by winston » Fri Nov 06, 2020 9:27 pm
not vested
AT-HOME ENTERTAINMENT CONTINUES TO THRIVE
Today's company does well as people continue to stay at home...
As regular readers know, many market sectors have suffered as people stay home during the pandemic. With video games, it's the opposite...
Not only are people finding video games to be a good source of at-home entertainment, but they're using them as a way to stay connected with family and friends. And that's good news for today's company...
Sony (SNE) is a $110 billion entertainment titan. While the company's many segments include music and electronics, Sony may be best known for its PlayStation gaming platform.
As with other video-game makers, demand for Sony's games soared during the pandemic... In the most recent quarter, its profits more than doubled year over year – hitting $4.4 billion. And with the new PlayStation 5 console due out next week, this success should continue.
As today's chart shows, SNE shares have been in an uptrend over the past few months. They're up nearly 70% from their March lows and recently hit a new multiyear high. As the pandemic continues to push people indoors, demand for Sony's products should remain strong...
Source: Daily Wealth
It's all about "how much you made when you were right" & "how little you lost when you were wrong"