Netflix stock price was down on Thursday, trading at $217.02 as of 10:51 AM EDT.
Netflix stock price declines despite Bernstein designating Meta Platforms as the company’s top pick. Even though the IT behemoth was awarded the top option by financial company Bernstein, Meta Platforms (NASDAQ:META) dropped more than 3% on Thursday.
The corporation claimed that it is at a crossroads for the third time in its history and that the bear case is growing louder because some people think social media has an “expiration date.” The company, which rates Meta Platforms (NASDAQ:META) with an outperform rating and a $195 price target, claimed that at this point, a small recovery might go a long way toward quelling bearish sentiment.
The analysts stated that “at present pricing levels, we don’t need to prove out the bull case for the stock to function.” Today, all that is required of the company is for it to get back on track, show improvement in revenue trajectory, and show proof that global engagement is growing throughout its family of apps.
The upcoming third-quarter results may be regarded as a “make or break” quarter, the analysts said, adding that the objectives are “easier said than done.” While stating that “there is evidence to show that all three legs to the bear thesis have been overdone and over-hyped,” they noted, “We are neither apologists nor blind optimists.”
Apple stock price analysis
Apple (NASDAQ:AAPL) and Meta Platforms (NASDAQ:META) are well-positioned to become leaders when investors return to the tech sector, according to Loup Ventures analyst Gene Munster on Wednesday.
Although Meta Platforms (META) invests $10 billion annually in expanding the metaverse, its staff seldom ever wears a headset. Why, therefore, would users of the metaverse adopt it in such great numbers? The following video by Travis Hoium explores key issues with Meta’s ambitious metaverse plan and explains why its funds could be better allocated elsewhere.
In other news, we can recap What Caused Today’s Decline In Netflix Stock?
Featured Image – Unsplash © Dima Solomin
Author Jowi Kwasu