Sony anticipate to sell 1 MILLION PSII between March, 4 and March 6, 2000. Not so bad
quote.bloomberg.com
Sony Rises to Record on PlayStation 2, Forex Steps (Repeat)
Tokyo, Sept. 21 (Bloomberg) -- Sony Corp. shares rose 4.8 percent to a record on optimism earnings will be boosted by its PlayStation 2 game machine and steps in Japan to rein in the yen.
Sony, the world's No. 1 maker of video-game consoles, rose 790 yen to 17,250 yen. About 4.75 million shares changed hands, more than three times the average for the past six months. Sony was the most active company by value.
Sony's shares have risen 16 percent in the five trading days since the company unveiled its next-generation PlayStation 2 on Sept. 13. The machine, which will play existing software as well as music CDs and movie DVDs, will be released in Japan on March 4 and the rest of the world by the end of 2000. Sony expects to ship 1 million units in Japan in the first two days after release. ``The majority of what's happening is optimism over PlayStation 2,' said Lisa Spicer, an analyst at WestLB Securities Pacific Ltd. ``It's going to be the future for digital entertainment.'
Sony is looking to trump rivals Nintendo Co. and Sega Enterprises Ltd., which released its new Dreamcast system in the U.S. on Sept. 9. Analysts say the PlayStation 2 bodes well for Sony's future. ``Traders who are buying shares are counting on growth in PlayStation business three or five years from now,' said Kazuharu Miura, an analyst at the Daiwa Institute of Research who rates Sony's shares ``buy.' ``PlayStation 2 will also let Sony tap into a totally different source of income.'
The company said it will start an online service enabling PlayStation 2 owners to download digital versions of music, software and movies in 2001. Though details of the service are still to emerge, Miura said the idea has the potential to provide Sony with a good source of revenue." |
