On July 17, Baidu fell 5.03% in regular trading, trading at $107.12/share, with turnover of $65.36 million. The decline was driven by JP Morgan cutting Baidu's target price from $230 to $205, compounded by a broad selloff across the technology sector.

JP Morgan's downgrade directly weighed on market expectations for Baidu's valuation outlook. This follows Morgan Stanley's earlier cut of Baidu's target price from $140 to $130 with a neutral rating, alongside an 11%-12% reduction in operating profit forecasts for the company. Morgan Stanley projected Baidu's Q2 core advertising revenue at approximately RMB 13 billion, representing an 18.5% year-over-year decline, primarily due to a weak macro environment and AI transformation diverting traditional advertising traffic. Barclays also lowered its target from $128 to $124 while maintaining an equal-weight rating. Meanwhile, the Hong Kong tech sector saw significant weakness, with the Hang Seng Tech Index dropping 4.37%, dragging major tech constituents including Baidu lower.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)