Eddy Elfeinbein of CrossingWallStreet argues yes.
Some points he makes:
- It trades at 43x earnings.
- Forward PE is still a sky-high 35x projected earnings.
- To hit its goals, NetFlix needs margins to expand.
- But it’s facing brutal competition from Wal-Mart (WMT), Amazon (AMZN), RedBox, and BestBuy (BBY)
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