Member Since: 8/20/2011
Posts: 12,590
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Microsoft stock falls, Sony rises from Xbox One reveal
Quote:
Late Tuesday morning, Microsoft unveiled its much-anticipated replacement for the aging Xbox 360 video game console. Called Xbox One, the device was demonstrated as an all-in-one home entertainment hub that ties gaming, television and movie viewing, and communications all into one device. For the most part, gamers seemed cautiously excited by the news. Investors, however, don't seem so optimistic.
Microsoft's stock (MSFT) began the day at $35.17 per share, spiked briefly at $35.25 shortly after the opening bell, but fell throughout the day. Shortly after 10am Pacific Time, the company unveiled the new console, causing shares to spike upwards to $34.94 - more than a quarter-dollar below the day's opening stock price. Less than two hours after the reveal, the stock hit a new low for the day at $34.74. Come day's end, Microsoft's stock settled at $34.85 a share for a loss of 0.66%.
Surprisingly enough, competitor Sony (SNE) saw a near-immediate rise in the value of its stock once Xbox One was announced. With its own new gaming console, PlayStation 4, expected out near the end of the year, Sony's stock price - which had been holding steady for the day at around $21 per share - quickly jumped upwards of $22.28 and crept higher still come shortly after the end of Microsoft's hour-long reveal. Come the closing bell, Sony ended with a gain of 9.25%.
Nintendo (NTDOY), which released it's own "nex-gen" console in November of last year, saw its stocks remain mostly constant throughout the day after an initial boost earlier in the day. Its own stock, which rose slightly upon Xbox One's reveal, also ended the day in the black, closing at $13.99 for a gain of 2.57%.
More information for Microsoft's Xbox One and Sony's PlayStation 4 are expected to be revealed next month during E3.
Source: http://www.news10.net/news/article/2...box-One-reveal
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The Xbox really was the only thing that Microsoft had going since it's losing to Apple. They really ****ed up by making the Xbox One so inferior. You know it's bad when you make a huge innovative announcement and your competitor comes out with a better outcome.
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