Netflix has surged 50% this year — but just 4% of our millennial investor panel says it's the FAANG stock they'd most want to own for the next 10 years
- Business Insider assembled a panel of hundreds of young investors who volunteered to share their views about the markets. This is a self-selected group of people under the age of 35 who have a brokerage account.
- Just 4% of participating millennial investors picked Netflix as the single FAANG stock they'd like to own for the next decade.
- The streaming service took less share than Amazon, Google, and Apple, but was still more popular with millennial investors than Facebook.
- The long-term reluctance comes with Netflix having soared 50% so far in 2020.
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Millennials may be a fan of "Netflix and chill," but they aren't as excited to have the streaming stock in their portfolios for the long term.
Of the more than 460 millennial participants in a Business Insider panel, just 4% picked the streaming giant as the FAANG stock they'd most want to hold over the next ten years.
The results come from a panel of hundreds of young investors that volunteered to share their views on the markets. This is a self-selected group of people under the age of 35 who have a brokerage account.
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The top choice among millennial investors was Amazon,with more than 50% of the vote, followed by Google, Apple, then Netflix. Facebook, the social-media giant, is the stock that millennials are least interested in holding for the next decade. Taking just 2% of the share, it was last on the list.
Even though Netflix isn't the most popular stock for millennials looking to build their investment portfolios, it's enjoyed a solid performance in 2020. The streaming service has gained 50% this year, outpacing the broader market, as investors have piled into technology stocks poised to perform well amid the coronavirus pandemic and ensuing recession.
In its latest quarterly report, Netflix crushed Wall Street's expectations for subscriber growth and beat revenue expectations. Still, Netflix stock stumbled when it forecast only slight gains in the third quarter as it expects the impact of coronavirus pandemic and shelter-in-place orders to fade.