T Jan 2021 28.000 put

OPR - OPR Delayed Price. Currency in USD
1.6800
0.0000 (0.00%)
As of 3:45PM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close1.6800
Open1.6500
Bid0.0000
Ask0.0000
Strike28.00
Expire Date2021-01-15
Day's Range1.6500 - 1.6800
Contract RangeN/A
Volume27
Open Interest11.89k
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    Disney (NYSE:DIS) stock has seen a nice run since April, with shares up more than 30%. Investors are highly bullish on the announced Disney+ streaming service. But with the company's current valuation, is short-term upside limited?Source: Shutterstock Disney is a content machine, and the expansion of streaming will enhance monetization of its entertainment properties. But does this mean short-term upside to the Disney stock price? * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip Read on to see whether the Magic Kingdom's share price still has runway.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Content is King, and Disney is King of ContentDisney's decade-long acquisition spree (Marvel, Lucasfilm) capped off with the purchase of 21st Century Fox. With franchises such as The Simpsons and Avatar joining the portfolio of Star Wars, and the Marvel Universe, it is safe to say Disney is "King of Content."According to Box Office Mojo, Disney's film distribution arm (Buena Vista) had a 34.9% studio market share for the first half of 2019. Combined with 20th Century Fox's 3.9% market share, the combined Disney-21st Century Fox took home nearly 40% of theatrical box office receipts.While theatrical is only a small portion of film entertainment revenues, these figures indicate how the popularity of the company's content is leaps and bounds ahead of peers.Warner Bros., which is owned by AT&T (NYSE: T) subsidiary WarnerMedia, had only a 14.4% market share. Comcast's (NASDAQ:CMCSA) Universal had a 13.5% market share. Sony's (NYSE:SNE) Columbia Pictures had a 9.8% market share. Paramount Pictures, a unit of Viacom (NYSE:VIA) was far behind the pack, with just 5.1% studio market share.But is this extensive collection of entertainment franchises the company's key to beating Netflix (NASDAQ:NFLX), Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), and Apple (NASDAQ:AAPL) in the streaming wars? Streaming Strategy Key Catalyst for Disney StockAfter the 21st Century Fox purchase, Disney owns two-thirds of streaming service Hulu. Disney now has full operational control, and can buy out Comcast's one-third stake as early as 2024.Along with ESPN+, Disney already has assets in place to rival Netflix in the streaming wars. Add in Disney+, and the company could leverage their content dominance into a commanding streaming market share.But in the short-term, the company's streaming platforms are losing money. Both ESPN+ and Hulu generate operating losses. Disney+ will lose money for several years as well, with the company anticipating the service to only reach profitability in 2024.Disney generates sufficient free cash flow ($2.7 billion alone in Q1 2019) to subsidize these losses, but in the short-term could see earnings take a dip. Excluding one-time items, the company's Q1 EPS was down 13% YoY.On the other hand, Disney may be able to use increased operating efficiencies to mitigate streaming losses. The 21st Century Fox acquisition is slated to be accretive to earnings, as the company expects $2 billion in cost synergies by 2021.Long-term, the streaming strategy could push the Disney stock price to new highs. But at the current valuation, can investors expect additional short-term upside? Valuation: DIS Stock Pricey, But Could See More ExpansionTo a value investor, Disney stock is a hard pass. Trading at 22 times forward earnings, and at an Enterprise Value/EBITDA ratio of 19, DIS stock sells at a premium to its direct peers:Viacom: 10 times forward earnings, EV/EBITDA of 7.7CBS (NYSE:CBS): 8 times forward earnings, EV/EBITDA of 9.5AT&T: 9 times forward earnings, EV/EBITDA of 7.7Comcast: 13.4 times forward earnings, EV/EBITDA of 10But comparing DIS stock's valuation to its "old media" peers may be the wrong way to look at the stock. To the investing community, Disney's killer combo of billion dollar franchises and streaming infrastructure justifies a premium valuation.If the company continues to meet expectations, investors could bid up the Disney stock price to a valuation closer to that of Netflix and Amazon.But are investors getting ahead of themselves? It could be five years before shareholders see a return on the streaming build-out. With several years until streaming becomes a cash cow, investors may have better opportunities to enter Disney stock down the road. Disney Stock Price Has Runway, But Not in the Short-TermDisney has proved itself time and time again to the investing community. Figuring out new ways to reinvent the wheel, the content juggernaut is a master at monetizing entertainment. With this impressive track record, it is highly likely the streaming strategy will be another game-changer.But the streaming growth story is fully baked into the Disney stock price. Short-term, this could mean that shares tread water at the current price level, potentially falling off if the company's quarterly results fail to meet expectations.Long-term, the streaming strategy could move the needle once it reaches profitability. But in terms of short-term gains, investors should be cautious before entering a position in DIS stock.As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. 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  • InvestorPlace18 hours ago

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    Finally, some good news for AT&T (NYSE:T) shareholders: T stock hit a seven-year low late last year, but it has rallied since. In fact, the AT&T stock price reached a 52-week high last week before a modest pullback.Source: Shutterstock However, I'm not buying the rally. I've long been a skeptic toward AT&T, and I see little reason to change. The merger between Sprint (NYSE:S) and T-Mobile (NASDAQ:TMUS) could provide some competitive help. But Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and Dish Network (NASDAQ:DISH) reportedly are entering the market. Plus, AT&T continues to lose share to T-Mobile and Verizon Communications (NYSE:VZ).Admittedly, a 6% dividend is nice. But AT&T also has some $200 billion in debt. We've seen low-growth, high-debt dividend stocks like Anheuser-Busch InBev (NYSE:BUD) and Kraft Heinz (NASDAQ:KHC) cut their payouts in recent years. AT&T's dividend looks safe for now. But if the cellular business stumbles and DirecTV continues to decline, that may change.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe wild card here is WarnerMedia, built through last year's $85 billion acquisition of Time Warner. WarnerMedia not only adds potential growth, particularly in its HBO and Warner Bros. Entertainment divisions, it gives AT&T control of both content and distribution. That's something media companies increasingly have sought of late. * 7 Dependable Dividend Stocks to Buy But for the AT&T stock price to move higher, the acquisition needs to be a success, and WarnerMedia must grow. The announcement of that unit's plans for a new streaming service casts early doubt on those hopes. The Pricing Problem for HBO MaxWarnerMedia's new service will be called HBO Max, and that alone shows the problem here. WarnerMedia charges $15 per month for HBO Now, the unit's streaming service. The new service will include HBO, along with content from its Turner networks, Warner Bros. studio, and other properties like Looney Tunes.WarnerMedia naturally wants to price its new service in a way that captures the value of the non-HBO properties. But it has a problem. The standard plan from Netflix (NASDAQ:NFLX) costs $13. Disney (NYSE:DIS) is launching Disney+ in November for $6.99 a month.Thus, HBO Max probably is pricing between $15 and $18, according to reports (AT&T hasn't released an official figure yet). For the approximately 35 million existing subscribers, a shift makes sense. But WarnerMedia is then getting at most just $3 per month in incremental revenue from those subscribers.That incremental revenue -- at most slightly over $1 billion a year -- isn't much. And it isn't even free. WarnerMedia is foregoing an estimated $80 million in annual licensing revenue from Netflix just to reclaim the rights to Friends. It ostensibly will compete with its own TBS and TNT networks, which will lose advertising dollars as cord-cutting accelerates. Any incremental revenue from the current HBO subscriber base and the associated profit, still seems to leave WarnerMedia cannibalizing itself.So, the service must add new subscribers. But here's the exclusive content on HBO Max at its launch next year: HBO, Friends, The Fresh Prince of Bel Air, Pretty Little Liars, and content from The CW. There are other original series and movies. But is any customer going to pay $18 for that bundle if she's already passed on HBO? How many customers will pay a premium over Disney's and Netflix's cheaper content? Probably very few. The HBO Max Problem for T StockWarnerMedia head John Stankey has said his goal is for the streaming service to reach 70 to 90 million customers. As The Motley Fool pointed out, Disney has targeted 60 million to 90 million within five years. Netflix currently has 60 million U.S. subscribers.Even with an existing HBO base of 35 million, Stankey's goal seems hugely optimistic. There's little reason right now to see HBO Max outperforming those streaming rivals simply from a content standpoint. DirecTV Now subscriber numbers already are plunging, which bodes poorly for the new service. Execution, meanwhile, has been poor from the jump.Stankey originally publicly floated a three-tier pricing structure which, as CNBC reported, had barely been discussed with other senior executives. That concept was axed later. The Hollywood Reporter detailed the confusing rollout (and the questionable logo) of the service, closing by asking, "what the h-- is HBO Max, really?" That's a question WarnerMedia hasn't yet answered less than a year from the launch. AT&T Has Yet to Address the Cord-cutting CrisisAnd a failed streaming service is a big problem for T stock. It undercuts the entire rationale for combining AT&T with DirecTV and Time Warner. It very well may lead to declining earnings overall, as the mobile business stays sideways, profitable landline revenues continue to fall, and DirecTV and Turner both suffer from cord cutting. Without streaming driving growth, AT&T simply looks like a group of challenged business. Even worse, the company carries a debt load that is literally historic in its size.Particularly with the AT&T stock price back at the highs, investors are betting on some sort of success in streaming. Right now, I don't think that success is on the way. And I believe that, once again, T stock will give back its gains.As of this writing, Vince Martin has no positions in any securities mentioned. 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    Recently, Forbes' contributor Panos Mourdoukoutas offered up a frightening thought, at least if you're vested in Netflix (NASDAQ:NFLX) stock. He suggested that the content-streaming giant is the new Tesla (NASDAQ:TSLA). That's only a compliment if you arbitrarily consider only the first half of this decade. But over the last several months, TSLA has largely incurred serious volatility, portending bad news for NFLX stock.Source: Shutterstock Of course, that's only if Mourdoukoutas' analysis is accurate. However, he does bring up some valid points. After all, Netflix stock, just like TSLA, is considered a "hot stock" by investors. Investments like NFLX trade heavily on sentiment and popular themes. In this comparison, NFLX trades on the massive popularity of streaming, while TSLA moves on potentially transformative electric vehicles.And although I'm broadly bullish on NFLX stock, I concede that Mourdoukoutas makes some great points. For instance, these two names don't just trade on blind faith. Concerning Netflix, streaming has revolutionized and utterly disrupted traditional media broadcast. When people talk about cutting the cord, they almost always have Netflix in mind.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Dependable Dividend Stocks to Buy Furthermore, with Tesla, neither the company nor its CEO Elon Musk needs introduction. While I have contentions about Musk's unforced errors, he is a genius. And at the very least, he has forced the automotive industry to reconsider its longstanding position on the internal-combustion engine.Therefore, it's easy for investors to believe that they're riding a fundamentally sound narrative when they're actually trading on sentiment. As we saw with Tesla, its fundamentals showed vulnerabilities, hence taking down TSLA.Mourdoukoutas argues the same could happen with Netflix stock due to rising competition in the space, particularly with original content. Why NFLX Stock Is Still a Long-Term BuyNaturally, if you hold a substantial stake in NFLX stock, you want to know if Mourdoukoutas' argument has merit. Under this context, I'm afraid it does. While Netflix is unquestionably a brilliant content creator, the company is not guaranteed to hold this lofty advantage forever.But I think the real question is whether it's likely that Netflix stock suffers the same fate as TSLA; as in, a massive deflation in its share price. Here, I believe NFLX stakeholders can have reasonable confidence in the company's longer-term trajectory. Click to EnlargeThat's because NFLX isn't just a hot stock, but rather a growth stock. Obviously, this means that investors dive into shares because of the growth potential that will eventually transition to consistent earnings. Thus, a genuine growth stock should have a strong relationship between its price action and its top-line sales.And that's exactly what we see with NFLX stock. From the fourth quarter of 2006 through Q1 2019, the correlation coefficient between share price and revenue is 97%. From Q1 2013 through Q1 2019, we see an almost identical correlation strength.In other words, as the company generates more revenue, Netflix stock moves higher.But it's more than that. Netflix's revenue has gained tremendously in magnitude, and it matches the robust profits of NFLX. To put it simply, big revenue in Netflix translates to big returns in NFLX stock. Click to EnlargeMathematically, then, we can determine that Netflix is a classic growth stock. However, TSLA can't quite say the same thing. From Q2 2010 through Q1 2019, the correlation between sales and share price is 76%. But from Q1 2013, that correlation dips to 68%, and from Q1 2015, to 66%.Stated differently, TSLA is no longer a classic growth stock. Thus, it's not the greatest comparison to Netflix stock. Netflix Needs the Streaming Narrative to Stay the CourseNow before you load the boat with NFLX stock, let me clarify one point: just because TSLA is not the best example to compare Netflix with, it doesn't mean the streaming giant's equity will not suffer volatility. * 10 Monthly Dividend Stocks to Buy to Pay the Bills Going back to one of Mourdoukoutas' arguments, media behemoths like AT&T (NYSE:T) will challenge Netflix via its HBO acquisition. In the spirit of full disclosure, you should know that I bought T stock earlier this year. HBO was certainly on my mind when I did.That said, my argument is that Netflix is a genuine growth stock. Therefore, as long as that growth narrative remains intact, shares should move higher. Historically, we have only rarely seen NFLX break below its fundamentals.In my opinion, and the implied opinion of streaming-industry experts, the underlining sector can support multiple content creators. Therefore, Netflix has a strong consumer base from which it can grow both domestically and internationally. So, unless you have some compelling reason not to believe in streaming, I wouldn't worry too much about NFLX stock.As of this writing, Josh Enomoto is long T stock. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dependable Dividend Stocks to Buy * 10 Stocks Driving the Market to All-Time Highs (And Why) * 7 Short Squeeze Stocks With Big Upside Potential The post Why the Math Favors the Premium on Netflix Stock appeared first on InvestorPlace.

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    [Editor's note: "4 Internet of Things Stocks That Will Connect Investors to Profit" was previously published in January 2019. It has since been updated to include the most relevant information available.]As the reach of wireless expands, the Internet of Things -- or IoT -- promises to become one of the more robust niches in tech over the next few years. As such, Internet of Things stocks should prosper along with the industry.Semiconductor firms play an essential role in the growth of the IoT industry. However, due in large part to factors not related to IoT, many of the best semiconductor stocks have seen their values drop dramatically in recent months.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip While this may put off some investors, many Internet of Things stocks now trade at valuations so low that they could become the best stocks in tech once a recovery begins. With low valuations, a potential for growth, and their critical roles in IoT, these four stocks appear well positioned to benefit investors: AT&T (T)AT&T (NYSE:T) stands in a uniquely strong position in the 5G market. Assuming T-Mobile (NASDAQ:TMUS) succeeds in acquiring Sprint (NYSE:S), Verizon (NYSE:VZ), AT&T, and T-Mobile will form a "Big Three" of wireless. Given the tens of billions in cost it takes to build a 5G network, the market will likely not see new entrants. Hence, most IoT devices will eventually run on services provided by one of these firms.I chose AT&T primarily because it maintains the lowest forward P/E ratio -- 9.3 -- and has the largest dividend yield -- currently 6% -- among the three.To a degree, T stock has become cheap for a reason. Unlike its other major peers, it has taken on tens of billions in debt to acquire a sizable media content library. Investor skepticism about this move likely explains the lower P/E ratio.Admittedly, I do not know if this strategy will succeed. What I do know is that AT&T can sell the content library if that business line fails. Also, with the oligopoly forming in the nascent 5G industry, chances of failure in that niche are near zero. Hence, I feel okay with collecting a 6% dividend while waiting for this approach to play out. Once AT&T finds their path to success, the P/E ratio should catch up to that of its peers. Due primarily to its 5G network, AT&T should eventually become one of the more successful Internet of Things stocks. NXP Semiconductor (NXPI)NXP Semiconductor (NASDAQ:NXPI) takes its place among Internet of Things stocks on many levels. The firm's work in chips for automotive, consumer, and industrial applications means IoT plays a critical role in the company's products. Through IoT, it connects devices ranging from cars to health monitors to drones.As a result, NXPI stock appears more immune to the chip glut that has hurt profit growth for many semiconductor companies. However, despite this immunity, the market has punished NXPI stock. It fell for most of 2018, losing over 35% of its value since hitting its all-time high in February. Granted, the failed takeover attempt by Qualcomm hurt the stock as well. However, with a forward P/E of 10.8, Wall Street values it as if it were being hit by the chip glut. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip Analyst forecasts indicate otherwise. For 2019, on average, they predict 10% profit growth. They think NXPI will see double-digit profit increases in 2020 as well. Moreover, as 5G networks launch in earnest in 2020, and self-driving cars take to the roads, IoT should take off exponentially. This should propel NXPI stock to more gains. With a market cap of $28.3 billion, its story has only just begun. Once the market notices the continued profit growth of NXPI, I doubt the P/E will remain so low for long. Qualcomm (QCOM)In recent years, Qualcomm (NASDAQ:QCOM) seems better known for its failed attempt to take over NXP or its court battles with Apple (NASDAQ:AAPL). However, Qualcomm has led the way in connectivity for decades. That has helped to make QCOM one of the leading Internet of Things stocks.Even without 5G, Qualcomm has already shipped over 1 billion IoT devices. The firm offers turnkey IoT solutions. Also, its latest 5G-compatible Snapdragon processor will further strengthen its IoT presence.IoT could also lead a recovery in long-suffering QCOM stock. QCOM has lost one-third of its value since reaching a multi-year high in 2014.Years of pain have taken its forward P/E to about 14.75. But analysts forecast a return of profit growth next year, as they expect its profit to increase by 35%. Forecasts also indicate double-digit earnings increase will continue after 2020.Investors should also take QCOM seriously as a dividend stock. It has hiked its payout for eight straight years. The company will pay $2.48 per share this year, amounting to a yield of nearly 3.3%. Even if the stock languishes, stockholders earn a decent return while they wait for a recovery. Hence, with a low valuation and a recovery in profits forecast, QCOM could become one of the more lucrative IoT stocks. Skyworks Solutions (SWKS)At first glance, Skyworks Solutions (NASDAQ:SWKS) may not stand out from other Internet of Things stocks. Like most IoT players, SWKS specializes in chips designed for RF and mobile communications. Its IoT chips appear in smartphones, wearables, appliances, medical devices, and many other areas. SWKS also provides IoT in the world's industrial and wireless infrastructure.Despite decades of trading history, IoT has put SWKS stock on the map. It traded in the single-digits for years after the dot-com bubble burst. However, it had risen as much as 28-fold from its 2009 low before pulling back in 2018.Like most of its peers, SWKS suffered as a chip shortage quickly became an oversupply situation. SWKS stock has fallen 20% from its 52-week high. Like other Internet of Things stocks, the decline appears overdone. Thanks to the dropoff, SWKS stock trades at just 12 times the consensus forward earnings estimate. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip Profits also appear positioned to recover once the industry works off the glut in available chips. For next year, Wall Street analysts, on average, forecast profit growth of 6.8%. They also believe those increases will reach the double-digits in future years. The move to 5G should ensure this growth continues. With few companies offering such a value proposition at so low of a P/E ratio, SWKS should see increased interest from investors in the near future.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 * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post 4 Internet of Things Stocks That Will Connect Investors to Profit appeared first on InvestorPlace.