The first-quarter 2026 earnings season is kicking off this week and, as usual, Netflix (NFLX) will be among the first tech names to report on April 16. NFLX stock is up 10% so far this year and outperforming the average S&P 500 Index ($SPX) peer. These gains could be attributable to the company's decision to walk away from acquiring Warner Bros. Disovery (WBD) assets — a costly proposal that Netflix had failed to sell to markets.
While tech peers have whipsawed this year amid worries over Middle East tensions, NFLX stock has been relatively stable. In fact, it had the potential to outperform amid the Iran war. Indeed, NFLX stock has fared better than the broader markets over this period, although not to the extent that I had previously expected. Ahead of Q1 earnings, however, Netlfix stock looks like a buy. Let's take a closer look.
