Baidu's Stock Is Down Nearly 30% in 2024. Is It a Value Play?

The Chinese tech giant still faces tough macro and competitive headwinds that will affect the investment thesis for the stock.Baidu (BIDU 0.61%) posted its second-quarter earnings report on Aug. 22. The Chinese tech giant's revenue stayed nearly flat at 33.93 billion yuan ($4.67 billion) and missed analysts' expectations by$70 million. Its adjusted earnings per American depositary share (ADS) dropped 7% to $2.89 but still exceeded the consensus forecast by$0.29.Baidu's stock price slipped after that mixed ...