Top 5 Chinese Companies on NASDAQ

1. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 47

Baidu, Inc. (NASDAQ:BIDU) is a multinational technology corporation based in Beijing’s Haidian District. The company specializes in Internet-related services as well as artificial intelligence.

On May 31, Shyam Patil at Susquehanna maintained a Positive rating on Baidu, Inc. (NASDAQ:BIDU) stock with a price target of $200. The analyst stated that even though the company is facing near-term headwinds, its AI business is still strong. In Q1 2022, Baidu, Inc. (NASDAQ:BIDU) recorded an EPS Normalized Actual of $1.67, surpassing the analysts’ estimates by $0.83. Moreover, revenue was posted at $4.22 billion, beating the analysts’ estimates by $58.95 million.

Baidu, Inc. (NASDAQ:BIDU) was mentioned in the Q3 2021 investor letter of Harding Loevner. Here’s what the investment management firm said:

“In contrast, Baidu undertook and is now emerging from a much needed branching out from its original business of internet search, which has faced waves of regulatory threats and ferocious competition from other new online ad formats. Over the past several years it has invested heavily in the next longterm growth opportunities in Al, what it sees as its real core competency. After racking up over 12 million kilometers (7.5 million miles) of testing, Baidu’s autonomous driving system (ADS), Apollo, is now being deployed on certain less congested designated parts of the cities. In July, it introduced its robo-taxi services, Apollo Go, in Guangzhou (pop. 15 million), the fourth city where the service has launched, and it expects to roll out to 30 more cities over the next three years. Several Chinese carmakers such as Great Wall have announced plans to integrate Baidu’s system into their vehicles. Baidu’s Al initiatives should be viewed favorably by regulators because they align with overarching central government objectives around technology leadership and
reducing carbon emissions.

Baidu’s technological innovation in internet search, Al, and ADS are made possible by accelerating advancement in semiconductors, a trend of considerable significance to our portfolio. The broad adoption of the internet of things (loT) and fifth-generation (5G) mobile networks, the growing importance of Al and machine learning applications, and the mass uptake of electric vehicles (EVs)—all enabled by advanced semiconductors—are transforming a host of industries.”

Baidu, Inc. (NASDAQ:BIDU) was held by 47 hedge funds as of Q1 2022.

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