Market RotationIf tariff and macro concerns continue to ease, there might be a rotation into other Internet names and parts of the market that have been more vulnerable and pressured.
Seasonal TrendsSummer months are seasonally slower for NFLX, and the near-term catalyst path may be quieter despite compelling 3Q content.
Stock ValuationNFLX shares are at an all-time high and currently trade at a premium valuation, which may weigh on shares.