Netflix is the best stock to withstand an economic slowdown, according to buyer Josh Brown. “I’ve come to the conclusion that not only is it on the list of best stocks in the market quantitatively, I actually think it’s the best stock in the market for this year,” the Ritholtz Wealth Management CEO said Tuesday on CNBC’s ” Halftime Report .” “That doesn’t mean I think it’ll go up the most, but I am not on the hunt for the hardest-hit stocks to try to bottom fish,” he continued. “I’m looking for resilience because I think in a defensive bear market, that’s the No. 1 quality of the stocks that by year-end will have performed the best.” Brown, who had bought Netflix after dumping shares of Google parent Alphabet , expects the streamer is a defensive pick following a tumultuous rollout of President Donald Trump’s tariff policy that has more strategists certain the U.S. is headed for an economic slowdown . The streaming stock has already shown resilience this year, up more than 10%, whereas the S & P 500 is down more than 8%. On Tuesday, Netflix shares were up nearly 6% in afternoon trading. NFLX 1D mountain Netflix There are other reasons Brown is confident in the stock, citing a report in The Wall Street Journal that showed Netflix executives are confident in the streamer’s future growth prospects, even as it withstands continued market volatility. The Wall Street Journal, citing people who attended the company’s annual business review, reported the company’s executives are planning to achieve a $1 trillion market capitalization, something done by just a handful of public companies, and roughly double its revenue by 2030. Netflix currently has a roughly $400 billion market valuation. “I think that this is the most defensible technology company, almost to the point where it’s a consumer defensive stock. I don’t think this is the type of service that anybody cancels, and even if they’re thinking about canceling, the lower-priced, ad-supported tier will catch those people,” Brown said. “And actually what’s interesting is, Netflix makes more money from the ad-supported tier than they do from a premium-tier household.” “I don’t think it’s necessarily a cheap stock at today’s price. Obviously, Alphabet is cheaper,” he continued. “I just think it’s going to act more defensively and has way more potential upside.” Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange!| Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
