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Baidu (NASDAQ: BIDU ) gave investors a post-Christmas gift today, surging nearly 5%. The only real news surrounding the company in the past couple of days was the release of a Siri-like voice assistant. While this is a nice incremental improvement to Baidu's mobile offerings, the news doesn't explain its move today.
Instead, in the video below, senior technology analyst Eric Bleeker explains why today saw a broad movement in Chinese Internet stocks, with Qihoo, Sohu, and Sina also seeing gains throughout the day. Eric singles in on recent smartphone projections in China, and cites why smartphone growth could move from "challenge" to "opportunity" for some of China's larger Internet players next year.
Regardless of your short-term view on the Chinese economy, there may be opportunity in Baidu (aka the "Chinese Google"). Our brand new premium report breaks down the dominant Chinese search provider's strengths and weaknesses. Just click here to access it now.