Netflix (NASDAQ:NFLX) bull Whitney Tilson believes the Internet streaming giant could be undervalued by a huge factor if you think about it in terms of the world of cable companies, where competitors trade at $1,000 per subscriber. At current levels, Netflix trades at about $440 per subscriber, inviting the possibility for more upside to come if investors follow this logic. However, to compare Netflix to competitors in this way may not be a sensible approach. In this video, Fool contributor Steve Heller weighs in on the issue and why he thinks that Netflix probably shouldn't be valued this way.

Fool contributor Steve Heller has no position in any stocks mentioned. Erin Miller has no position in any stocks mentioned. The Motley Fool recommends and Netflix. The Motley Fool owns shares of and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.