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Sylvain Lefevre | Getty Images
Netflix co-founder, president and CEO Reed Hastings attends a Q & A session at a transatlantic forum in Lille, France.
Netflix on Tuesday released a quarterly revenue higher than estimated but incorporating forecasts in the light for the next quarter.
Netflix CEO Reed Hastings said he's not worried about growing competition. Last week, Disney announced that its streaming service, Disney +, would be available starting November 12 for $ 6.99 a month or $ 69 a year. Apple is also planning a streaming service, Apple TV +, which should be launched this fall.
In its quarterly shareholder newsletter accompanying its quarterly results report, Netflix wrote, "We do not expect these new entrants to significantly affect our growth as the shift from linear entertainment to on-demand entertainment is so important. and because of the different nature of it, our content offerings. "
Munster said that he was not necessarily concerned about the competition either; he thinks people will have several services.
"Netflix will come out well, I think they're going to have a big market share in the US and around the world, and I do not necessarily think it's a good thing," he said. he explains.
That's because the company is overvalued, he says, and should be much smaller than its current market capitalization of $ 156.9 billion.
"More people who buy from Disney or Apple are buyers," said Munster.
However, for now, the title seems to want to go higher, he added. For him, it's an indication that international growth is "globally intact".
The bottom line: "We are probably talking too much about Netflix," said Munster.
"This stock is likely to be cut off here, the multiple could go up or down a bit. [is] to come up. I think there are much better places to play in technology. "
Netflix did not immediately respond to a request for comment.
– Lauren Feiner and Alex Sherman of CNBC contributed to this report.
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