Sony shares are sitting at their highest level since June 2001, in spite of a dip on Wednesday. Experts state there could be further benefit in the next year as Sony prepares to release the flagship PlayStation 5 games console.
The Japanese electronic devices huge posted better-than-expected profits on Tuesday for the April to June quarter and provided an outlook ahead of consensus.
On average, experts polled by Refinitiv expect Sony shares to strike 9,538
Sony’s 19- year high share price is a vote of self-confidence by financiers in the multi-year turn-around plan that was initiated by previous CEO Kazuo Hirai. Hirai took the function in 2012, and was been successful by Kenichiro Yoshida in 2018
PlayStation 5 on the horizon
Under the two CEOs, Sony has put a large emphasis on its gaming department. In Sony’s fiscal first quarter that simply ended, the business’s game and network services unit accounted for about 54%of overall operating earnings.
Sony forecast a modest year-on-year