Chinese tech company Baidu garnered interest among investors following a 28% year-to-date drop in its share price.
Chinese tech company Baidu garnered interest among investors following a 28% year-to-date drop in its share price — but one market watcher is unimpressed. "I think you might have a short-term rally. But that's not really about Baidu — it's about, sort of, the broad based rally and Baidu being a technology stock naturally more volatile," Jason Hsu, founder and chief investment officer of Rayliant Global Advisors, told CNBC's Pro Talks last week.
mountain Year-to-date shares in Baidu Among the reasons for Hsu's skepticism, is that Baidu as an internet search engine "is a one trick pony." It "doesn't have the diversified appeal of Google which is why the two command such different price-to-earnings ratios," he explained. Baidu is trading at 8.2 times forward price-to-earnings while that for Alphabet is 21.2 times.
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