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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

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Apple : Netflix could lose 4 million U.S. subscribers in 2020 - brokerage

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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
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.30% 320.2906 Delayed Quote.8.19%
NETFLIX 0.61% 351.9501 Delayed Quote.0.75%
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Financials (USD)
Sales 2020 277 B
EBIT 2020 67 080 M
Net income 2020 56 992 M
Finance 2020 91 199 M
Yield 2020 0,99%
P/E ratio 2020 24,4x
P/E ratio 2021 21,2x
EV / Sales2020 4,73x
EV / Sales2021 4,39x
Capitalization 1 400 B
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Technical analysis trends APPLE INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 295,47  $
Last Close Price 319,23  $
Spread / Highest target 25,3%
Spread / Average Target -7,44%
Spread / Lowest Target -53,0%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson 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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