Analysts says good things, Sony shares go up
Looks like some analysts got bitten with the common sense bug and decided not to join the Sony-bashing.
Goldman Sachs, a leading investment bank, said Sony’s going to be OK. The whole negative brouhaha about the European PS3 launch delay and the computer battery recall is coming to an end, and it’s time for investors to stop worrying about Sony’s strategy. Also, Goldman Sachs points out that Sony has many different businesses, so it’ll be fine.
This is nothing new. As we said as far back as October 15, all this “Sony is in trouble” end-of-the-world-ism just doesn’t make sense. As we said before:
- Sony Corporation (Soni Kabushiki-gaisha) had around 67 billion US dollars in sales last year.
- Sony Pictures Entertainment is the TV and film arm of Sony. Last year’s group sales were about 6.6 billion US dollars.
- Sony acquired Columbia Records, MGM, Columbia Pictures, and Aiwa.
- Sony holds (in part) United Artists Corporation, Orion Pictures, Merv Griffin Entertainment, and TriStar Pictures.
- Sony Ericsson, according to research consulting firm Gartner, is the fourth largest mobile phone maker in the world.
- Other Sony joint ventures include Sony BMG Music, Sony/ATV, S-LCD Corporation (with Samsung), ST Liquid Crystal Display Corporation (with Toyota), Optiarc (with NEC), and FeliCa (the standard method of mobile payments in Japan; Sony owns part of it).
Stop the Sony-bashing. Buy Sony. Earlier it was reported that Sony had suffered a 92% loss in profits, but now Sony is staging a comeback. Sony shares have closed 6.5% higher at 5,550 yen. That’s the single largest daily increase in more than a year, according to BBC News.
Looks like some analysts got bitten with the common sense bug and decided not to join the Sony-bashing.
Goldman Sachs, a leading investment bank, said Sony’s going to be OK. The whole negative brouhaha about the European PS3 launch delay and the computer battery recall is coming to an end, and it’s time for investors to stop worrying about Sony’s strategy. Also, Goldman Sachs points out that Sony has many different businesses, so it’ll be fine.
This is nothing new. As we said as far back as October 15, all this “Sony is in trouble” end-of-the-world-ism just doesn’t make sense. As we said before:
- Sony Corporation (Soni Kabushiki-gaisha) had around 67 billion US dollars in sales last year.
- Sony Pictures Entertainment is the TV and film arm of Sony. Last year’s group sales were about 6.6 billion US dollars.
- Sony acquired Columbia Records, MGM, Columbia Pictures, and Aiwa.
- Sony holds (in part) United Artists Corporation, Orion Pictures, Merv Griffin Entertainment, and TriStar Pictures.
- Sony Ericsson, according to research consulting firm Gartner, is the fourth largest mobile phone maker in the world.
- Other Sony joint ventures include Sony BMG Music, Sony/ATV, S-LCD Corporation (with Samsung), ST Liquid Crystal Display Corporation (with Toyota), Optiarc (with NEC), and FeliCa (the standard method of mobile payments in Japan; Sony owns part of it).
Stop the Sony-bashing. Buy Sony. Earlier it was reported that Sony had suffered a 92% loss in profits, but now Sony is staging a comeback. Sony shares have closed 6.5% higher at 5,550 yen. That’s the single largest daily increase in more than a year, according to BBC News.