Netflix: Still A Hot Tech Play Or A Media Stock That Acts Like Tech?

Netflix's (NFLX) whopping $6 billion content budget for 2017 may resemble a young tech company's strategy for growth before profit.

But its Hollywood spending spree — like a reported $120 million budget for "The Get Down" and a $40 million price tag for two Chris Rock specials — has trained a glaring soundstage Klieg light on what could be Netflix's emerging identity crisis.

"This is just idiotic," Wedbush analyst Michael Pachter told Investor's Business Daily. "What's the...

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