Anyway I received this news blurb in my e-mail.
*Sony returns to profit*Sony Corp., the world's No. 2 consumer electronics maker, reported a quarterly profit of $277 million, after a loss a year ago, as it trimmed losses from its PlayStation 3 video game business. For the full fiscal 2007, Sony posted a better-than-expected profit of $3.5 billion, a record for Sony. (AP in CNNMoney.com ) However, Sony had an unexpected operating loss of $45 million in the quarter, amid losses in its financial services unit. (Reuters ) A forecast of 20 percent growth in operating income this year, including profitability at its PS3 division, sent its stock up early today. "I don't think we have to worry about Sony's game business anymore," said Naoki Fujiwara at Shinkin Asset Management. (Bloomberg )*
Isn't that what I said a few weeks ago? ("I don't think we have to worry about Sony's game business anymore")
Anyway, Here is another article.
Sony Returns to Profit, Lifting Shares
This one isn't as good and shows that Sony is struggling with swings in currency values.
Sony has 4Q profit, but expects decline this year
The analyist target estimate shown on yahoo shows a price target of 75. The price today is sitting at 49.39 with a lot of room to go. If you are going to get in you just missed one of the biggest jumps we are going to see for a while, but I expect it to continue to climb as the PS3 finally starts gaining ground. It really is an amazing piece of hardware and it is nice to finally see some games that can take advantage of it. Pair that with the fact that it is also the next generation DVD player called BlueRay (HD-DVD is now officially dead) and it is a double home run for Sony.
Watch for the next big jump when we see an increase in PS3 sales caused by the recent release of GTA4, then in June when Metal Gear Solid hits expect and even bigger increase in PS3 sales. Also, there are a bunch of blueray licensees waiting in the wings. Come on people, this isn't rocket science...
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