BIDU - Baidu: Get Iqiyi And Ctrip For Free
Introduction
Baidu (BIDU) has the 2nd largest search engine in the world and the largest search engine in China. In December 2018 Baidu had a market share of 70% of the Chinese Internet Search according to Statcounter. Shenma has a market share of 15%, Sogou of 5% and Haosou of 4%. Google and Bing have both market shares of only 2%. The stock price of Baidu has dropped from $270 in June 2018 to $169 on January 31, 2019. Is this drop justified based on fundamentals?
An Internet search engine business has a