Baidu: An Unloved AI-Related Name

News Snapshot:

V2images Baidu, Inc. (NASDAQ:BIDU) shares have generally underperformed global tech peers as investors shun Chinese names despite Baidu being well positioned in the AI space in China. We believe the stock is attractively valued, especially given the recent turmoil in the Chinese stock market as well as the overreaction to the headlines made by SCMP regarding Chinese military usage of its AI suite. The stock is still down mid-single digits YTD after rebounding in recent weeks while it fell 16% in the past year. 4Q23 earnings are expected to be released sometime in March, and we think the company will...