JPMorgan analyst Samik Chatterjee maintained an Overweight rating on Apple Inc (NASDAQ: AAPL) on Monday.The latest ruling from Judge Yvonne Gonzalez Rogers has led to a lot of investor questions around the impact on App Store revenues from the use of alternative payments with no obligation to pay Apple a fee relative to the most recent setup of leveraging alternative payments, but with a 27% fee to Apple, after the initial ruling from the same judge enabled Steering.
JPMorgan analyst Doug Anmuth maintained an Overweight rating on Netflix Inc (NASDAQ: NFLX) with a price target of $1,150 on Monday.
Netflix shares are +30% above post-tariff lows, significantly outperforming the SPX +15%, driven by the streaming giant's defensive subscription nature & streaming leadership against macro and tariff uncertainty, Anmuth noted.
The analyst said some of that may reverse shortly as trade relief shifts investors more to tariff-impacted names that have lagged in recent weeks.
More fundamentally, heading into Netflix's Upfronts this week, he expects the company to provide updated Ad Tier MAUs, announce further expansion of the Netflix Ads Suite across international markets, and highlight key Live/Sports content.
Anmuth remains bullish on Netflix's growing Ad Tier scale and projected Ad Tier subscribers of 60 million+ by the end of 2025, which ties to 140 million+ MAUs, assuming ~2.3 times MAUs or subscribers.
Now that Netflix has reached sufficient scale, the company is shifting its focus more to monetization. The analyst projected advertising revenue (ex-subscription) of $3.0 billion in 2025, more than doubling from $1.4 billion in 2024. Beyond advertising, the 2025 content slate remains strong, with key second-quarter releases including "Nonnas," "Sirens," "Big Mouth" Season 8, "Fear Street: Prom Queen," "Ginny & Georgi...
