Netflix From 134 to 70: Is the Giant Just Catching Its Breath?Netflix, Inc.BATS:NFLXburakkesmeciNetflix From 134 to 70: Is the Giant Just Catching Its Breath? In a stock down 48% from its peak, have the fundamentals collapsed too, or has a good company simply gotten cheaper? 1 — Fundamentals: The company is solid, the sector is crowded Netflix is a leader whose growth is slowing but whose profits are deepening. In Q2'26 revenue rose 13%, margin climbed to 33%, roughly 12.5 billion dollars in annual cash flow is being targeted, and the ad business is doubling. In the sector, meanwhile, in the U.S. it sits second with about a 21% share, just behind Amazon Prime (22%), and Disney+ (16%) is rapidly closing in. So the fundamentals aren't breaking down; only the "fast-growth premium" is being erased from the price. 2 — Ratios: The balance sheet is stronger than the sector All four filters of my ratio analysis place Netflix on the "resilient" side. Debt/equity of 0.47 (50% below the 10-year median), beta of 0.84 (relatively calm versus the index), consensus of 1.62 ("Buy" zone), and distance to target of about 48%. Interest coverage is around 24x, meaning the debt burden is almost nonexistent. In short, not "cheap but rotten," but "solid and durable." 3 — Technicals: The bears are tiring and the critical support is 64 There's a drop from 134 to 70, but the bears are losing momentum. Price is below the SMA50 and has taken the SMA200 (70.98) — which holds the main trend — as support. There is a positive divergence in momentum, meaning that while price makes new lows, the indicator doesn't. The sellers' strength is running out. The first support is 64. As long as this holds, there's no major problem; in the worst case, a stretch down to 53-55 could be seen. Even though the major trend from June 2022 has been broken, Netflix may be getting ready to write a new story. Conclusion All three data sets point to the same thing. Fundamentals are solid, ratios are strong, the chart is in a correction within its main trend. The decline signals not a breakdown of the company, but a normalization of the valuation. In resilient stocks, pullbacks like these can be viewed as an opportunity. The level I'm tracking for the decision is clear: 64. As a bonus, over the last 3 months 57 analysts rating the stock place it at "Buy." The average target is about 95 dollars (35% return) and the maximum target is projected at 135 dollars (93% return). Do you think Netflix can find a bottom and write a new story?