Top Tech Stocks – Netflix in Cahoots with Apple

Posted by on Sep 01, 2010 | No comment

Netflix Inc. (NASDAQ: NFLX) has launched its new iPhone app that works over Wi-Fi and 3-G connections. The app has also been made available for iPod Touch. Netflix is facing increased competition from various other streaming video services such as HBO and Hulu. Hulu recently launched its own paid streaming service.

Netflix recently announced that it reached a deal that would delay the availability of new releases from Universal and Twentieth Century Fox for at least a month after the official DVD release date. In lieu, Universal and Fox agreed to provide more movies and TV shows to Netflix.

Netflix also recently entered into collaboration with Apple Inc. (NASDAQ: AAPL), in which  Apple plans to include Netflix into its Apple TV service. The service will be offered through a new Apple set-top box and users would pay a subscription fee to Netflix for the service.  Apple refused to confirm the rumor.  Netflix is also providing a free downloadable application to users of Apple’s Macintosh and iPad computers.

Research Firm Piper Jaffray stated that the company stands to benefit from its collaboration with Apple. The firm said that an Apple TV launch with Netflix suggests that Apple is not looking to launch a movie subscription service

Netflix is a mail DVD company. The company also streams the movies via various mediums. It offers various subscription plans with no due dates, shipping fee or late fee. Netflix subscribers can watch unlimited movies and television episodes streamed to their televisions and computers. They also can receive DVDs delivered to their homes. Netflix serves approximately 12 million subscribers. The company was founded in 1997 and is headquartered in California.

The Netflix stock has traded in the range of $39.27-$140.90 in last 52 weeks. The stock has a support level at $122.57 and a resistance level at $127.71. Year-to-date, the stock is up an impressive 140.37%.

Netflix Inc.’s market cap is $6.89 billion and its stock is trading at the P/E ratio of 53.35. The company beta is 0.50 and its EPS stands at $2.47.

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