This is BX @ Boxden.com


Sony’s PlayStation 4 event helps….Nintendo?


 Sony’s PlayStation 4 event helps….Nintendo?
topic by mystic boy - 02-22-2013, 05:58 PM - Boxden > BX GameSpot


Whether based on reactionary headline trades or disappointed gamers, Sony’s big announcement of the PlayStation 4 console late Wednesday gave a boost to the shares of its more troubled rival Nintendo.

The two stocks traded in opposite directions on Thursday. Sony’s SNE U.S.-listed shares were down
2.7% to $14.08 by midday, with Nintendo’s NTDOY U.S. shares up
2% to $11.79. Earlier trades on the Tokyo market followed the same pattern, with Sony JP:6758
-2.55% slipping about 1.8% by
the close of that session, and Nintendo JP:7974
+0.34% gaining about 1.3%.

What gives? Sony hosted a high-profile event in New York City on Wednesday night to introduce the PlayStation 4. But while the company spent two hours discussing the new capabilities of the console and the games that would be developed for it, the device itself was never shown, leading many to speculate as to what the company is currently keeping under wraps.

Though both are rivals in the videogame market, Sony and Nintendo also have many differences. Nintendo is mostly dependent on its console and games business, while Sony is far more diversified across the consumer electronics spectrum. And Nintendo has tended to appeal more to the family and casual gaming crowd, so the launch of a new PlayStation wouldn’t necessarily k!ll off demand for its own new Wii U console that hit the market in November.

But both are also going after a market that has been hammered by the emergence of smartphones, tablets and social gaming. Nintendo has struggled to sell the Wii U since its launch, leading the company to cut its sales forecast for the year. And while analysts say they liked what they saw from Sony on Wednesday night, many questions remain unanswered, such as what the new PS4 will cost when it finally comes out this holiday season.

It’s possible that Thursday’s trades are a mix of profit taking and hedging. Sony’s U.S.-listed shares have jumped more than 30% over the last two months in anticipation of the new console. Nintendo has lost about 30% since the launch of the Wii U in mid-November.

– Dan Gallagher
Sony's PlayStation 4 event helps....Nintendo? - The Tell - MarketWatch


Latest Games Hot Topics »   share this topic »   Share this on Twitter Share this on Facebook

4 comments for "Sony’s PlayStation 4 event helps….Nintendo?"


 02-22-2013, 06:27 PMaway - #2
UrbanGAAWD 192 heat pts192

  d 
space
$6,340 | POWERFUL
Just wait til the summer when the next Xbox and ps4 are on full display and every game blog/site/podcast and magazine talks about them instead of 3rd place wii u
 02-22-2013, 07:16 PMaway - #3
jhj26 27 heat pts27

  d 
space
$13,638 | POWERFUL
nope, nintendo better take that quick money and run
 02-23-2013, 12:07 PMonline - #4
WCIB 94 heat pts94

  d 
space
$13,546 | POWERFUL
Sell high ni##as!
 
 


Go Back   Boxden.Com - Stay First. Follow BX. > BX Table Of Contents > BX GameSpot
    
         

 



Latest hot topics on fire the past 48 hrs
Image inside  Pretty Brazilian Model Daiane Sodre
60 comments
Two Years Later: Joker or Bane?
56 comments
GTA V For PC ‘Cancelled’?
96 comments
 NBA Why 1-3-1 Defense Has Been Removed From Nba 2k15
New reply 2 minutes ago - 99 comments - by Hovi Bryant
  Bobby Shmurda Knocked For Gun Possession & Can Be ...
New reply 14 minutes ago - 147 comments - by J Money 95
 NBA Nba Player Rap Counterparts?
New reply 5 minutes ago - 68 comments - by MrHashTag
 Image(s) inside Beyonce's Father Confirms Solange-jay Z Lift Attack Wa...
New reply 25 minutes ago - 106 comments - by Sniggit
 Video inside Snoop Done Lost His Mind
New reply 8 minutes ago - 65 comments - by Bea5T
 Image(s) inside G-unit "the Beauty Of Independence" First We...
New reply 28 minutes ago - 73 comments - by Avon_Barksdale
  Jeezy Is Released From Jail.... Info
New reply 8 minutes ago - 76 comments - by YoungFather
 Article inside Joe Budden Tweeting From Jail. :deadpg:
New reply 30 minutes ago - 93 comments - by Yung Dilla

Like BX on Facebook Follow BX on Twitter
5,766 fans of BX | none new today 4,746 following | none new today

hot topic blog   »    hip-hop   |   sports   |   movies   |   games   |   news   |   wild'ish   |   gear   |   rides   |   tech

contact us   |   mobile   |   privacy statement

© Boxden.com. 1998 - end of time.