Not only on PC platforms, but also on mobile devices

Shares in Nasdaq:bidu, Baidu, tumbled nearly 7% in Tuesday, largely as Credit Suisse analysts downgraded Baidu's stock rating. In addition, Baidu will release its third-quarter earnings on October 17.

Credit Suisse analyst Cheung released a study today that downgraded Baidu's stock rating from "neutral" (Neutral) to "weaker than the market" (underperform), with target prices down from $118 to $83. This is the second time the Baidu rating has been downgraded in a few weeks, after Jeffu Jefferies analyst Cynthia Meng (Cynthia Meng) downgraded Baidu's stock rating from "buy" to "hold" on October 1.

By the end of the day, Baidu's share price fell 7.81 U.S. dollars to $106.48, or 6.83%, to $105.94 in the Nasdaq conventional trading. In the past 52 weeks, Baidu has the highest price of 154.15 U.S. dollars, the lowest price of 99.71 U.S. dollars. Baidu's share price has fallen by about 20% per cent compared with the five-month high of $134.71 reached on August 17.

Baidu's share price has been under pressure for the past few weeks, mainly because its rival Qihoo 360 (Nyse:qihu) announced at the end of August that it will start using its own search engine, prompting fears that users will be less likely to use the Baidu search engine on the highly human-bearing Qihoo 360 browser. Like Google's profit model in the U.S. market, Baidu has also profited by selling search ads, benefiting from the tendency of most Chinese internet users to use their search services.

According to Analysys International published data, Baidu in the second quarter of China's search advertising revenue market share of 78.6%, the second-ranked Google accounted for only 15.7%. In 2011, Baidu's share of the Chinese search market was 73.5%, according to data released by comscore, a market-research firm.

In addition to the competition from Qihoo 360, Microsoft reported this week that its Bing search engine is also planning to enter the Chinese search market. "I think after several years of development, Bing is ready to compete with Google and Baidu in the Chinese market," the report quoted Shen Xiangyang, vice president of Microsoft, as saying. Not only in the Chinese Search Service competition, English service is also the case, not only on the PC platform, on the mobile device will also compete. ”