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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
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Netflix could lose 4 million U.S. subscribers in 2020 - brokerage

12/10/2019 | 07:23am EST
The Netflix logo is seen on their office in Hollywood, Los Angeles

Needham and Co was the fourth Wall Street brokerage in two months to cut its rating for Netflix Inc on Tuesday, arguing competition from new streaming services could lead to the loss of 4 million premium U.S. subscribers next year.

Needham analyst Laura Martin, who downgraded the California-based tech giant to "underperform", believes Netflix will have to add a lower priced service to compete with competitors including Apple Inc's Apple TV+ service and Walt Disney Co's Disney+.

The cut came a day after Netflix dominated nominations for January's Golden Globe awards, landing 17 in TV categories and 17 more for movies, including leading contenders "Marriage Story" and "The Irishman".

Netflix's video streaming push has seen subscriber numbers dwarf those of rival services at the cost of huge investment in both regional and international content on its platform.

The streaming service had 60.62 million paid subscribers in the United States as of its latest quarter ended Sept. 30, accounting for over a third of its global subscriber base.

The approach comes at the cost of a rising debt pile, which stood at $12.43 billion as of Sept. 30, sparking concerns among investors.

Martin argued that the video streaming pioneer's staunch refusal to allow advertising on its platform force it to stick with premium price points which will result in subscriber losses in its most profitable market.

"Netflix's premium price tier of $9 to 16 per month is unsustainable," Martin said, adding that the loss of popular TV shows such as "Friends" and 'The Office' to its competitors could hit the company's value over time.

Netflix shares, which have been under pressure this year, fell 2.6% to $294.50 in trading before the bell on Tuesday.

Martin is now the sixth analyst to rate the stock sell or lower. A majority of brokerages still rate the stock at 'buy' or higher.

(Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Anil D'Silva)

Stocks treated in this article : Apple Inc., Netflix

© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.77% 142.06 Delayed Quote.7.71%
BASE CO., LTD. -2.47% 5920 End-of-day quote.-3.74%
BASE,INC. 1.35% 13560 End-of-day quote.38.93%
NETFLIX, INC. -6.88% 523.28 Delayed Quote.3.92%
THE LEAD CO., INC. 0.49% 824 End-of-day quote.-1.90%
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Financials (USD)
Sales 2021 319 B - -
Net income 2021 67 581 M - -
Net cash 2021 90 236 M - -
P/E ratio 2021 35,6x
Yield 2021 0,59%
Capitalization 2 390 B 2 390 B -
EV / Sales 2021 7,21x
EV / Sales 2022 6,80x
Nbr of Employees 147 000
Free-Float 98,9%
Chart APPLE INC.
Duration : Period :
Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 134,70 $
Last Close Price 143,16 $
Spread / Highest target 22,2%
Spread / Average Target -5,91%
Spread / Lowest Target -44,1%
EPS Revisions
Managers and Directors
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Independent Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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