Netflix Inc. (NFLX)

More of a contrarian play. Lots of noise. Continues to strengthen its competitive positioning. Only platform with true global distribution. Sustainable, positive FCF. Pullback is opportunity. Subscriber trend remains solid. Foray into live events is positive. No dividend.

His team has been circling this one. Valuation of 24x PE much more attractive and reasonable now. Topline growing 12-13%. Go-to streaming offering. Continues to joust for the WBD asset -- it wants just the streaming business, whereas Paramount wants the whole thing. Trump's weighed in (as he does on everything), so it's going to come under regulatory scrutiny for a long time, and that will be an overhang.

Looking good at these levels. Great execution. Likes the underlying fundamentals.

Challenged of late because of concerns about spending to acquire WBD and is that worthwhile? Long-term aspects of the deal indicate that NFLX will be such a big content and media provider that it can beat out all competition.

Subscriber base continues to grow. Despite capex spend, still sees ~20% earnings growth going forward. Trades ~24x forward PE, not expensive. Likes it, but market's pummeling it. Approaching support levels. If you don't own, add slowly and see where it goes.

Fallen below 200-day MA, which is starting to turn -- a bit concerning.

Is holding on. Yes, there are issues concerning the Warner Bros. deal, but this is the best streamer. He owns the best companies. Will reconsider if there are bad operation moves.

She wants to own this stock. The PE is finally coming down to buy. But she has no idea how AI disrupts this business.

Sold Netflix. He had enough. It was a winning trade, now losing. He was long at $66 and it will bounce, but what can he do? He can't watch the stock go lower and lower.

Is too expensive and avoids it. It's come down a lot. They've done a great job with its business. Shares got ahead of themselves.

Once again, a name that's shooting out terrific results. Yet the market's focused on one thing -- is it going to get WBD? No one knows. All he knows is that it reported 13% revenue growth last quarter, and guided for near 20% profit growth going forward. Adding new programming all the time and new subscribers. Pricing power. 

Not worried about how much $$ to be spent if it gets WBD, because they'd be paying a pauper's price for an amazing quality business with some of the best IP. At 20x PE for one of the world's best companies, you'd be silly not to buy it here. No dividend.

He actually likes the Warner Bros. deal to acquire the best movie studio in the world.

No company has pivoted more successfully than Netflix. Are pivoting now, wanting to buy Warner Bros. for its content--he's not sure about it. The organic business is still growing, but the big question is what will happen to Warners? If they buy it at full price, it will give them great content, but not growth.  At 30x PE, it's a full multiple.

Dominant business. Starting a really nice ad business, which has very high margins. The all-cash offer for WBD will drain a lot from the balance sheet. How is it going to pay for the potential acquisition? How will that affect earnings and cashflow? A takeover will also take time to work through.

Doesn't own, but starting to look at it. Waiting for dust to settle on valuation and acquisition synergies -- at least 1-2 years.

Big battle right now is focused on content. Earnings came out a bit weaker because subscriber growth has started to slow down. Lots of competition out there. Growth will come not only from movies, but also from live events such as sports. Stock's down 8% YTD, but still trades at a hefty valuation ~33x PE.

He'd certainly wait to see if it can sustain earnings growth, as that's the challenge.

Netflix has a YouTube problem--they have to compete with original content. That's why YouTube unseated them, because audience appetite is for original content.

He sold half his position. (Shares are at a 52-week low.) He should have sold when NFLX offered to take over Warners. He still likes it long term. No, he isn't happy they want to buy Warners--why do they need it? They could spend that money by investing in 5 years of content.

It reports Tuesday. He expects to hear why NFLX wants to pay a fortune for Warner Bros.