Ahead of Alibaba’s (BABA) strong quarterly results, the stock peaked at ~$120. It closed at $89.00 after strong results. Baidu (BIDU) mentioned artificial developments and rose, only to fall. iQiyi (IQ) traded close to a 52-week high after posting results.
Which has the best growth?
Any one of those firms could have the best growth. Alibaba’s e-commerce will recover in 2023 after China stopped its Covid lockdown. In the last quarter, Alibaba reported revenue of $35.92 billion, up by 2% Y/Y. CEO Daniel Zhang said that he expects a recovery in consumer sentiment and economic activity. Alibaba will focus on driving growth for its customers amid the competition.
Baidu posted flat revenue growth of $4.8 billion. It ended the year with $26.87 billion in cash and investments. That represents almost half of its market capitalization. The margin of safety is large for BIDU stock.
Baidu is developing self-driving and AI. It is the dominant search engine in China.
iQiyi is a Chinese online video platform. It reported average daily subscribers of 111.6 million.
Watch all three firms. In addition, watch out for conflicts and agreements between the U.S. and China. Increasing dialogue between the two firms matters more than the growth prospects of the three tech firms.
Related Stories
