Sony (SNE) Stocks Shoot Up 9%, Investors Unimpressed with Microsoft's Xbox One
The New Xbox One was released today but investors were not impressed as stocks of Microsoft and AMD remains the same while Sony enjoys a 9% increase in stocks.
Wall Street was not too happy about the newly released Xbox One as Microsoft stocks fall to .66%. On the other hand, news of a possible spin-off has boosted the shares of Sony just after Microsoft revealed its answer to Sony's newest Playstation 4.
The Xbox One has an impressive list of new features to offer gamers including Skype group video chat, voice command, live television, better hardware and graphics plus a more sensitive Kinect sensor. Microsoft has a strong collaboration with Electronic Arts (EA) while top director and producer, Steven Spielberg, is involved with the Halo TV series.
Microsoft also announced exclusive downloads for the latest version of the game, Call of Duty. All these hardware and software updates unfortunately didn't convince investors to bet on Microsoft.
The Xbox One obviously does not have one killer feature over Sony's PS4 and integrating live TV involves a lot of complexities. These factors greatly contributed to the flat movement of Microsoft's shares. AMD, the company that makes the bits inside the Xbox One also experienced downfall in today's market trading with a 1.95% decrease. Both companies were on the rise especially at the start of this month until today's announcement.
On the other side, Sony gained $1.94 or 9.25% on its share price. Sony is on track to spin-off its entertainment department according to Nikkei. Sony did not remain quiet while Microsoft was preparing its big announcement. The company launched ads on social networks, Facebook and Twitter, about the upcoming reveal of the latest gaming console, the E3. The E3 press conference is schedule on June 10. A teaser video can be found on Youtube and Sony's website.