Photo: Jamie via Flickr
There are some words right now that are guaranteed stock-juice.Android is one. Qualcomm is another. Wireless is another. Tablets also a great one.
So Kudos to Netflix for rolling them all up into today’s announcement that Qualcomm will power the technology to allow Android mobile devices (handsets and tablets) to watch Netflix web video.
How impactful will this be to the company’s future? Well, obviously it was only a matter of time before the company jumped on the Android bandwagon, given the popularity of streaming on the company’s iPad app, and just the general emergence of tablet/mobile devices as video viewing platforms.
Naturally the stock is surging. The stock is up nearly 6.5% to — you know it — a brand new highs.
Qualcomm, meanwhile, is up 1.8%.
Of course, Netflix is one of the most shorted stocks, and so today’s news is driving the shorts absolutely crazy. After all, they figure, the company can’t have a PE ratio of over 80 without a lot of this stuff priced in.
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