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Quickly and quietly, shares of glamour stock Netflix (NFLX - Analyst Report) have fallen nearly 20% from their 52-week high set earlier this month. The stock is still up slightly year-to-date, but shares are clearly in a downward trend:

It's tough to pinpoint a single reason for the selloff. There hasn't been any news over the last few weeks that would explain the move (other than recent reports about a potential Apple-Comcast joint streaming service; although shares had been selling off well before this announcement). Consensus earnings estimates have held up just fine. And there haven't been any notable analyst downgrades that I could find.

Netflix hasn't been the only glamour stock to take it on the chin this month either. High fliers like LinkedIn (LNKD - Analyst Report), Tesla (TSLA - Analyst Report) and Twitter (TWTR - Analyst Report) have seen double-digit declines over the last couple of weeks too.

Perhaps uncertainty overseas has led to a classic "flight to safety" among investors. Or maybe investors are finally starting to pay attention to the fundamentals again now that the Fed is unwinding its quantitative easing program and discussing a potential rate hike?

Even after its selloff, Netflix still trades at a lofty 76x 12-month forward earnings, which is well above its 10-year median of 36x. But there is some phenomenal growth projected for the company too. Based on current consensus estimates, analysts expect EPS to grow 99% this year and 78% next year.

So do you think the selloff in Netflix (NFLX - Analyst Report) will continue? Or does this pullback present a good buying opportunity for investors?

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