Netflix stock has been nearly unscathed by Trump tariffs. Some think it could be Silicon Valley’s version of Johnson & Johnson

• Consumer staple stocks tend to perform well in a recession as customers continue to buy essentials. While Netflix could see its subscriber numbers drop during a downturn, some bulls suggest the streaming service might be one of the last things people are willing to give up when their wallets get lighter.

President Donald Trump’s chaotic tariff rollout has wreaked havoc on the stock market, but an investor all-in on Netflix might not have noticed. While the benchmark S&P 500 index has fallen over 10% this year...