Entertainment giant Walt Disney’s (DIS) shares have dipped in price since CEO Bob Chapek acknowledged recently that various challenges will lead to fewer new Disney+ users than expected. Can the stock recover by using its wide range of services and products? Let’s find out.Shares of the world’s largest entertainment company, The Walt Disney Company (NYSE:), have gained significantly over the past few years. Its solid stock price performance can be attributed primarily to the excellent performance of the company’s direct-to-consumer business—with a total of nearly 174 million subscriptions across Disney+, ESPN+, and Hulu at the end of the third quarter—and a host of added content on each platform.

However, DIS CEO Bob Chapek recently said that the new Disney+ subscribers in the current fiscal year might be in the “low single-digit millions,” because it faces stiff competition from other players such as Netflix Inc. (NASDAQ:) and Apple Inc. (NASDAQ:) in the streaming space.

The stock has declined 4.7% in price over the past six months to close Friday’s trading session at $176. The stock is also trading 13.3% lower than its 52-week peak price of $203.02 which was reached on March 8, 2021. Furthermore, the rising COVID-19 cases owing to the rapid spread of the Delta coronavirus variant make the company’s near-term outlook uncertain due to capacity limitations and production delays.

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