Sony Shares Drop Sharply After Prediction PS5 Growth Has Peaked | Push Square
Sony shares plummeted by some 8.4% on Thursday, their sharpest drop in almost two years, following publishing the firm's latest quarterly financial results. The proclamation that PS5 has reached its peak and the prediction that it expects growth to decline gradually from here seems to have spooked some shareholders.
Bloomberg marked the sharp drop off, noting that the company closed the day's business down 6.5%. Sony had to decrease its console sale forecast, slashing its prediction by four million units to an expected 21 million by the end of the financial year. It's a stark reminder that no entity is truly safe from the effects of the currently volatile market. For example, today, Microsoft confirmed it would bring four previously exclusive games to PS5 but refused to say which ones. These are strange and unprecedented times, indeed.
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Are you surprised to see Sony's shares take a tumble? How low do you think they will go, or will they be buoyed by the promise of Xbox games coming to the platform? Make bold predictions in the comments section below.
Khayl Adam is the second best video game journalist Australia has ever produced, and his ambitions of world domination have (thus far) been curbed by the twin siren songs of strategy games and CRPGs. He has always felt an affinity for the noble dachshund, the best kind of dog.
Enough people will probably jump on this $8 dip to even it out somewhat tomorrow. I doubt there is any longterm stock effects of news from either platform this week.
Don't care....as long as I'm getting regular dosage of GRT games on the hardware.....
Plenty of great third party releases this year so I’m not worried.
After last night I don't think Sony will be too worried.
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