Piper Jaffray Sees Negative Outlook for Netflex (NFLX) if Apple Offers Movie Rentals on iTunes
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Piper Jaffray commments that movie rentals on Apple's (NASDAQ: AAPL) iTunes may have negative long term effects for Netflex (NASDAQ: NFLX). The firm said, "We believe the competitive landscape in online distribution will have virtually no impact on Netflix over the next 2-3 quarters, but if iTunes jumps out to an early lead in this market, it could make it more difficult for Netflix & other players in coming years." The firm has a Market Perform rating on Netflex.
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