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T - Netflix Is Still Overvalued By At Least $114 Billion
AT&T Inc.
With the subscriber miss in 4Q21 and weak guidance for subscriber growth in 1Q22, the weaknesses in Netflix’s business model are undeniable.
Strong competition is taking market share, and it’s becoming clear that Netflix cannot generate anything close to the growth and profits implied by the current stock price.
Netflix’s valuation implies subscribers will double and we think the stock could have a further 66% downside.