|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||222.50 - 231.46|
|52 Week Range||173.52 - 274.97|
|PE Ratio (TTM)||27.83|
|Earnings Date||Apr 26, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||270.11|
Apple CEO Tim Cook will meet with President Trump today at the White House. Yahoo Finance’s Alexis Christoforous, Dion Rabouin, and Ethan Wolff-Mann discuss.
Led by Amazon, technology giants are teeing up to report earnings as well as iQiyi, the tech IPO called the Netflix of China.
The company reported a 20% increase in net revenue to RMB 84.8 billion ($13 billion) through 2017. Strong revenue growth was complemented by a massive 55% increase in the company’s operating income to RMB 15.7 billion ($2.4 billion). Correspondingly, Baidu’s net income was up 57% to RMB 18.3 billion ($2.8 billion) while earnings per ADS were up 65% y-o-y to RMB 52.41 ($8.06).
Alphabet’s (GOOG) total costs and expenses increased 32.8% YoY (year-over-year) in 1Q18. Rising expenses in the quarter were driven by higher traffic acquisition costs (or TAC). Alphabet’s TAC rose 35.8% in 1Q18, much higher than Alphabet’s revenue growth of 26% YoY.
Stocks closed lower on Tuesday on the back of fresh worries about rising government bond yields, along with a potentially troublesome message from economic bellwether Caterpillar (CAT). Therefore, investors need to be even more cautious about stocks that look poised to fall short of quarterly earnings estimates as Q1 earnings season heats up.
This time last year -- heading into March quarter earnings season -- Baidu Inc. was the dunce of the China internet party and its three closest competitors were clear winners. Shares of Alibaba Group Holding Ltd. and Tencent Holdings Ltd. were both up more than 25 percent for the year to date and JD.com Inc. was the belle of the ball with a gain of almost 34 percent.Baidu was the token guest with an advance of just 7 percent. Baidu’s turnaround story continues, but investors are yet to be convinced.
In the stock market, sometimes the best trades are those that fit in with a secular growth story. One of the hottest secular growth stories over the past several years has been the boom in China consumerism, led by massive urbanization and digitization movements sweeping across China’s middle class.