up 6%, Revvity Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) up 3.8%, Franklin Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>) down over 6%, </li>
<li>Deciphera Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCPH#NASDAQ">DCPH</a>) saw its shares soar by 73% to $25.36 following the announcement of its acquisition by ONO Pharmaceutical for $25.60 per share in cash.</li>
<li>Soleno Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNO#NASDAQ">SLNO</a>) witnessed a 31.1% surge in its shares to $49.66 after the company revealed it had been granted Breakthrough Therapy Designation from the FDA for DCCR extended-release tablets in the treatment of Prader-Willi Syndrome. </li>
<li>Notable names reporting after the close are F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>), Qiagen NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>) and Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>).</li>
</ul>
Read Now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38497224/ai-data-centers-drive-electricity-demand-goldman-sachs-picks-16-stocks-to-play-the-">AI Data Centers Drive Electricity Demand: Goldman Sachs Picks 16 Stocks To Play The Trend</a>
Photo: Shutterstock

Earnings

Earnings Beats

Earnings Misses

Mid Cap

Broad U.S. Equity ETFs

Commodities

Forex

$BTC

ALTM

AMZN

DCPH

SPDR Dow Jones Industrial Average ETF Trust

FFIV

LSCC

MSTR

NXPI

PARA

PARAA

PLLTL

QGEN

RMBS

RVTY

SANM

SLNO

SOFI

US Stocks Kick Off The Week In The Green, Tesla Rockets On China's FSD Approval, Yen Rallies: What's Driving Markets Monday?

Watching Tesla; Wells Fargo Analyst Says "The Tesla News Is Overdone, While It's Positive To Get Approval For FSD In China, Key Details Are Unclear. The Partnership With Baidu Helped Ease China Regulators' Concerns Over Data Security. However, There're No Details Of The Partnership In Terms Of Economics & Data Sharing"

To gain an edge, this is what you need to know today.
<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/04/2024-04-29_08h29_55.png" style="height:341px; width:624px" />
<h3>Game Changer</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-china-full-self-driving-cars-tesla-apple-advantage-tsla-mc-04292024">click here</a> for an enlarged chart of Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) and Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock.&nbsp;The charts of TSLA and AAPL are being used to illustrate the point.</li>
<li>The chart shows that TSLA stock is jumping about $20 on the announcement from China.</li>
<li>The chart shows that this big jump follows the stock jump after earnings in which Tesla reported terrible numbers.</li>
<li>In the <a href="https://blog.thearorareport.com/musk-042424/">Morning Capsule from April 24</a>, we shared with you three points that were causing not only TSLA stock to jump on bad earnings but were also lifting sentiment across the entire stock market.
<ul>
<li>Tesla accelerating development of a cheaper model</li>
<li>Tesla&rsquo;s plan to own and deploy a fleet of 1M robotaxis</li>
<li>Tesla increasing its AI capacity</li>
<li>For details, please see the referenced Morning Capsule.</li>
</ul>
</li>
<li>Tesla stock is jumping today as Musk scored a coup in a surprise visit to China.&nbsp;China has, in principle, approved Tesla Full Self Driving (FSD).
<ul>
<li>To meet Chinese regulations, Tesla is partnering with Chinese company Baidu Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bidu#NASDAQ">BIDU</a>) for mapping and navigation.&nbsp; As full disclosure, BIDU has been on the Arora AI stock list.&nbsp;The Tesla deal has triggered a buy signal.&nbsp;To learn about the trigger event screen of the ZYX Change Method, please <a href="https://thearorareport.com/zyx-trigger-event-screen/">click here</a>.</li>
</ul>
</li>
<li>Tesla&rsquo;s deal in China is also lifting AAPL stock.&nbsp;Tesla&rsquo;s deal indicates a reduction in the China risk for Apple.&nbsp; Also helping Apple is a broker upgrade.</li>
<li>On the negative side, the European commission has designated iPadOS as a gatekeeper under DMA.&nbsp;This indicates that the regulatory pressure on Apple is ratcheting up, which is a negative.</li>
<li>The chart shows when the Arora signal was given to hedge AAPL stock.&nbsp;The hedge is nicely profitable.&nbsp;As full disclosure, a signal has triggered to take partial profits on the hedge.&nbsp;&nbsp;</li>
<li>The move up in TSLA and AAPL is lifting the sentiment across the entire stock market.</li>
<li>Apple will be reporting earnings on Thursday.&nbsp;Apple earnings have the potential to move the entire stock market.&nbsp;</li>
<li>Treasury refunding announcement is ahead.&nbsp;The last Treasury refunding announcement caused big stock and bond market rallies as the Treasury designed it specifically to rally the stock and bond markets.&nbsp;We will be carefully reviewing the Treasury announcement.&nbsp;</li>
</ul>
<h3>Japan</h3>
Overnight, Japan intervened in the forex markets to prop up the yen.&nbsp;There was significant volatility causing about a six point range in yen trading.&nbsp;For a currency, this is a big range.&nbsp;This is the first Japanese intervention since 2022.
Japanese intervention is also creating positive sentiment.
<h3>Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in AAPL, Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), and TSLA.
In the early trade, money flows are neutral in&nbsp;Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) and NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>).
In the early trade, money flows are negative in Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) and Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>).
In the early trade, money flows are mixed in SPDR S&amp;P 500 ETF Trust (ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h3>Momo Crowd And Smart Money In Stocks</h3>
The momo crowd is buying stocks in the early trade.&nbsp;Smart money is inactive in the early trade.
<h3>Gold</h3>
The momo crowd is buying gold in the early trade.&nbsp;Smart money is inactive in the early trade.
For longer-term, please see gold and silver ratings.
The most popular ETF for gold is SPDR Gold Trust (ARCA:GLD). The most popular ETF for silver is iShares Silver Trust (ARCA:SLV).&nbsp;
<h3>Oil</h3>
The momo crowd is buying oil in the early trade.&nbsp;Smart money is inactive in the early trade.
For longer-term, please see oil ratings.
The most popular ETF for oil is United States Oil ETF (ARCA:USO).
<h3>Bitcoin</h3>
There is disappointment that bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was not run up by bitcoin whales taking advantage of the low liquidity over the weekend.
Those who fell prey to bitcoin halving pitches orchestrated by bitcoin whales and bought bitcoin over $70,000 are now sitting on losses.&nbsp;
<h3>Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3>Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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MSFT

A Game Changer For Tesla In China Also Helping Apple, Japan Intervenes, Treasury Refunding

Chinese tech stocks dip amid earnings of US cloud software companies

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The Chinese economy and many Chinese companies have struggled on a general scale over the last few years. The slowdown was primarily due to tightening government <a href="https://kpmg.com/cn/en/home/insights/2024/01/china-tax-alert-02.html">regulations</a> and property pricing halting the expected recovery after COVID-19 restrictions were lifted in 2023.&nbsp;



While these macroeconomic conditions create uncertainty and scare away many investors, they offer a unique opportunity to find Chinese stocks that are performing exceedingly well but still receive low valuations. These three stocks offer investors the perfect chance to capitalize on these low prices and enjoy the fruits of these successful companies&rsquo; labor.



Let&rsquo;s learn more about the exciting products and services, smart investments and diverse revenue streams that give these <a href="https://investorplace.com/stock-types/undervalued-stocks/">undervalued stocks</a> the best chance to weather the macroeconomic storm.



<h2>Tencent Holdings (TCEHY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/tcehy-stock-1-300x169.jpg" alt=""><div>Source: Shutterstock </div></div>Tencent Holdings (OTCMKTS:<a href="https://investorplace.com/stock-quotes/tcehy-stock-quote/">TCEHY</a>) is a Chinese tech company with diverse offerings and services. It operates in several different markets, including mobile gaming, music streaming, messaging and cloud-platform services.&nbsp;



Tencent generates a considerable portion of its revenue through its widely popular mobile games, such as PUBG Mobile and Honor of Kings. The number of Tencent mobile and PC games that surpassed the Chinese average <a href="https://static.www.tencent.com/uploads/2024/03/20/fe50310bf15caaab4b05dd9e8e49d316.pdf">daily user count</a> of 5 million for mobile and 2 million for PC increased to 8 games in 2023 from 6 in 2022.



Tencent&rsquo;s gaming segment is estimated to account for a little less than half of the company&rsquo;s <a href="https://static.www.tencent.com/uploads/2024/03/20/fe50310bf15caaab4b05dd9e8e49d316.pdf">revenue</a>, which reached $86.0 billion in 2023. However, the company also has a wildly successful messaging platform, WeChat, with over <a href="https://www.statista.com/statistics/255778/number-of-active-wechat-messenger-accounts/#:~:text=The%20number%20of%20Tencent's%20WeChat,1.3%20billion%20monthly%20active%20users.&amp;text=First%20released%20in%202011%2C%20WeChat,by%20the%20Chinese%20company%20Tencent.">1.3 billion</a> monthly active users.



Tencent plans to monetize further and improve profits from WeChat by focusing on advertising for many other services. Tencent has gaming and advertising to continue to drive profits but also has a foothold in <a href="https://www.tencentcloud.com/">cloud services</a> and business software, giving it much-needed diversity to survive and grow long-term.



Overall, the company&rsquo;s excellent prospects and $41.4 billion <a href="https://static.www.tencent.com/uploads/2024/03/20/fe50310bf15caaab4b05dd9e8e49d316.pdf">gross profit</a> for 2023 make its 16.71 P/E ratio too good to be true. Investors should look no further for an undervalued Chinese stock to buy this month.



<h2>Baidu (BIDU)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/bidu1600-2-1-300x169.png" alt="Laptop computer displaying logo of Baidu (BIDU), a Chinese multinational technology company specializing in Internet-related services and products"><div>Source: monticello / Shutterstock.com</div></div>Baidu (NASDAQ:<a href="https://investorplace.com/stock-quotes/bidu-stock-quote/">BIDU</a>) is another promising Chinese tech company with an established reputation. It is one of China&rsquo;s most popular search engines and has an exciting cloud platform, giving it great potential to perform. Baidu has also expanded its investment base, starting a $145 million venture <a href="https://www.reuters.com/technology/chinas-baidu-launches-145-million-venture-capital-ai-fund-2023-05-31/">capital fund</a> for generative AI start-ups last year.



While some investors are hesitant due to Baidu&rsquo;s close relationship with the Chinese government, there is less reason to fear the risk of delisting when the stock is valued relatively low. Baidu trades at a P/E ratio of <a href="https://companiesmarketcap.com/baidu/pe-ratio/#:~:text=P%2FE%20ratio%20as%20of,P%2FE%20ratio%20of%2039.1.">18.3</a>, and while it had a modest 9% year-over-year revenue growth in 2023, the company has a fantastic potential upside.&nbsp;



Recently, Baidu&rsquo;s AI chatbot tool <a href="https://www.reuters.com/technology/baidu-says-ai-chatbot-ernie-bot-has-amassed-200-million-users-2024-04-16/">&ldquo;Ernie&rdquo;</a> was reported to have reached over 200 million users and is frequently compared to ChatGPT. The potential that such a popular and advanced tech tool brings to Baidu&rsquo;s future is undeniable.



While Baidu&rsquo;s appeal to American investors carries some risk, if you can stomach it, it is one of the best buys in Chinese stocks. Its potential to continue to grow as a search engine giant, along with several other revenue streams trading at a low valuation, is undeniable.&nbsp;



<h2>Alibaba Group Holdings (BABA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/alibaba_stock-300x169.jpg" alt="The Alibaba (BABA) logo featured outside of an office building with bushes in the background"><div>Source: zhu difeng / Shutterstock.com</div></div>Alibaba Group Holdings (NYSE:<a href="https://investorplace.com/stock-quotes/baba-stock-quote/">BABA</a>) is another tech company with a wide range of services and platforms and phenomenal growth potential. Alibaba is not only <a href="https://ecommercedb.com/insights/the-world-s-most-valuable-ecommerce-companies/3946">one of the largest</a> e-commerce platforms in the world but also provides media, entertainment, and cloud platform services.



In Alibaba&rsquo;s <a href="https://data.alibabagroup.com/ecms-files/1479231421/0e7716ac-637e-4148-8fa1-5d10ce7b5b61/FISCAL%20YEAR%202024%20INTERIM%20REPORT.pdf">most recent earnings</a>, the company reported $62,904 million in revenue for fiscal 2024, an 11% year-over-year increase. Free cash flow reached $11,556 million, representing an increase of 46% year-over-year.&nbsp;



The stock is performing exceedingly well, considering its P/E ratio of 17.3. It is, without a doubt, undervalued from a purely financial perspective. Alibaba also has a history of making intelligent investments to secure its future, investing <a href="https://www.alibabacloud.com/blog/alibaba-cloud-unveils-strategic-roadmap-for-international-business_599361#:~:text=With%20its%20revamped%20ecosystem%20strategy,the%20coming%20three%20fiscal%20years.">$1 billion</a> in its partners to support the ecosystem of its up-and-coming cloud platform.&nbsp;



Future growth is almost inevitable, and the Chinese government and economy are factors to consider, but this should not make you count this excellent tech stock out for good.



On the date of publication, Joel Lim did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Joel Lim is a finance freelance writer who writes content for several companies like LTSE and Realtor, along with financial publications, including Mises Institute and Foundation for Economic Education.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/the-3-most-undervalued-chinese-stocks-to-buy-in-may-2024/">The 3 Most Undervalued Chinese Stocks to Buy in May 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Most Undervalued Chinese Stocks to Buy in May 2024

Tesla in China: Elon Musk eyes robotaxi testing; top exec returns to lead local business

International Wide-Moat Stocks On Sale - The May 2024 Heat Map

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
When Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) announced its August 8 robotaxi event, enthusiasm for autonomous driving got a shot in the arm. Indeed, Tesla stock also received a much-needed jolt as it looked to reverse gears after a nasty drawdown.



Earlier this year, excitement and hope in full-self-driving (FSD) technology and the concept of robotaxis faded a bit. Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) reportedly pulled the plug on its Apple Car (or Project Titan) program. However, Tesla&rsquo;s August 8 event may very well bring to hype back. In any case, it will be very interesting to see if what Tesla unveils will help propel the robotaxi and autonomous driving trends back into the driver&rsquo;s seat again.



Only time will tell what the big day will have in store for TSLA stock and self-driving plays as a whole. Regardless, I believe they&rsquo;re worth watching (and perhaps buying) as they drive into August.



<h2>Tesla (TSLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/tsla1600-12-300x169.png" alt="Tesla (TSLA) sign on the building on car sales"><div>Source: Vitaliy Karimov / Shutterstock.com</div></div>It&rsquo;s been an awful year for Tesla so far, with shares down 30% year-to-date. For now, not everybody is euphoric about Tesla. It has grappled with rough industry headwinds. Furthermore, considerable negative momentum weighing down its stock.



For the first quarter of 2024, <a href="https://www.wsj.com/business/autos/teslas-first-quarter-vehicle-sales-fell-as-ev-market-cools-45bad95f">deliveries were down 8.5%</a> as electric vehicle (EV) demand took a breather. There doesn&rsquo;t appear to be any signs of a swift reversal ahead for Tesla or the EV industry. However, investors could begin to be more forgiving of further weak quarterly results. They may hope that August 8 will unleash something truly game-changing for the robotaxi industry.



Also, the Robotaxi event will lay out a roadmap, perhaps a multi-year one, for the gradual release of its robotaxi. And, the degree of autonomy seems unlikely to be here yet. If Musk delivers more clarity and specifics on Tesla&rsquo;s longer-term robotaxi plans, the firm may beckon longer-term investors to scoop up TSLA stock on weakness.



<h2>Baidu (BIDU)</h2>



<a href="https://investorplace.com/wp-content/uploads/2023/02/bidu1600-2.png"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/bidu1600-2-300x169.png" alt='An image of a laptop on a table with the screen showing the red and blue logo for Chinese Internet company "Baidu", with the background being blurred.'></a>Baidu (NASDAQ:<a href="https://investorplace.com/stock-quotes/bidu-stock-quote/">BIDU</a>) is a Chinese internet juggernaut that has not been going anywhere fast. The stock is still down over 67% from its February 2021 peak. And, seems to be sinking again after a brief rebound in the back half of 2022.



With its latest agreement to <a href="https://www.reuters.com/technology/baidu-tesla-agree-mapping-deal-fsd-china-sources-say-2024-04-29/">provide mapping data to Tesla</a> to help aid its FSD tech in China, BIDU is a must-watch stock. In fact, the deal stands out as a potentially huge win for both companies as they seek to collaborate. Many may underestimate the potential for a Tesla-Baidu partnership.



Tesla aside, Baidu has been working on its own autonomous driving tech for many years. Leveraging its AI expertise with its Apollo self-driving program, Baidu is a standout way to play the future of the robotaxi and FSD scene.



At 14.3 times trailing price-to-earnings (P/E), Baidu stands out as a potentially glorious bargain for investors willing to venture into the hard-hit Chinese market. The company is innovating on many fronts, from generative AI to self-driving.



<h2>Alphabet (GOOG, GOOGL)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/03/alphabet_googl.png"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/alphabet_googl-300x169.png" alt="Alphabet (GOOGL) - Quantum Computing Stocks to Buy"></a>Robotaxi and FSD projects represent just a small piece of the pie for Alphabet (NASDAQ:<a href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>). It seeks to defend its Google search platform from potential AI disruptors while also betting big on AI itself. With its large language model (LLM) of Google Gemini and its stake in private AI firm Anthropic, Alphabet is a top-two AI stock to own for the long run.



Self-driving capabilities and AI go hand-in-hand. Its Waymo division is testing the roads (without a driver) in certain areas. So, it certainly seems like the emerging robotaxi market is Alphabet&rsquo;s for the taking. And yet, Waymo isn&rsquo;t quite perfect yet. A notable February <a href="https://www.reuters.com/world/us/driverless-waymo-car-hits-cyclist-san-francisco-causes-minor-scratches-2024-02-07/">accident</a> could set a nationwide rollout back by quite a bit. In any case, I do not doubt Waymo will improve by leaps and bounds over time. 



As a top rival of Tesla&rsquo;s robotaxi, it will be interesting to see if Alphabet has anything in store for Waymo.



On the date of publication, Joey Frenette owned shares of Alphabet (Class C) and Apple. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://protect-us.mimecast.com/s/YUYqC31vVVI7KAkriDfKi6?domain=investorplace.com/">Publishing Guidelines</a>.
<div>Joey Frenette is a seasoned investment writer specializing in technology and consumer stocks. Contributing to the Motley Fool Canada, TipRanks, and Barchart, Joey excels in spotting mispriced stocks with long-term growth potential in a fast-paced market.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/3-promising-robotaxi-stocks-to-snap-up-before-august-8/">3 Promising Robotaxi Stocks to Snap Up Before August 8</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Promising Robotaxi Stocks to Snap Up Before August 8

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
With the Federal Reserve gearing up for a potential rate-cutting cycle, the economy&nbsp;could see a dramatic transition in the coming months. While a market downturn remains&nbsp;a possibility, many of these beaten-down stocks are unlikely to plummet further from their current depressed levels. These once-in-a-decade stocks seem primed for a swift rebound once rates come down and normalcy returns.



Patience is a virtue in the stock market, and well-established companies rarely disappoint in the long run.&nbsp;I believe&nbsp;the current market turbulence presents an ideal moment to pounce on these once-in-a-decade stocks. After all, the time to be greedy is when others are fearful.



<h2>Baidu (BIDU)</h2>



<a href="https://investorplace.com/wp-content/uploads/2023/02/bidu1600-2.png"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/bidu1600-2-300x169.png" alt='An image of a laptop on a table with the screen showing the red and blue logo for Chinese Internet company "Baidu", with the background being blurred.'></a>Baidu&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/bidu-stock-quote/" target="_blank">BIDU</a>) is known as the Google of China, and for good reason. The company has amassed a massive captive user base on which it can capitalize. Boasting an impressive <a href="https://gs.statcounter.com/search-engine-market-share/all/china">60% market share</a> across all platforms in China and an even more dominant 76% share in the mobile user segment, Baidu&rsquo;s reach is undeniable. Moreover, it is one of the few companies with a working maps feature in China, as foreign tech giants like Google&nbsp;don&rsquo;t have&nbsp;access to the country&rsquo;s unique map offset algorithm.



However, my bullish stance on Baidu stock extends far beyond these competitive advantages. With most Chinese tech companies going for a fire sale, there is a compelling opportunity to scoop up potential comeback stocks at bargain prices. Baidu is a powerhouse in cutting-edge technologies. The company&rsquo;s AI chatbot, Ernie, already has a staggering <a href="https://www.cnbc.com/2024/04/16/baidu-says-its-chatgpt-like-ernie-bot-exceeds-200-million-users.html">200 million users</a>, while Baidu Wangpan, its cloud service offering, mirrors Google&rsquo;s offerings.



While Baidu&rsquo;s growth may not be impressive in the short term due to challenges in China&rsquo;s economy, I do not perceive any long-term weaknesses.&nbsp;&nbsp;Analysts <a href="https://seekingalpha.com/symbol/BIDU/earnings/estimates">anticipate Baidu&rsquo;s growth to accelerate in the years ahead</a>, with revenue projected to grow 8% in 2025, 6% in 2026, 15% in 2027, 12% in 2028, and a stellar 42% in 2029. The consensus EPS is forecasted to rise from $11 in 2025 to $25 in 2029. For a tech stock of this caliber, you&rsquo;re paying just 11 times earnings and two times sales.



<div><a href="https://investorplace.com/wp-content/uploads/2024/05/chart-1-3.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/05/chart-1-3.png" alt="BIDU EPS"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>That to me looks like one of the best once-in-a-decade stocks to buy.



<h2>Newell Brands (NWL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/newell_nwl_1600-300x169.jpg" alt="A photo of a sign showing the Newell Brands (NWL) logo outside a building."><div>Source: JHVEPhoto/Shutterstock.com</div></div>Newell Brands&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/nwl-stock-quote/" target="_blank">NWL</a>) is not a tech stock like BIDU.&nbsp;Most investors would be bearish on the stock&nbsp;right&nbsp;now due to its disastrous price performance. However, this is precisely what makes it a contender as one of the comeback stocks. NWL stock is up just around 35% from its Great Recession trough levels and is down far below its COVID trough. This is due&nbsp;to the company&rsquo;s lack of cash flow and high debt levels.



Interestingly, the high debt burden is&nbsp;actually&nbsp;the root cause of the lack of cash flow. To put it in perspective, Newell Brands <a href="https://seekingalpha.com/symbol/NWL/cash-flow-statement">paid $298 million in cash interest expenses</a>,&nbsp;which was&nbsp;a significant portion of the company&rsquo;s $930 million operating cash flow for all of 2023. Why am I bullish on this? Rate cuts. Once interest rate cuts kick in full swing, we should see the cash flow&nbsp;turn positive very quickly&nbsp;and then expand. Analysts <a href="https://seekingalpha.com/symbol/NWL/earnings/estimates">expect EPS to jump from 60 cents in 2024 to $1.1 in 2028</a>. I believe that Newell Brands can beat these estimates and make a swift comeback from these levels.



Moreover,&nbsp;I think&nbsp;that&nbsp;selling&nbsp;at these levels does not make sense, even for bears.&nbsp;Most of the bearishness&nbsp;is already priced&nbsp;in, so there is a good chance the stock will bounce higher from here.



<h2>Warner Bros. Discovery (WBD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/wbd_warner_bros_discovery1600-300x169.png" alt="The logo of the new Warner Bros Discovery (WBD) company on smartphone screen."><div>Source: Jimmy Tudeschi / Shutterstock.com</div></div>Unlike Newell Brands, the situation with&nbsp;Warner Bros Discovery&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/wbd-stock-quote/">WBD</a>)&nbsp;is&nbsp;not so clear-cut.&nbsp;Some companies in the market have become&nbsp;quite&nbsp;politicized in recent years, which can take a toll on the stock regardless of which side you&rsquo;re on. It&rsquo;s not just a matter of &ldquo;go woke, go broke,&rdquo; as even Tesla, often perceived as leaning more toward the right, has been struggling.&nbsp;Any&nbsp;sort of&nbsp;politicization of a company has very negative consequences.&nbsp;I believe&nbsp;Wall Street would pay a higher premium if buying these stocks wasn&rsquo;t&nbsp;seen as&nbsp;a statement.



Regardless, I see&nbsp;very good&nbsp;long-term returns from the current price.&nbsp;Warner Bros&rsquo; problems are&nbsp;not long-term. Moreover, politicization&nbsp;wouldn&rsquo;t&nbsp;stop the market from closing a big enough gap between a stock&rsquo;s price and its fundamentals.&nbsp;While Warner Bros&nbsp;is unlikely&nbsp;to have meaningful top-line growth,&nbsp;even with the company paying down debt,&nbsp;we&rsquo;re looking at a massive earnings expansion.&nbsp;<a href="http://seekingalpha.com/symbol/WBD/earnings/estimates">EPS&nbsp;is expected&nbsp;to be 86 cents in 2028</a> from negative 27 cents in 2024.



Moreover, Max has&nbsp;a lot of&nbsp;potential in the streaming space and could become one of the top three platforms. Warner Bros had around $2.2 billion in interest expenses last year and net interest income in Q4 alone was -$451 million, so I expect a comeback once rate cuts start.



<div><a href="https://investorplace.com/wp-content/uploads/2024/05/chart-2-3.png"><img width="1226" height="796" src="https://investorplace.com/wp-content/uploads/2024/05/chart-2-3.png" alt="WBD money"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>The company has a plan to pay off its $47.3 billion debt, and&nbsp;I think&nbsp;it will be successful. It had an EBITDA (earnings before interest, taxes, depreciation, and amortization) of $7.4 billion last year. It&rsquo;s another one of the top once-in-a-decade stocks to buy.



<h2>Intel (INTC)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/03/intc.png"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/intc-300x169.png" alt="Intel (INTC) - Quantum Computing Stocks to Buy"></a>Intel&rsquo;s&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/intc-stock-quote/">INTC</a>) rebound has&nbsp;been undone&nbsp;in days, and it will likely take months to recoup the damage. The company&rsquo;s Q1 earnings beat expectations with <a href="https://www.investopedia.com/intel-q1-2024-earnings-8639245">$12.7 billion in revenue</a> but&nbsp;still&nbsp;fell short of revenue guidance. The stock is now 37.6% down year-to-date, and looking at the trends makes one feel like they&rsquo;re back in 2022 again!&nbsp;However,&nbsp;I believe&nbsp;this presents a great buying opportunity since Intel is trading near valuations we&rsquo;ve seen nearly two years back but with much better fundamentals.



Intel has kickstarted growth again, and it has been narrowing its losses quite fast. The company&rsquo;s financials&nbsp;will likely reach an inflection point this year. It could then head higher in the coming years with double-digit growth. Intel&rsquo;s <a href="https://seekingalpha.com/symbol/INTC/earnings/estimates">EPS&nbsp;is expected&nbsp;to grow almost 5X in the next four years</a>, along with low double-digit top-line growth on average. You&rsquo;re paying just 15 times the 2025 estimated EPS for a company that has been acquiring many other high-growth tech names and&nbsp;has been&nbsp;aggressively competing with bigger peers.



<div><a href="https://investorplace.com/wp-content/uploads/2024/05/chart-3-2.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/05/chart-3-2.png" alt="INTC estimates"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>While I don&rsquo;t expect Intel to dethrone&nbsp;AMD&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/amd-stock-quote/">AMD</a>) or&nbsp;Nvidia&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) anytime soon, this unfair comparison has caused the market to become too bearish on Intel.&nbsp;In my view, the&nbsp;current selling frenzy has created a compelling entry point for long-term investors.



<h2>PayPal (PYPL)</h2>



<a href="https://investorplace.com/wp-content/uploads/2021/03/pypl-bitcoin-2.jpg"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/pypl-bitcoin-2-300x169.jpg" alt="Paypal logo next to Bitcoin logo"></a>Speaking of once-in-a-decade stocks,&nbsp;PayPal&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pypl-stock-quote/">PYPL</a>) is one of the top candidates. This company has been doing almost everything&nbsp;in its power&nbsp;to be loved by Mr. Market again. Sadly, nothing has worked so far. PayPal has continued to trade essentially sideways since the selloffs&nbsp;and&nbsp;is trading 48% lower than its pre-pandemic prices. That is despite its top and bottom line being much better than before, with growth numbers staying robust.



This&nbsp;has happened because PayPal has had a user accounts growth figure in the negatives for the past few quarters.&nbsp;However,&nbsp;too much&nbsp;weight&nbsp;is&nbsp;being&nbsp;put&nbsp;on this one metric.&nbsp;If you look at the broader picture, PayPal has continued to squeeze&nbsp;out more and&nbsp;more revenue from its existing &ldquo;power&rdquo; users. Analysts expect this growth to continue many years into the future.



<div><a href="https://investorplace.com/wp-content/uploads/2024/05/chart-4-2.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/05/chart-4-2.png" alt="PYPL EPS estimates"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>In fact,&nbsp;active <a href="https://seekingalpha.com/article/4687537-paypal-holdings-pypl-q1-2024-earnings-call-transcript">user growth has finally inflected on a quarterly basis</a>. In Q1, active users grew by 2 million, and it could be a sign of more to come.



<h2>Starbucks (SBUX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/sbux1600b-300x169.jpg" alt="Learnin' From Luckin, Starbucks Stock Heats Up a Strategy"><div>Source: monticello / Shutterstock.com</div></div>Starbucks&rsquo;&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/sbux-stock-quote/">SBUX</a>) plunge is relatively&nbsp;small&nbsp;compared to many of the stocks in this list, but&nbsp;I think&nbsp;it is one of the once-in-a-decade buying opportunities.&nbsp;The coffee chain failed to meet expectations, with same-store <a href="https://www.japantimes.co.jp/business/2024/05/01/companies/starbucks-sales-drop-global-pullback/">sales falling for the first time since 2020</a>.



CEO Laxman Narasimhan attributed the poor quarterly performance to customers being more cautious about their spending due to inflation. He also noted that the recent quarterly results did not reflect the&nbsp;potential of the brand.&nbsp;Long wait times and product availability also&nbsp;seem to&nbsp;be&nbsp;putting&nbsp;customers off, with over 60% of the company&rsquo;s morning trade coming from reward members who use the Starbucks app.



To put the miss in perspective, EPS missed estimates&nbsp;by 15.2%,&nbsp;and&nbsp;revenue missed by a staggering 6.5%, with revenue declining by 1.8% YOY. Despite these misses, I&rsquo;m still confident Starbucks can bounce back. Rate cuts could take&nbsp;a lot&nbsp;of the pressure off earnings in the coming quarters. Plus, <a href="https://seekingalpha.com/symbol/SBUX/earnings/estimates">EPS growth of around 15% annually is expected</a> starting next year.&nbsp;In my view, a&nbsp;lot of the bearishness is&nbsp;priced in right now, and I do not think this is a long-term laggard.



<h2>Alibaba (BABA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/alibaba-stock-300x169.jpg" alt="baba value stocks"><div>Source: BigTunaOnline / Shutterstock.com</div></div>This stock is&nbsp;definitely&nbsp;a long-term laggard. Most Chinese stocks are at a huge discount right now, including&nbsp;Alibaba&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/baba-stock-quote/">BABA</a>). However, the Chinese market has finally started to recover meaningfully, and these tailwinds will likely lift China&rsquo;s tech sector&nbsp;up&nbsp;as well.



The growth ahead isn&rsquo;t stellar, but Alibaba could outperform once China&rsquo;s economy restarts growth with fresh stimulus and rate cuts from the CCP. Moreover, analysts remain optimistic about Alibaba&rsquo;s stock. J.P. Morgan <a href="https://www.sahmcapital.com/news/content/jp-morgan-maintains-overweight-on-alibaba-gr-holding-lowers-price-target-to-105-2024-02-09">set a price target of $105</a>.&nbsp;I believe current&nbsp;prices would&nbsp;be nothing short of a bargain ten years from now. Definitely one of the best once-in-a-decade buying opportunities.



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/7-once-in-a-decade-buying-opportunities-to-seize-now/">7 Once-in-a-Decade Buying Opportunities to Seize Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Once-in-a-Decade Buying Opportunities to Seize Now

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The last couple of years were forgettable for Chinese stocks to buy, but its prospects are now rising. Investment banks are bullish on the potential of Chinese stocks to outperform on the back of multiple tailwinds. Year-to-date (YTD) gains in the&nbsp;iShares MSCI China ETF&nbsp;are ticking higher than the broader market, a trend that&rsquo;s likely to continue for a while.



In 2022 and 2023, Chinese stocks&nbsp;were&nbsp;pummeled&nbsp;by regulatory crackdowns across various sectors. Fears over government intervention and the escalating tensions between the U.S. and China caused investing sentiment in Chinese equities to reach multi-year lows.



However, the situation is&nbsp;completely&nbsp;different in 2024, with analysts pointing to a strong rally in Chinese stocks. According to&nbsp;Goldman Sachs analysts,&nbsp;<a href="https://www.scmp.com/business/banking-finance/article/3261465/goldman-sachs-ubs-bnp-more-positive-chinese-stocks-chorus-favourable-sentiment-grows-run-july-plenum" target="_blank">a potential 40% increase in Chinese A-share valuations</a>&nbsp;is possible. Similarly, UBS upgraded its outlook on the MSCI China Index (NASDAQ:<a href="https://investorplace.com/stock-quotes/mchi-stock-quote/">MCHI</a>) and Hong Kong stocks to overweight. Hence, with a more robust risk appetite and a more conducive investing climate, here are three Chinese stocks to wager on now.



<h2>Alibaba (BABA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/baba1600-300x169.jpg" alt="Alibaba Group headquarters sign located in Hangzhou China BABA stock."><div>Source: Kevin Chen Photography / Shutterstock.com</div></div>Chinese tech giant&nbsp;Alibaba&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/baba-stock-quote/">BABA</a>) has&nbsp;been a&nbsp;difficult&nbsp;stock to back in recent years. Its stock has nosedived over the past three years,<a target="_blank" href="https://seekingalpha.com/symbol/BABA/momentum/performance">&nbsp;shedding 65%&nbsp;</a>due to regulatory roadblocks in China and broader economic uncertainties. Consequently, BABA stock is now an eye-watering 74% below its all-time high price of $317.14. However, with the tailwinds in the Chinese economy and BABA&rsquo;s strategic initiatives to boost growth, BABA stock presents itself as an excellent value play.



BABA faces stiff competition in&nbsp;its domestic eCommerce market yet remains highly lucrative. According to Statista, the Chinese eCommerce market&nbsp;is expected&nbsp;to grow by 10% through 2029. Moreover, BABA has effectively diversified its eCommerce business to target the international market. In its most recent quarterly results, its consolidated&nbsp;<a target="_blank" href="https://www.digitalcommerce360.com/article/alibaba-revenue/#:~:text=But%20Alibaba's%20sharpest%20ecommerce%20revenue,of%2044%25%20to%20%244.02%20billion.">international growth jumped 44%</a>&nbsp;to $4.02 billion.



Alibaba&rsquo;s proactive approach to the cloud computing&nbsp;market is another linchpin for&nbsp;its long-term success. Estimates indicate that China&rsquo;s public cloud market will double to $137.1 billion by 2028 from $69 billion in 2024. The advent of AI&nbsp;is set&nbsp;to revolutionize the cloud market, and Alibaba is seizing this opportunity.&nbsp;It recently implemented a significant price reduction for more than 100 core public cloud products, a move aimed at fueling&nbsp;AI growth in China.



<h2>BYD (BYDDF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/byd-stock-red-car-1600-300x169.jpg" alt="Close-up of BYD (BYDDY) logo on red car, symbolizing BYDDY stock"><div>Source: shutterstock.com/Trygve Finkelsen</div></div>BYD&nbsp;(OTCMKTS:<a target="_blank" href="https://investorplace.com/stock-quotes/byddf-stock-quote/">BYDDF</a>) is a Chinese EV giant that stands head-and-shoulders above its competition. It&rsquo;s been hot on the heels of EV pioneer Tesla, eventually surpassing it in vehicle deliveries last year. Moreover, despite the downturn in the EV space, its recent performances have solidified its leadership position in the niche.



BYD has triumphed in the intense price war within the EV market over the past few years.&nbsp;This&nbsp;is&nbsp;largely due&nbsp;to its unique battery technology, comprehensive production approach, and the benefits of its massive operational scale. In a recent press release, the EV juggernaut said it delivered&nbsp;<a target="_blank" href="https://seekingalpha.com/news/4097345-byd-reports-vehicle-sales-of-936k-ytd">a whopping&nbsp;936,446 total passenger vehicles</a>&nbsp;YTD. EV sales made up roughly 18%,&nbsp;a figure that&nbsp;continues to rise in contrast to the predominantly higher plug-in hybrid sales.



Furthermore, BYD&nbsp;<a target="_blank" href="https://www.reuters.com/business/autos-transportation/chinas-byd-names-electric-pickup-truck-byd-shark-2024-04-22/#:~:text=SHANGHAI%2C%20April%2022%20(Reuters),improving%20off%2Droad%20driving%20experiences.">announced its latest pickup truck</a>&nbsp;last month, the &ldquo;Shark.&rdquo; It&rsquo;s a direct competitor to Tesla&rsquo;s Cybertruck, with many showing a preference for the Shark. Also, BYD has been making inroads in autonomous vehicle technology, having launched an AI-powered solution&nbsp;to conditionally automate driving. It seems like BYD is telling Tesla, &ldquo;Anything you can do, I can do better.&rdquo;



<h2>Baidu (BIDU)</h2>



<a href="https://investorplace.com/wp-content/uploads/2023/02/bidu1600-2.png"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/bidu1600-2-300x169.png" alt='An image of a laptop on a table with the screen showing the red and blue logo for Chinese Internet company "Baidu", with the background being blurred.'></a>AI took the stock market to breathtaking heights last year. However, with investors pricing in several years of growth, they&rsquo;re now looking for tangible results. Companies making headway in developing and monetizing AI will likely emerge as long-term winners. In that context,&nbsp;Baidu&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/bidu-stock-quote/">BIDU</a>)&nbsp; seems to be the most compelling AI story&nbsp;at this point.



Its 2024 Baidu AI Developer Conference unveiled numerous developments and updates, further establishing its dominance in the AI sector. The most obvious one was that its AI chat tool in Ernie Bot&nbsp;<a target="_blank" href="https://seekingalpha.com/news/4089896-baidus-ai-tool-ernie-bot-surpasses-200m-users">now has more than 200 million users</a>. Moreover, over 80,000 clients used Qianfan, its foundation cloud-powered model platform, to develop 190,000 AI applications.



Furthermore, it launched a suite of zero/low-code development tools to enable users to develop AI agents, apps, and models through natural language.&nbsp; Also, it released five new iterations of the Ernie Chatbot to quicken response times while lowering inferencing costs effectively. These powerful developments are essentially part of Baidu&rsquo;s strategy to make AI technology more accessible by effectively reducing costs while boosting computational efficiency.



On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor&rsquo;s of science degree in applied accounting from Oxford Brookes University.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/the-3-best-chinese-stocks-to-buy-in-may-2024/">The 3 Best Chinese Stocks to Buy in May 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Best Chinese Stocks to Buy in May 2024

Catalyst Watch: Retail heavyweights Walmart and Home Depot report, OpenAI vs. Google, and EV tariff drama

American stocks had a great performance this week as the first-quarter earnings season came to a close. The Dow Jones indicator has risen for three straight weeks and is nearing its all-time high of $40,000.