Roku (NASDAQ: ROKU) shareholders probably want to erase 2022 from their memories as the stock tanked a whopping 82% during the year. A combination of unprofitable growth tech stocks falling out of favor with investors and a general slowdown in the business are the main culprits that helped send shares sharply lower.

As investors set their sights on 2023, it's probably a good idea to consider reassessing the company's prospects. A closer look at the bull and bear cases for this streaming stock could provide readers with key insights about the direction Roku is heading. 

Roku's success thus far has been predicated on consumers continuing to ditch their old cable subscriptions in favor of streaming services. This is a broad secular shift that isn't going anywhere. According to data from eMarketer, the number of cable-TV households in 2023 will be less than the number of households that didn't have one for the first time ever, a trend that is only going to be more pronounced in the years ahead. 

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Source Fool.com