Baidu Q3 Earnings: AI Revenue Remains Strong; 22% Below Its Book Value Is A Contrarian Buy (Upgrade)

Baidu's (NASDAQ: BIDU ) has erased all the gains from its 40% rally, which had been driven by the fiscal stimulus plans announced in late September. Following a disappointing Q3 FY2024 earnings report, the stock initially took a hit to a I'm specialized in fundamental equity research, global macro strategy, and top-down portfolio construction. I graduated from UCLA with a degree of Business Economics and UMich Ross School of Business with a Master of Accounting. I'm a senior analyst at a multi-strategy hedg ...