QQQs +95bps as AI semis/supply chain/ORCL ripping on Stargate news and investors feeling better about tech earnings following NFLX massive beat. Yields roughly flat. BTC -2%.
Lots to get to on NFLX and Stargate news (we outline impact to different sectors/stocks below) so let’s get straight to it…(apologies for typos)
NFLX +15%: Goldilocks print with huge sub beat (18M vs street at 9M and bogeys of 13M), better top line guide, better margin guide hiking prices and good commentary around sub adds
Not much to nitpick in this print. Buyside EPS going up to $32-$33 from $30 for ‘26.
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