Apple (AAPL), Baidu (BIDU) Inch Closer to iPhone Search Deal
Tweet
Share
E-mailGet Alerts AAPL Hot Sheet
Price: $333.02 +3.53%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.8%
Join SI Premium – FREE
More word out Thursday on the potential for Apple (Nasdaq: AAPL) to go with Baidu (Nasdaq: BIDU) as another search engine for the iPhone in China.
According to Bloomberg, a deal between Apple and Baidu could be announced as soon as next week. The move would shift some search function from Google (Nasdaq: GOOG), which will remain the default browser in China.
Baidu has been dominant in the Chinese search race, accounting for 78.5 percent of Internet search queries. Comparably, Google amounted to just 16.6 percent, according to recent data from Analysys International.
Following the reports, Baidu's Singapore-traded shares rose 8.9 percent, while its ADRs are up 3.4 percent on the session Thursday.
Reports earlier in 2012 suggested Apple had been mulling the switch, though nothing definite has been announced by either company.
Both Apple and Baidu are slated to benefit from the move. Baidu is likely to draw more ad revs with the friendlier search engine, while the development might also be a key selling point for Apple in China.
Apple stock is trading 0.2 percent higher on the session.
According to Bloomberg, a deal between Apple and Baidu could be announced as soon as next week. The move would shift some search function from Google (Nasdaq: GOOG), which will remain the default browser in China.
Baidu has been dominant in the Chinese search race, accounting for 78.5 percent of Internet search queries. Comparably, Google amounted to just 16.6 percent, according to recent data from Analysys International.
Following the reports, Baidu's Singapore-traded shares rose 8.9 percent, while its ADRs are up 3.4 percent on the session Thursday.
Reports earlier in 2012 suggested Apple had been mulling the switch, though nothing definite has been announced by either company.
Both Apple and Baidu are slated to benefit from the move. Baidu is likely to draw more ad revs with the friendlier search engine, while the development might also be a key selling point for Apple in China.
Apple stock is trading 0.2 percent higher on the session.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trump: European Union taking aim at American companies not going to continue during Trump administration
- Apple (AAPL) PT Raised to $330 at Baird
- Devon Said To Mull Exit From Eagle Ford, Powder River Basins - Bloomberg
Create E-mail Alert Related Categories
Insiders' Blog, RumorsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
