Baidu Climbs on AI Hopes, but Another Tech Stock Is Tuesday's Big Winner
The summer can be a volatile period for the stock market. Many professionals take time off, and the lack of volume can lead to much wider swings both up and down when news hits. That has been the case throughout much of August, as stocks fell in the first part of the month but have seen some signs of strength so far this week. Markets moved higher early Tuesday morning, with the tech-heavy Nasdaq Composite leading the way higher.
One stock that helped give the Nasdaq a boost was Baidu (NASDAQ: BIDU), which released its quarterly financial report and gave an update on its artificial intelligence efforts. Yet another stock, Fabrinet (NYSE: FN), enjoyed much larger share price gains than Baidu. Here are the details you need to know about both tech stocks.
Shares of Baidu were up 4% early Tuesday morning. The Chinese internet search giant reported second-quarter financial results that gave the company a chance to highlight what it's doing on the AI front.
Source Fool.com
Baidu Inc. A ADR Stock
The stock is an absolute favorite of our community with 38 Buy predictions and no Sell predictions.
As a result the target price of 163 € shows a very positive potential of 96.62% compared to the current price of 82.9 € for Baidu Inc. A ADR.
