Netflix (NFLX) Lower Ahead of Apple's (AAPL) WWDC

Shares of Netflix, Inc. (Nasdaq: NFLX) are lower ahead of Apple's (Nasdaq: AAPL) WWDC as traders fear a new competing service.

Shares are down 2.5% ahead of WWDC, which kicksoff with a keynote from Steve Jobs at 1PM ET.

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