>>>I even passed on SNE back @ 240 and they have a split coming....<<<
Well, it's a good thing...You can have those high flyers! O'Choppy Days.....looks like our little correction is going to last a little while?
FOCUS-Sony sends rare 'bubble' alert on shares
(Updates with market close, analyst comment)
By Yuko Inoue
TOKYO (Reuters) - Sony Corp's president Nobuyuki Idei told Reuters on Thursday that his company's shares were overvalued, unleashing a ''Sony shock'' slide in Japan's high-tech sector and helping take the entire Tokyo index lower again.
The outspoken Idei said that 20,000 yen ($192) was an appropriate price for his company's stock, given its current earnings levels. Anything above that would be ''a bubble,'' he added. On Thursday, Sony was trading around 25,700 yen.
''When our earnings levels are considered, the appropriate price would be about 20,000 yen. Above that would be a bubble,'' he said when asked what an appropriate share price would be for Sony, viewed here as one of the bluest of Japan's bluechips.
Sony's shares, which were already in a short-term downward correction due to the sagging U.S. stock market, collected massive sell orders after Idei's remarks hit the market and remained ask-only through the afternoon session. |
