3 Top Streaming Stocks To Check Out Right Now
Without question, streaming stocks were among the most popular stocks to buy during the pandemic. Understandably so, as these companies provide products and services that suit the pandemic climate. However, some of these streaming companies have come under pressure in the stock market as the economy reopens. Besides, there are also more companies diving into the space. In addition, some may consider streaming to be a lucrative opportunity or even an alternative career. Regardless of the circumstances, investors would agree that the industry is one that has been showing significant growth.
So, investors would naturally be on the lookout for Netflix’s (NASDAQ: NFLX) fourth-quarter earnings report later today. It may very well set the tone for the industry this year. One of the metrics that will be in focus is the number of customers Netflix is able to attract during the quarter. Some analysts believe that the company’s growth will be stagnating this year. Hence, should there be any pleasant surprise, it could be a huge boost for the company and the industry as a whole. Separately, it’s worth pointing out that the company recently raised subscription prices for customers in the U.S. and Canada. With all this in mind, here is a list of the top streaming stocks in the stock market today that may continue to make strides this year.
Streaming Stocks To Buy [Or Sell] In January 2022
First, to make the list, we have the tech giant, Alphabet. Most would recognize the company through its Google segment that includes Google Services and Google Cloud. Well, its Google Services segment includes products and platforms such as Android, Google Play, and Youtube, to list a few. In this day and age, most people would be no stranger to Youtube, the company’s video streaming platform that is used by billions of people around the world. The company believes that the platform will give everyone a voice and a place to share their stories. With that said, GOOGL stock has risen more than 40% over the past year.
The company recently announced that there will be a yearly subscription for Youtube Premium and Youtube Premium in select countries. So, if you’re residing in countries such as the U.S., Canada, Mexico, Brazil, Russia, Turkey, Germany, Thailand, Japan, or India, you will be entitled to a discounted price until the end of the week. In the U.S., subscribers will be paying $107.99 for the new Youtube Premium plan while Youtube Music Premium will be at $89.99. Could this be Youtube’s new strategy to boost its dominance in the streaming space? After all, the streaming space has seen significant growth over the past few years.
Besides that, Google appears to be forming a group that will dedicate itself to blockchain and related technologies. According to Bloomberg, Mr. Shivakumar Venkataraman will be the founding leader of Labs, a business division of Google that houses its virtual and augmented reality efforts. Looking at the larger picture, it is encouraging that Alphabet is exploring and experimenting with blockchain technology. Not to mention, analysts from various banks such as Morgan Stanley (NYSE: MS) and Bank of America (NYSE: BAC) remain bullish on GOOGL stock. Brian Nowak from Morgan Stanley recently raised the price target to $3,430 from $3,200. Meanwhile, BofA’s Justin Post also raised the price target to $3,470 from $3,210. Given these bullish sentiments, would you consider adding GOOGL stock to your portfolio?
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Another top name in the streaming space right now would be AT&T. Traditionally, the company is known for its telecommunications, media, and technology services globally. Its WarnerMedia segment develops, produces, and distributes feature films, television, gaming, and other content. To the company’s delight, HBO Max, the company’s streaming service, is a rising star in the industry today. With increasing adoption by the day, it would not be surprising that investors are keeping a close eye on T stock right now.
While the likes of Netflix and Amazon (NASDAQ: AMZN) Prime decided to raise their subscription fees, HBO Max is taking the opposite approach. For those unaware, HBO Max offers two types of subscription models. One is an ad-supported version for $9.99 a month while an ad-free version would cost $14.99 a month. However, any new or returning subscriber who signs up before the end of January can get discounted rates of $7.99 and $11.99 respectively. By now, investors would have taken notice that the price war in the streaming industry is on. So, could HBO Max’s approach be the right one long-term?
Investors should also note that the company recently announced a partnership with Nvidia (NASDAQ: NVDA) to bring its customers one of the world’s best gaming experiences. Now, new and existing AT&T 5G customers on an eligible rate plan will get a 6-month GeForce NOW Priority Membership for free. Given these exciting developments, would T stock be a viable investment prospect right now?
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Roku operates a television streaming platform. Through its streaming players and television (TV)-related audio devices, consumers can discover and access a variety of streamable content. Also, the company also has its very own Roku TV that is available in the U.S. and select countries. Well, it is no secret that ROKU stock has been struggling in recent times. However, there are reasons to believe that this could be an attractive opportunity to buy the dip.
For starters, Roku ended 2021 by announcing new growth and international expansion to the Roku TV Ready™ Certification program. Some of the notable partners added this year include Element, JVC, Pheanoo, and Phillips. Also, the program has now expanded internationally with partners launching in the United Kingdom, Canada, and Mexico. Safe to say, the program that was designed to simplify and unify the modern home theater has been a success for the company thus far.
On top of that, Roku also announced that for the second year in a row, its Operating System (OS) was the number 1 smart TV OS sold in the U.S. according to NPD’s Weekly Retail Tracking Service. It doesn’t stop here, the company also entered a collaboration with Sharp to bring Sharp Roku TV™ models to customers in the U.S. Hence, Sharp Roku TV models will come with Roku OS, offering a customizable home screen and access to thousands of channels. All in all, the partnership will bring a more appealing TV experience for customers. With that in mind, would you deem ROKU stock to be trading at an attractive valuation currently?
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