王老师
回答题目：2621条
浣犳妸涓嬮潰鐨勪俊鎭?硡鍚堜竴涓嬪氨鍙?互浜?涓嬮潰鏄?笁绡囩浉鍏崇殑鏂囩珷.
1.According to Hitbox,Google's worldwide popularity peaked at 82.7% in December,2008.July 2009 rankings showed Google (78.4%) losing traffic to Baidu (8.87%),and Bing (3.17%).The market share of Yahoo!Search (7.16%) and AOL (0.6%) were also declining.
In the United States,Google held a 63.2% market share in May 2009,according to Nielsen NetRatings.In the People's Republic of China,Baidu held a 61.6% market share for web search in July 2009.
2.BAIDU.COM shares have soared this year,even as competition intensifies.But some analysts and investors still call the Chinese Web-search firm a 'buy' for those seeking a long-term play on the country's booming Internet.
Emerging in recent years as the country's leader in the field,Baidu.com is China's most-popular Web site,according to Alexa Internet,a company that measures Internet traffic.It has beaten big foreign rivals including Google and Yahoo despite their experience and global branding.Google and others have been pouring resources into China,which boasts the world's second-largest population of Internet users,with 162 million at the end of June.(The U.S.is top user.) China's search market,while still relatively small,is growing fast:Revenue for the sector totaled about $87 million,up more than a third from the first quarter,according to Analysys International,a Beijing-based technology-consulting company.
Baidu holds a 58% share of that revenue,Analysys says,but it is facing challenges on multiple fronts.Google,its chief competitor with 23% market share,has made some advances.Meanwhile,smaller niche players like those focused on real estate are gaining popularity,as are mobile Web-search companies.Yahoo recently launched an advertising-free search.Yahoo is run in China by Alibaba Group,of which Yahoo owns 40%.
Some analysts note that multinational companies have staged impressive comebacks in the past -- with Nokia and Motorola,for example,now leading the cellphone market after intense competition from local cellphone manufacturers several years ago.These analysts say something similar could take place in the Internet.
Others argue that Baidu's track record of fending off its larger competitors,and its still-strong growth prospects,are reason for optimism.'Since the very first day we made an investment in Baidu,everyone was saying,'Google's coming.' And Google has come,but [Baidu's] market share has increased,not decreased,' says Jim Oberweis,president of Oberweis Asset Management,a Chicago-based boutique-investment firm that has been buying Baidu shares since October 2005.'People don't understand how fast the market's growing' in China,he says.'That makes it a lot more of a reasonable value.'
Baidu's revenue in the most-recent quarter through June more than doubled to 401.3 million yuan ($53.1 million) from 191.6 million yuan in the year-earlier quarter.Its net profit also more than doubled,to 141.9 million yuan from 58.5 million yuan.
Baidu's American depositary shares,which trade on the Nasdaq Stock Market,have soared this year to an intraday high of $219.25 late last month,nearly double their closing price of $112.69 at the end of last year.The share price has settled more recently,trading at 195.92 near midday yesterday in New York,but it is still up 74% for the year -- giving Baidu a market value near $6.5 billion.
The jump has made Baidu's stock expensive.It trades near 89 times its expected earnings this year,according to analysts' average estimates from Thomson Financial.By comparison,Google's shares were recently trading around 33 times expected 2007 earnings,while fellow Nasdaq-listed Chinese Internet companies Sina and Sohu.com were trading at P/E ratios of 41 and 48,respectively.
Richard Ji,executive director at Morgan Stanley in Hong Kong,argues for some caution on Baidu despite its strong position,rating its shares 'equal weight' in a late-July report.Mr.Ji cites 'counterstrikes' by Baidu's competitors,such as Google's partnerships with some of China's other big Internet companies.The U.S.company offers backup to Tencent Holding's smaller search engine,SoSo,while Sina links directly to Google from its search page.Google's user traffic was 6% of Baidu's in the second quarter of 2006 but grew to 25% in this year's second period,according to Morgan Stanley.
For now,Google's gains appear to be coming at the expense of smaller players in China,and some industry experts say it will be difficult to close the gap with Baidu.New Internet products are often relatively easy to replicate,which means Baidu can often neutralize any technological advantage of its bigger rivals by developing its search products almost as quickly as they do.That makes it different from the cellphone industry,where a splashy product can put a manufacturer in the lead for months or even years,analysts say.
Jason Brueschke,head of Asia media research at Citigroup Inc.,advises investors to buy Baidu stock despite Google's improving performance in China.'Everyone focuses on Google's technology prowess,' Mr.Brueschke says,but 'Baidu can be a fast follower in terms of products and technology.They don't have to lead.' Plus,he says,Baidu's strong user loyalty means 'Baidu owns the traffic.'
Mr.Brueschke currently has a buy rating on Baidu shares,and raised his target price on July 26 to $250 a share,from $218,because of its continued rapid growth.His target suggests upside of about 28%.
Beyond basic search,Baidu offers services including image and video searches -- plus searches for MP3 music files,which make up almost a third of its traffic.MP3 searches are popular,but because Baidu has sometimes linked to sites with pirated music,it has also been a source of criticism and legal trouble for the company.
Liu Bing,an analyst at Beijing-based China ComputerWorld Research,a technology-research company,says Baidu's rivals will 'need to find new opportunities' to take away market share from Baidu,such as advertising on mobile phones.Meanwhile,the growing competition 'won't threaten Baidu's status as the market leader in the short term.' A ComputerWorld survey conducted in Beijing,Shanghai and Guangzhou this year found that nearly 80% of respondents preferred Baidu as their search engine,followed by Google with 17%.
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As the global economy begins to stabilize,most anticipate an increase in advertising spending.With corporations committing more and more of their advertising budgets to the Internet,search engines such as Google,Yahoo,Baidu and Microsoft's Bing continue to develop new capabilities to gain market share.Analysis regarding the competitive search engine market is now available at www.bedfordreport.com.
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