- Netflix missed their guidance for December and guided March sub adds down by 64%. While it’s common for Netflix to guide below the Street, the magnitude of the guide down is greater than typical.
- Netflix is now trading at 6% higher than the pre-pandemic price which is testimony to the market focus for future growth.
- Brace yourself, these results cast a shadow on the rest of tech. We will be paying most attention to the true tech barometers — Apple (reports on January 27) and Google (reports on February 1). Until Apple reports and we hear from the Fed, the tech market will be edge.