Facebook-parent Meta Platforms and Google-owner Alphabet have earned their spot among the Magnificent Seven stocks. While Netflix — part of the once-revered FAANG club alongside Apple and Amazon.com — does not earn that distinction, NFLX stock remains in a buy zone after achieving the biggest-ever global debut of a Japanese series.
The video streamer also has won a spot on the IBD Breakout Stocks Index. Magnificent Seven stocks Microsoft, Nvidia and Amazon stock join Netflix on this screen, which is updated weekly.
Netflix's "Yu Yu Hakusho," a live-action adaptation of a manga animated work, has become the biggest global hit ever for a series from Japan.
Following a delinquent teenager who gets ensnared in a world of ghosts and demons after risking his life to save a child, the new series debuted at No. 1 in the Netflix Weekly Global Top 10 Non-English TV List with 7.7 million views. It also secured the second spot across both English and non-English categories.
Plus, "Yu Yu Hakusho" made the Top 10 in 92 countries and regions around the world, including Japan, the U.S., Canada, France, Germany, Brazil, India, Hong Kong, and Taiwan.
See Who Joins Netflix Stock On The IBD Breakout Stocks Index
Netflix Stock Rebounds Into Buy Range
Building on a rebound in Netflix stock since June of last year, the streaming pioneer added 8.76 million subscribers in the third quarter, ending the period with 247.15 million members worldwide. Earnings growth accelerated to $3.73 per share, a 20% gain over the prior-year quarter. The report sparked a gap-up in Netflix stock, which soared by more than 16% on Oct. 19.
Rising for a second quarter, sales growth showed an 8% year-over-year gain to $8.51 billion.
The big gap-up in October propelled Netflix stock back above its 50-day moving average, which has continued to trend sharply higher. In another sign of rebounding technical strength, its 21-day exponential moving average crossed back above the 50-day line last month.
Netflix stock now trades in buy range, just above a 482.70 buy point in a third-stage cup with handle. Early In the final hour of trading Wednesday, NFLX trades is up 1% in light volume.
Fellow FAANG stocks GOOGL and AAPL stock are in or near buy range. Meta stock has become extended, while Amazon continues to flirt with the very top of its buy zone.
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Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
