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Tech stocks: Sony shares rise with PS4 launch looming

Shares of Sony have jumped nearly 3% in pre-market trading Tuesday, as the electronics giant gets ready to launch its long-awaited PlayStation 4 video game console.

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usatoday.com
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Destrania984d ago

This kind of seems like a new beginning for Sony. Rise!

decrypt984d ago (Edited 984d ago )

Well shares of pretty much every company are rising, but thats not because of good economy or fundamentals.

Its more to do with the Federal Reserve devaluing the USD and printing 85billion of them to prop up a phony economy. Which is causing newer highs in equities.

This is a bubble and will eventually collapse leading us to a depression that will make 2008 look like a sunday picnic.

People need to wake up and do some research.

adorie984d ago (Edited 984d ago )

I'd like some of the disagrees to state why they disagree? That is exactly what is happening.

But, that aside, Sony stock is probably riding a momentum of the launch of a new product (ps4)

Monolith984d ago TrollingShow
torchic984d ago

@adorie

decypt is a known troll, even if the PS4 sold like a gazillion units in one day and cured cancer and reversed global warming while PCs became obselete he'd still somehow spin to make it seem like the PS4 is a bad console and it's in trouble from PC gaming.

haven't checked the news yet, but when I do I'll come back and click agree/disagree (Sony stock IS probably on the up because of PS4 so expect a disagree)

BarneyS984d ago

@torchic

Maybe he's trolling, and in this case i do believe that stocks are going up because of the PS4 launch.
But, it is true that the Federal reserve is pumping $85 billion a month(!) into the US economy. Yesterday i read that stock value has doubled since 2008, that didn't happen because of healthy sustainable economic growth...

decrypt984d ago (Edited 984d ago )

@torchic

Unfortunately Speaking the truth on N4G = to being a troll (basically anything against Sony) lol.

Why do you think Sonys shares should go up at the release of the PS4?

Its not like PS4 will be profitable for some time to come. Hell even the most popular Sony console ever released PS2 was in a loss for the first 2 years.

PS3 was in a loss at least 4-5 years into its life time.

Hence how does the PS4 coming in change any financial fundamentals for Sony. Infact PS4 will just be a burden until the point it has a reasonable base. Sony knows this and the investors know this. PS3 will be a cash cow. PS4 will be sold at a loss and will likely start becoming a cash cow 2-3 years into its life.

Stocks for pretty much every company are going up not just Sony. Thank the Federal Reserve. Lol i wouldnt be surprised when the next Fed chairman comes in by march 2014 they up the size of their program which is currently at 85 billion usd, which will further infalate the bubble. Stocks will carry on going up, however that is not a true indicator of company performance or confidence any longer. Sorry you can thank the Fed for distorting the markets.

+ Show (2) more repliesLast reply 984d ago
ZBlacktt984d ago

They about to move 1.5 million units.

yellowgerbil984d ago

I would say at least 2 maybe even over 3. In a article yesterday there was moment where they hinted that they may have over 3million preorders.
paraphased
Q You forecast 3mil sold by years end is that feasible
A that hurdle has been cleared

even if they only have 1.5 mil preorders I am betting there is going to be at least a .5 mil on store shelves too

JimmyLmao984d ago

and they are selling the PS4 at a slight profit in most countries other than USA

RPG_Lover984d ago

Means nothing, they all do, and then they fall

DCfan984d ago TrollingShowReplies(2)
MASTER_RAIDEN984d ago

good to hear. i know this is mostly a temp thing but hey if the ps4 remains a success throughout (and they're off to a very good start), let the good times roll man.

jackanderson1985984d ago (Edited 984d ago )

it's probably more to do with the fact their Q2 report got released last night and it's better results than last year

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