2 Popular Tech Stocks Investors Dropped in July
With June 30 now behind us, investors are digging through the second-quarter financials of hundreds of companies to assess their progress, particularly given this uneven and uncertain economic environment. Earnings season often delivers surprises both good and bad, but investors weren't impressed by the results from two popular technology companies specifically.
Netflix (NASDAQ: NFLX) and Spotify (NYSE: SPOT) saw their share prices tumble following the release of their financial results for the quarter ended June 30. Here's why.
July was a flat month for shares of Netflix, but they had climbed by as much as 8% before the company reported its Q2 financial results on July 19. The streaming giant has deployed new strategies to acquire subscribers, including an advertising-supported tier at a cheaper price point, and a crackdown on password sharing. But while they both yielded results, it didn't translate to an acceleration in revenue growth in Q2.
Source Fool.com
Netflix Inc. Stock
Our community is currently high on Netflix Inc. with 81 Buy predictions and 8 Sell predictions.
With a target price of 609 € there is a slightly positive potential of 5.16% for Netflix Inc. compared to the current price of 579.1 €.
