Netflix Slips to $92.89 as Buy-the-Dip Debate Heats Up

Netflix Inc shares fell another 2% to $92.89 on April 21, capping a 27% drop from peaks after Q1 earnings volatility. The stock plunged 10% on April 17 despite beats on $12.25B revenue (+16% YoY vs. $12.17B est.) and $1.23 EPS, triggered by weak Q2 guidance ($12.57B revenue vs. $12.64B est., $0.78 EPS vs. $0.84 est.) and Reed Hastings' chairman exit. Bulls including Morgan Stanley ($115 PT) and JPMorgan ($118 PT) champion the dip as a buy, highlighting $12.5B FCF raise, 70% advertiser growth to 4,000+, $2.8B WBD fee, and $3B ad revenue in $50.7B–$51.7B FY guide at 30-34x forward P/E.