Shares of The Walt Disney Company (NYSE:DIS) have absolutely soared over this past year.
In fact, shares have more than doubled since March 2020 lows, and continue to break new all-time highs on what seems like a daily basis. Many may be wondering how high this stock can ultimately go, and concerns are starting to rise about how richly valued stocks like Disney are right now.
Yes, theme parks continue to be closed. The company’s hotel, cruise lines, and travel related businesses are taking a beating. That said, investors seem to be focused on only one line of business for Disney – the company’s Disney+ streaming platform.
Last year, the company unveiled some pretty aggressive targets with expanding its Disney+ offerings. The growth investors have seen in this segment has propelled optimism about the long-term competitiveness of Disney in the world of streaming wars.
It’s expected Disney could show total subscribers close to 100 million next quarter, blowing away initial expectations for this service, and providing a tremendous amount of momentum as a newfound technology stock to watch.
Indeed, Disney has been on my watch list for a long time. The rise of the company’s streaming prowess is a welcome catalyst. I think this is a great stock with a world-class brand providing investors with a healthy moat, or durable competitive advantage. Accordingly, I’d recommend investors keep this stock on their watch list over the long-term.
Invest wisely, my friends.