Netflix Holds Near $77 Despite Death Cross Ahead of Earnings

Netflix shares stabilized around $77.36 on July 7-8, finding support near 52-week lows after a 45% plunge from the $134.12 peak. The stock remains below its 50- and 200-day moving averages in a confirmed death cross, yet Wall Street stays constructive with 37 of 50 analysts rating it Buy or Strong Buy. Sentiment improved following the $25 billion buyback, raised 2026 FCF guidance to $12.5 billion, and expectations for ad revenue to double to $3 billion. Focus now shifts to the July 16 earnings report, where consensus projects EPS of $0.79 and revenue of $12.58 billion.