CNBC's Jim Cramer believes Netflix 's innovative use of artificial intelligence (AI) in its ad-supported tier is a game changer, positioning the company far ahead of its competitors.
"Netflix is so far ahead of everybody else," Jim noted, adding that the Street's enthusiasm for Netflix stock on the back of Thursday's beat-and-raise quarter is largely driven by its success in AI-based advertising.
Netflix's AI advantage, Cramer highlighted, is why investors are willing to pay up for the stock.
He set a $1,000 price target on the stock, which implies a 30% upside from Friday's intraday high of roughly $763.
Looking ahead, co-CEO Gregory Peters stated that advertising would become one of Netflix' key growth drivers during the company's post-earnings webcast Thursday.
Persons:
CNBC's Jim Cramer, Jim Cramer, Jim, Cramer, Gregory Peters
Organizations:
Netflix
Locations:
Thursday's, United States