|Bid||204.82 x 1300|
|Ask||204.78 x 1300|
|Day's Range||203.70 - 205.78|
|52 Week Range||142.00 - 233.47|
|Beta (3Y Monthly)||1.09|
|PE Ratio (TTM)||17.24|
|Earnings Date||Jul 30, 2019|
|Forward Dividend & Yield||3.08 (1.51%)|
|1y Target Est||212.50|
Netflix reported second-quarter earnings results after market close Wednesday.
There's a call to regulate Amazon but it's unclear to what extent and whether it will stunt the company.
Apple is reportedly planning to buy exclusive rights to original podcasts. Bloomberg says the company has reached out to media executives, but there's no solid plan yet.The move could have a major effect on podcasting due to apple's large share of the market. An estimated 50-70% of listeners tune in through apple's podcasts app. Yahoo Finance's Adam Shapiro and Julie Hyman discuss with the panel.
(Bloomberg) -- Netflix Inc. shocked investors by reporting a drop in U.S. customers and much slower growth overseas, raising fears that the streaming giant is losing momentum just as competitors prepare to pounce.The shares plunged as much as 12% to $320.30 in New York Thursday, tumbling toward the worst one-day drop in three years, after the company reported a loss of 130,000 customers in the U.S. Netflix blamed higher prices and a weak slate of TV shows. It signed up 2.8 million subscribers internationally in the period, roughly half what the company predicted.“Netflix has a difficult road ahead, with looming competition and the removal of popular content,” said EMarketer Inc. analyst Eric Haggstrom. But a stronger lineup of new shows in the current quarter could help attract former subscribers, he said.The quarter represents the biggest black eye for Netflix since 2011, when the company split its DVD-by-mail business from its streaming business. That move raised prices for its customers, and resulted in the loss of more than 800,000 subscribers in the U.S. The company had planned to call the DVD service Qwikster, but it backpedaled on the plan after investors and customers scoffed at the idea.Netflix said the miss is a one-time blip rather than a long-term problem. The second quarter has typically been its weakest time of year: The company missed its forecast during the period in three of the past four years.Netflix looks to add 7 million subscribers in the current quarter, thanks in part to the return of top shows “Stranger Things” and “Orange Is the New Black.”“Our position is excellent,” Chief Executive Officer Reed Hastings said during a videoconference call Wednesday. “We’re building amazing capacity for content. Our product has never been in better shape.”Several analysts agreed that the second-quarter disappointment should be only a temporary hiccup for Netflix. Investors should “aggressively buy the stock” on weakness, especially below $325 a share, Loop Capital said.Heavy SpendingFor now, the second-quarter shortfall is renewing investor concern about the company’s heavy program spending and low profitability. Netflix shelled out more than $3 billion on programming in the quarter and another $600 million to market its shows. The company spent $594 million more than it took in and will need to raise money to fund programming.Investors had been forgiving about the spending and the debt -- so long as customers grew at record rates. But the loss of subscribers in the U.S. was the first since the Qwikster debacle, and it suggests Netflix may be running into price resistance or the limits of the addressable domestic market. The company has forecast it can reach as much as 90 million customers in the U.S., compared with 60.1 million currently.Overseas SlowdownInternational results flagged too, with the company missing its own forecast of 4.7 million new subscribers. Europe, Latin America and Asia have been the primary drivers of Netflix’s customer acquisition in recent years, and growth must be sustained if the company is to justify its high valuation.Netflix is introducing a cheaper, mobile-only package in India to attract customers in a big market with price-sensitive customers.Analysts expect the company to have a blockbuster second half because of a heavy release schedule that includes a new season of “The Crown” and movies by directors Martin Scorsese and Michael Bay. Even after the slowdown last quarter, Netflix still thinks it can have its best year of customer growth in 2019.But competition is coming. Walt Disney Co. and Apple Inc. plan to introduce streaming services this year, while offerings from Comcast Corp. and AT&T Inc. arrive in 2020. Those services may not steal users from Netflix, but they will make future growth harder, according to Michael Pachter, an analyst with Wedbush Securities.Just a Preview?“We saw a preview of next year with this quarter,” Pachter said in an interview with Bloomberg Television. “Next year, they’ll have a couple quarters where they’ll lose subscribers.”Another challenge: Competitors are taking back rights to programs that have been popular on Netflix, including “Friends” and “The Office,” to use for their own services. That will force Netflix to rely even more on its original productions.Those efforts have largely been successful. Its shows just earned 117 nominations for the 2019 Emmy awards. But reruns of old shows still constitute the majority of viewing.The slowdown in users overshadowed the company’s quarterly financial results. Earnings for the second quarter fell to 60 cents a share, but beat analysts’ estimates of 56 cents. Sales grew 26% to $4.92 billion, compared with projections of $4.93 billion.The stock had been up 35% for the year at the close of regular trading, nearly double the gain of the S&P 500. The decline spread to related stocks such as Roku Inc., which makes set-top boxes that deliver the streaming service. Its shares fell as much as 2.5%.(Updates shares, headline, scope of decline)To contact the reporter on this story: Lucas Shaw in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Cash App is free to download, and its core functions free to use. So how does this app, which has been downloaded more often than Venmo, make money?
Apple’s future iPhone sales stand to benefit from the services 5G networking can support, according to the stock’s new top Wall Street bull.
The coming iPhone cycle may be a non-event, but rising conviction in a strong 2020 lineup has one analyst feeling bullish about Apple Inc.’s prospects.
The 5G iPhone is coming, and one Wall Street analyst thinks it will be a big catalyst for Apple Inc (NASDAQ: AAPL ) and iPhone supplier Skyworks Solutions Inc (NASDAQ: SWKS ). The Analyst Raymond James ...
It's early days in the 5G wireless networks build-out. What 5G stocks will get a boost? The top 5G stocks in which to invest include chipmakers, network gear and fiber-optics makers.
Square (NYSE:SQ) has reached an inflection point. After losing over one-fourth of its value during the spring, Square stock has now recovered to its February highs.Source: Shutterstock This leaves traders wondering where SQ goes next. The increasing influence of Square could eventually make the company one of the biggest in tech. Consequently, this growth has taken the company to high valuations.While this portends well for the future of the company, whether to buy SQ stock at these levels remains unclear.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks Top Investors Are Buying Now Square Is the Next Tech GiantSquare is so much more than a competitor to PayPal (NASDAQ:PYPL). Long term, SQ stock will become the Apple (NASDAQ:AAPL) or the Amazon (NASDAQ:AMZN) of finance. It has begun to follow in Amazon's footsteps by becoming both a conglomerate and an ecosystem, and ultimately, a disruptor.The company started by enabling every smartphone owner to accept credit cards. It has since moved into point-of-sale systems and can now handle other business functions such as payroll, funding, and marketing. It has also enabled website creation through its purchase of Weebly. Late last year, Square even made a second attempt to become a bank. This approval would allow them to accept deposits.All this will combine into the same ecosystem, one that could do to many industries what Netflix (NASDAQ:NFLX) did to video stores and cable television. If nothing else, it makes Square's point-of-sale system a more compelling offering than the ones built by a company such as NCR (NYSE:NCR).The increasingly cashless society also plays into the firm's plans well. Square's Cash App serves the same function as banks from a consumer standpoint. This could leave investors and consumers may question the future need for a Bank of America (NYSE:BAC) or a Citigroup (NYSE:C). While I believe it is too early to predict the destruction of large banks, it could force radical changes to their business models to survive.Consequently, the question as to whether to buy SQ stock has become one of when and not if to buy. Like other disruptors, SQ trades at a high price-to-earnings (PE) ratio. Analysts forecast average annual profit growth at 46.1% for the foreseeable future. Hence, the company can attract investors even with its forward PE of around 73. The Charts on Square StockWithout fundamentals, analysts will evaluate Square based on charts and momentum. SQ happens to trade at a critical level. At around $82 per share, Square stock trades almost 20% below its all-time high of $101.15 per share. It has also reached the approximate price point from which it pulled back in February.If it sustains itself above $82 per share, I think it will run higher in the near term, perhaps even retesting levels above $100 per share. A pullback could mean that it retests support in the mid-$70s per share range.It could also portend the beginning of a trading range between the low $60s and low $80s per share level.Another critical point could come Aug.1 when the San Francisco-based financial tech firm reports earnings for the second quarter. Since SQ will likely report an earnings beat, investors should watch forward guidance. This could provide the catalyst needed to drive Square stock for the foreseeable future. The Bottom Line on Square StockInvestors need more clarity on the equity's direction before buying SQ stock. Square supports a massive growth rate and continues to make the moves that could make its ecosystem one of the most influential in all of tech.However, the price of Square stock has reached levels where it pulled back in February. At this point, investors need to know that SQ is not forming a double top in the low $80s per share range.If it closes in the mid-$80s per share range or higher, it could retest that $101.15 per share high. If it pulls back, investors should wait until the stock finds its next inflection point.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks Top Investors Are Buying Now * The 10 Best Cryptocurrencies to Keep on Your Radar * 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The post Square Stock Is a Buy and Hold, but Not at Current Levels appeared first on InvestorPlace.
Apple Inc. was upgraded to outperform from market perform by Raymond James, which says it has greater confidence on next year's 5G iPhone cycle. Raymond James also upgraded Skyworks to outperform, since it's a chip supplier. "Our more recent checks suggest that Apple plans to bring 5G to a wider range of iPhone models, which is different from their plan when they had intended to use Intel's modem. We feel that offering 5G at lower price points will drive a stronger product cycle, and early production plans tend to confirm that view," said the analysts.
It was just a year ago that the debate about trillion-dollar market caps focused on Apple Inc. and Amazon.com Inc., but Microsoft has held that title to itself for more than a month.
Investing.com - U.S. futures fell on Thursday, under the dual impact of a disappointing quarterly update from Netflix and revived concerns about U.S.-China trade.
(Bloomberg) -- Qualcomm Inc. was fined 242 million euros ($272 million) by European Union antitrust regulators for deliberately pricing some chips so low they could eliminate a smaller rival.The penalty comes a year after Qualcomm was ordered to pay 997 million euros for thwarting rival suppliers to Apple Inc. The EU said Thursday’s fine was 1.27% of Qualcomm’s revenue last year and "aimed at deterring market players" from trying the same thing.The Qualcomm investigation targeted 3G chips for internet mobile dongles sold between 2009 and 2011. Regulators said these were sold below cost to Huawei Technologies Co. and ZTE Corp., "two strategically important customers," in order to push Icera, now owned by Nvidia Corp., out of the market."Icera was becoming a viable supplier of UMTS chipsets providing high data rate performance, thus posing a growing threat to Qualcomm’s chipset business," the EU said.Companies have complained about the slow pace of EU antitrust enforcement in fast-moving technology markets. Icera sought to draw in the EU by filing a complaint in 2010. It was sold to Nvidia a year later in 2011. The EU opened an investigation four years after that.Qualcomm said in a statement it will appeal and “expose the meritless nature of this decision.” It said it plans to provide a financial guarantee instead of paying the fine, until the courts have ruled.“The commission’s decision is based on a novel theory of alleged below-cost pricing over a very short time period and for a very small volume of chips,” Qualcomm’s general counsel Don Rosenberg said in the statement. “Contrary to the commission’s findings, Qualcomm’s alleged conduct did not cause anti-competitive harm to Icera.”Nvidia didn’t immediately respond to a request for comment.Apple ChipsLast year Qualcomm was handed the EU’s fifth-largest antitrust penalty over payments to Apple that the EU said were an illegal ploy to ensure only its chips were used in iPhones and iPads. San Diego-based Qualcomm is challenging the fine at the EU courts.Qualcomm, the largest maker of chips for mobile phones, is unique among semiconductor makers in that it gets most of its profit from licensing patents. Makers of handsets pay the company royalties, whether or not they use its chips. That lucrative profit pool has come under attack as governments around the world scrutinized Qualcomm’s business practices.(Updates with Qualcomm response in sixth, seventh paragraphs.)\--With assistance from Stephanie Bodoni.To contact the reporter on this story: Aoife White in Brussels at firstname.lastname@example.orgTo contact the editors responsible for this story: Anthony Aarons at email@example.com, Peter Chapman, Christopher ElserFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.