Netflix Stock's Last Decade Was Spectacular. But What Will the Next Decade Look Like?

Netflix delivered a 21% annualized return over the past decade, turning a $10,000 investment into $68,500. However, the company faces a growth deceleration with revenue growth slowing from 17.6% to a forecasted 11.7%, though Q2 results were solid with 13% YoY revenue growth and expanding operating margins. The stock trades at 21x forward earnings, down 47% from its 52-week high, with advertising and live programming emerging as key growth drivers.