Netflix struggles as tech stocks soar in record market

Netflix stock has fallen 5.5% in July amid a summer rally for Big Tech companies like Meta, Amazon, and Nvidia, which surpassed a $4 trillion market cap. Despite recent struggles, Netflix is set to report second quarter earnings on July 17, with projected revenue of $11 billion and operating income exceeding $3.7 billion. JPMorgan analysts anticipate solid double-digit growth from last year. However, rising investor hesitation has led to a recent sell-off, with concerns about valuation and future upside. Evercore ISI notes that Netflix now trades at around 41 times forward earnings, leaving little room for error.

Read more at Yahoo Finance: One tech giant is getting buried in the record-setting stock market