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Roku Ain’t Broku, Just a Tad Overvalued

Roku (NASDAQ:ROKU 126.25 -0.24%) is a name effectively synonymous with streaming. Controlling approximately 39% of the streaming box market, according to data from Parks Associates, it’s the clear leader in the sector, and when combined with Amazon Fire TV, the runner up, it accounts for almost 70% of the installed base of streaming media players in the United States.

 

Roku has had a whirlwind year. As a proxy for the health of the streaming market, it’s up approximately 175% since the end of January 2019 as consumers cut the cord and move towards streaming. But the company has had other kinds of ups and downs throughout the year. When Apple (NASDAQ:APPL) announced its aggressive Apple TV+ pricing, Roku’s stock plummeted almost 30% throughout September as investors wrongly thought that Apple TV+ would be a walled garden exclusive to iOS -- when in fact it’s available on all platforms.

 

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