China search engine Baidu (BIDU) is leading all Chinese internet stocks on Tuesday. Letís say it again, Baidu is definitely a buy.
Since late 2010, the Forbes BRIC Breaker/ValuEngine weekly buy list has been touting Baidu as the best tech stock to own in the emerging markets. Itís price to earnings multiples were in the 40s and are now at 50.6x trailing 12 month earnings. Thatís down from last yearís average of around 60x. As far as China internet stock goes, Baidu looks cheap.