Sony executives had a reason to smile today. The company's stock rose 3.7 percent today on the Tokyo Stock Exchange, closing at 4,760 yen (around $39.79). The sturdy rebound came after a bullish note to investors from Morgan Stanley analyst Masahiro Ono, who raised Sony's rating from "equal-weight" to "overweight" and increased its 12-month price target 300 yen to 5,900 yen (around $49).Today's rally made up for the 3.6 percent drop Sony shares saw last month, which included a one-day drop of 2.75 percent. That fall was prompted by two other analysts downgrading Sony's stock. One analyst also cited reports of PlayStation 3 malfunctions at the 2006 Tokyo Game Show as a cause for concern, though Sony quickly proclaimed the next-gen console does not have an inherent overheating problem. The one-day drop also came after a spate of grim news for Sony, which was forced to recall approximately 8 million lithium-ion laptop batteries last month. Almost simultaneously, the company drastically reduced the number of PS3s available for its US and Japanese launches in November and delayed the next-gen console's European release until March 2007.
LOL www.eurogamer.net/article.php?article_id=68372 "Sony denies PS3 overheating problems. Worked 'flawlessly' at TGS." The pictures on kotaku of guys using 30cm fans to cool PS3 are MIRAGE. www.kotaku.com/assets/resources/2006/09/powered_by_namco.jpg @mirage is of course from heat - no not from PS3 units no no ,it's from standing near X360's :) www.kotaku.com/gaming/xbox-360/ps3-overheating-problems-204897.php www.kotaku.com/gaming/ridge-racer-7/tgs06-ridge-racer-7--too-hot-for-tgs-202609.php www.kotaku.com/gaming/sony/tgs06-armored-core-4-is-a-real-system-crasher-202827.php PS3 stand: *This is not the overheating console you're looking for. Move along!* PS3 *does not overheat* that why it need extra cooling: www.kotaku.com/gaming/intercooler/xbox-360-intercooler-comes-to-ps3-205242.php www.kotaku.com/gaming/sony/sony-says-what-ps3-overheating-problem-205382.php -------------- Tomorrow there will be annoucement that Sony bateries DO NOT explode: www.theinquirer.net/images/articles/dell%20banger1.jpg
On one hand, the PS3 will get some good PR from selling out all systems on release day. On the other, it'll get slammed for not having enough systems to meet demand. Destined to be a 'boutique' status symbol item this Christmas regardless, the media/sports stars/rappers/music awards etc. will provide ample exposure for the console either way, and casuals won't be very aware of the stock or manufacturing problems.
"Good for Sony. I also hope they have another 5 more years of domination. Anyone but Nintendo. " Please explain why you said that.
This is cool. I love this site. Being that Microsoft owns this website. Hence the baise. PS3 all the way. I couldn't give a crap what www.gamespot.com thinks. uken TOOLS.
nappan: "Uh, no, a 3.7% rise on an upgrade is fantasitc. This isn't a fanboy issue, it's economics. Grow up." Any one-day change - up or down - means nothing "economically." You can't spot a trend in a day's trading. It's people who base their decision-making on figures like these that lose money for themselves (and make money for the more intellignet investors)
Bathyj Can someone please tell me why ANALYSTS have this sort of power over Mutli National Corparations and the 1000's of people that work for them? These guys fire off flippant OPINIONS and it acually affects millions of dollars worth of stock. Unbelievable ----------------------------- because they don't have that kind of power technically its not like THEY cause the stock to go up and down. they spout their opinion, ppl believe them, and general public reaction causes it to go up and down. they have about the same kind of power game reviewers have. game reviewers don't directly cause anything to sell good or bad. They just spout things. its people that take their word as gospel that cause things to happen.
To GrimBee Are you saying that things that can do a lot are bad then? To me, competition makes it better for us consumers. While the companies duke it out over whos equipment is better, we end up getting the better things from them.
That's all good but since no one will buy the system in Japan until March of next year I can't see how it could actually be good for their "shares".
More Gamespot hype for Sony. The stock increase was because of Sony Ericsson having another record quarter. Story is on the right sidebar under Music News at mp3.com. Maybe if they wanted to promote the PS3 they shouldn't put the other article on the same page.
Can someone please tell me why ANALYSTS have this sort of power over Mutli National Corparations and the 1000's of people that work for them? These guys fire off flippant OPINIONS and it acually affects millions of dollars worth of stock. Unbelievable
ofcourse there stock went up its because gamespot's pre-orders all have been sold, thease anal-lists dont know a thing about gaming there a machine all thay know about is numbers and thay give everybody a wetherman forcast that everybody knows ahead of time
It has already been proven on The 1up Yours podcast at 1up.com that at this years TGS the PS3's were contained in plastic cubes that were attached behind the demo kiosks without any airholes. Plus the thousands of attendee's that arrived at the event didn't help either in terms of body heat.As for the laptop batteries it's unfortunate. With that I can understand the stock dropping. It's good to hear that Sony made a good rebound.
legs1986 i didnt mean to say that they should mention it iwithin this particular story, but did you see any mention of wii sell out ANYwhere on the site? didnt think so. thats the doublestandard i was talking about
Hooray for Sony!!!! This doesn't mean a thing as far as my life or your lives are concerned, but it makes us all feel a little better about our decision to buy a PS3.
"Konfusion It's still looking very crappy for SONY. " Uh, no, a 3.7% rise on an upgrade is fantasitc. This isn't a fanboy issue, it's economics. Grow up.
OK. But one thing here reminds me of something very unnerving in regards to Take-Two, which is how the many investors come to blindly follow an analyst(s)' report. For example, Take-Two's stock has been dropping to almost half of its former price level, just coz of the stupid lawsuits (A Government wanting to ruin a great game company AND one of their own, how pathetic), and wimpy losers (analysts). I was so shocked many times over & over at how the analysts concerned could not have put enough trust into one of my favourite and still one of the greatest game publishers in the world!
here comes gamespot's latest spin to turn sony's bad news into good I also dont see any news of the wii pre order sell outs either hmmm gosh could it be that gamespot's ....... biased?! omg who'd have thought that?:O Um biased or not; it's an article about SONY'S STOCK. Why the hell would they mention Nintendo pre-orders in an article strictly about SONY'S STOCK PRICE. There is no spin to turn bad news into good; a 3.7% increase is very good, same as the 3.6% drop was very bad. They made notes on both.
As soon as hddvd gets it tripple layers thing done, it will be ANOTHER slide. Slide slide slide. Nintendo are safe, because they arent competing they are just providing. If they were competing, they would be offering very similar products. Sony with the psp is competing with the likes of the ds (market wise) and the ipod (as a media player). When the ipods game service launches, it will take away some of the potential psp crowd. As you can get a hefty ipod video for the same price as a value pack psp! If sony werent so hell bent on making an industry their own, they wouldnt have these slides and boosts. Sony need to keep consistent. But they try so hard at trying to win all the time, its insane. Nintendo just said "lets go another way" and are hugely successful again with the DS. The psp is just a symbol of sony's NEED to dominate in EVERYTHING electonic. From media formats, to pc's to cpus to walkmans, to consoles to tvs... etc etc etc. If they just offered a great products, not in direct competition with anything all the time, we as consumers would benefit from the clearer choice and direction of their products. I for one am a bit sick of buying a new mp3 walkman, only to have that SAME model removed from production a year later! And i hate having to buy memory sticks for my psp and sony camera (two different card types i might add) and then having to use SD cards in all my other stuff (from pda to my OTHER digital camera..)
"Cant wait to slide resistance in to my PS3. There will be a 3.7% rise in my hair" Coupled with the words "slide....in to", i'm glad you said "hair"
here comes gamespot's latest spin to turn sony's bad news into good I also dont see any news of the wii pre order sell outs either hmmm gosh could it be that gamespot's ....... biased?! omg who'd have thought that?:O
What a waste news , sony's stock went from down to up were suppose jump up and start dancing or try find a place to get a ps3 pre-order.I got news for you sony fans and I want to be perfectly clear on this: I'TS A Damn STOCK PRICE PEOPLE , stocks go up and down all the time .Any company such (ex:like Gamestop , Bestbuy , Circuitcity ,Walmart , Target, even Microsoft and Nintendeo's stock go up and down all the time , it means jack **** feel sorry for anybody that would read a stock price and say hmph I have to go get this system because there stock price has gone up , or Ps3 will dominate just because the stock price went up , give me break.
Proof that the stock market should have nothing to do with system wars. All the fanboys that come in and cheer when Sony's stock drops should realize that they will get severely owned 72 hours later. And vise versa. Damn fluctuations.
just goes to show you how completely emotion based and reactionary the markets are. A month before the thing is actually released, a negative review of Sony's future caused a huge drop and now someone comes out with an opinion that they'll probably be fine and thier stock rises.
man if only the ps3 didn't cost a whole month of rent. it doesn't matter cause im 4th on the list baby. and there's going to be some ownage in RFOM. prepare noobs cause your days are numbered. muahahahah