Artificial intelligence company Baidu, Inc. (BIDU) announced that it has launched Apolong II, a new generation of multipurpose autonomous minibuses, in China's Guangzhou. Shares of the company declined about 1% in Friday’s trading session. However, it pared its losses slightly to close at $164.50 in the extended trade. The Apolong II incorporates the autonomous driving capabilities of Baidu's Apollo Robotaxi and uses Baidu's vehicle-to-everything (V2X) and 5G remote driving service. With wide adaptability and extensive applications, the Apolong II is expected to make smart transportation easier for commuters. (See Baidu stock chart on TipRanks) On August 2, Bank of America Securities analyst Eddie Leung reiterated a Buy rating on the stock.
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