No one in his right mind would be happy about the slide in Google’s (NASD: GOOG) shares this year. They are now off 27% on an earnings report that Wall St. did not like and concerns a slowing economy might turn down the burner on its hyper-growth.
One company which is actually worse off is China search engine leader Baidu (NASD: BIDU). It shares have collapsed 40% since the first day of trading in 2008.
Baidu suffers from the same concerns that Google does, plus one more. Wall St. is still convinced that Google will do whatever is necessary to get the market share lead in search in China. The country now has the second largest number of people online of any country in the world, and is expected to pass the US soon.
If data show that Baidu is losing search share, its shares will go much lower.
Douglas A. McIntyre
nbo
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