If you invested $1,000 in Netflix in 2007, here's how much you'd have now via CNBCMakeIt
All eyes are on video-streaming giant Netflix, which faces new competition from Disney's highly anticipated streaming platform, Disney+, as it reported itsfirst-quarter earnings Tuesday.
While the company's stock took a slight dip after hours Tuesday, following its earnings release, it reported quarterly revenue that beat estimates and shares are up more than 34 percent as of Tuesday's close. "Platform status brings network effects not available to peers and competitors," analyst Bryan Kraft wrote in a note."Specifically, this is making Netflix even more of a go-to destination when consumers want to watch something, and it means having Netflix is becoming more of a cultural necessity for people around the world. It also makes Netflix a magnet for talent."
While Netflix's stock has shot up recently and has mostly done well over the years, though, any individual stock can over- or underperform and past returns do not predict future results. Worth, chief market technician at market research company Cornerstone Macro, acknowledged that Netflix's stock is"one of the great winners of all time," but added,"I think it's risky to go into earnings long, at least full long. I'd reduce or buy puts or some other strategy to protect oneself."
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