Netflix's stock price dropped 0.75% to $266.01 after Bank of America analyst Nat Schindler argued in a note to clients the streaming company's quarterly numbers could prove to be "make or break."
In particular, the Bank of America analyst contends investors will get a good sense of whether Netflix will be able to keep up with rivals Walt Disney (DIS) - Get Report and Apple (AAPL) - Get Report when it releases its third-quarter financial report on Oct. 16.
Apple is now gearing up for the launch its own, $4.99-a-month streaming service this fall, having recently unleashed a wave of TV ads to promote it.
Still, the BofA analyst does see Netflix shares making some big gains over the next year, potentially going as high as $450 a share.
The sober assessment by BofA comes after a more sanguine note on Netflix's prospects analysts at Piper Jaffray sent to investors Wednesday, citing a recent survey it conducted of 1,500 Netflix subscribers.
Roughly three-quarters of Netflix subscribers say they have no intention of moving to Disney or Apple, both of which are muscling into the video-streaming sector. And of those that are interested in signing up for the rival streaming services, the "vast majority" still also plan to keep their Netflix subscription, the survey found.
Netflix will continue to "will continue to capture a significant portion of traditional content dollars," the report noted.
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