NASDAQ
NFLX
5 articles
$511B Market cap · 2025-09-16
$FTDR Vol declining (existing home sales=driver). Pricing lagging inflation, massively over-earning. Problematic given 25% churn w aggressive new entrants. Dubious company overall. Investor day yesterday was comical, compared themselves to $NFLX. Earnings misses coming.
Internet analysts once focused on Google Search, Meta advertising, Netflix subscribers and AWS growth. AI-era capex has made those earnings calls more complex.
Netflix’s incremental margin fell to 28% from 36% as technology spending rose 22%. Sports rights and short-form investment could slow operating leverage beyond the second half.
Meta is bought around $590 to $600 despite heavy AI capex, on Reels engagement gains, ad-network tailwinds and AI-driven operating efficiencies.
@wallstengine Short form is eating $NFLX alive too
Letters that discuss NFLX.
