Netflix Inc. (NFLX♋), which has little exposure to China, may become a surprise safe haven of the U.S.-China trade war as it fares better than many tech stocks. One reason is the on-demand streaming giant is growing rapidly in countries around the world outside of China, including India, the world's second most populous nation. This🍌 is buffering the stock now and may make it even more attractive as the trade war drags on.

Netflix is still up 32% this year, way ahead of the major indexes and most of its fellow FAANG member stocks. The streaming giant is one reason that investors have not completely abandoned tech stocks even as they have bulked up on defense, utilities, real estate and staples amid the trade tensions, according to , which says investors appear to still like tech, but not hardware tech companies. That's why Netflix has held up relatively well while hardware stocks exposed to China have plunged dramatically, such as Apple (AAPL) and the chip stocks (SOXX), including Broadcom Inc. (AVGO).

Rapid Global Growth

To be sure, Netflix's stock has pulled back this spring on more than trade concerns. The company is facing the prospect of heated competition in the streaming space, with Apple announcing its own subscription service earlier this year and other deep pocketed companies like Walt Disney Co. (DIS) and Amazon.com Inc. (AMZN) adding content.

But Netflix is posi🌸tioned for global growth perhaps better than any rival. Imperial Capital analyst David Miller, who rates Netflix stock at outperform, notes that its programming created in foreign markets is working to lift viewership both abroad and in the U.S. “Too many media investors think of Netflix’s international business as simply U.S. content that is dubbed in various foreign languages, but in many cases the inverse of that is starting to take hold,” wrote Miller. This means that while Netf💟lix stock has defensive appeal in the short term, it also offers growth. Miller expects Netflix to gain near 32% to $463.

Asia Viewers

Netflix also is making headway in India, the world's second most populous nation with more than 1.3 billion people, four times bigger than the U.S. and not far behind No. 1 China. In India, Netflix now has 20 local languag🎀e original films and 12 original series produ♓ced in the subcontinent, per .

Looking Ahead

The streaming giant also is expanding its footprint in Japan, where it has reportedly moved into fifth place and “appears on track to continue surging, says RBC Capital M꧑arkets analyst Mark Mahaney, per MarketWatch. His price price target for Netflix is $480, a 37% gain fro🌄m today.