Benchmark is pushing back against heavy negative sentiment on $Roku Inc (ROKU.US)$, reiterating its Buy rating and healthy price target following reaction to the company's second straight quarter of disappointing subscriber additions - and some channel checks on Roku's players.
"Sentiment remains extremely negative, with incremental pressure starting to come from the sell side, although we have a markedly different view on some of the information being filtered into the marketplace, especially around the outlook for media & entertainment (M&E) spend and, to a lesser extent, SVOD (subscription video on demand)," analyst Daniel Kurnos says.
Along with the $Alphabet-C (GOOG.US)$ carriage dispute headed for a "cliff" on Dec. 9, it marks an "ideal setup" for the stock, "especially since our channel checks indicate a much healthier in-stock level of Roku TVs at both Walmart and Best Buy than feared, while we think a Google-Roku resolution could be in the offing even if a temporary blackout occurs."
Management's lack of visibility into its own supply chain built a "perfect storm" in Q3, with the subscriber miss creating a credibility issue, Benchmark says.
It did check on inventory of 55-inch and 65-inch Roku-supporting TVs in weighing the supply logjam, however. Only about 10% of Best Buy stores were out of stock of a particular size (but never both), backfilling stock within 7-10 days. And only 15% of Walmart stores were out of more than two particular brand/size combinations of six unique units, and 50% were out of only one or less.
Overall it feels like Spring 2020 "when bears argued that Roku would see increasing competition and decreasing leverage in (third-party) negotiations," complete with a COVID spike. While Benchmark acknowledges competition is hotter, it thinks Roku will be a share gainer with upside to net adds both domestically and abroad, "plus total platform revenue outperformance leading to a similar upwards share move."
The firm has a price target of $525, currently implying 127% upside
Roku is among the many streaming-centric companies looking to make some sales progress with Black Friday deals.

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$TENCENT (00700.HK)$Can Tencent come to america so we have cheaper options for music streaming ?

$Dow Jones Industrial Average (.DJI.US)$
Option one: It's bad. Really bad. Too many variations and it evades all methods to control it. We are all going down the hole together. Guess what...there is no escape. Going to cash isn't going to save you. Currencies are going to get burned. Life is going to be in the toilet. What do you do? Take whatever you have and buy all the market you can for cheap. Someday....things will be better, or you will be dead anyway.
Option two: There is nothing to see here. Typical overreacting driven by recency bias. Buy dip and have a cup of coffee while you ponder things to make with leftover turkey 🦃

$Disney (DIS.US)$ Give no chance

$Futu Holdings Ltd (FUTU.US)$I t seems so funny