Monday December 4, 2023

Console Wars

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Sony
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Retailers sold out of both Sony’s PlayStation 5 and Microsoft’s Xbox Series X/S during their launches last week. Now, desperate gamers looking for a next-gen console are resorting to secondary markets like eBay, where the $500 systems have reached as much as $32,000

Official launch sales likely won’t be known until the companies’ next quarterly earnings reports, but Sony reportedly planned on making 5-6 million PlayStation 5 units in the console’s first two quarters. Microsoft historically doesn’t tout console sales, but estimates suggest 1 million of the new units were pre-sold leading up to the launch.

Sony stock is up 44% year-to-date and Microsoft stock has grown 34%.

Notable Earnings Reports This Week:

11/16 — Madison Square Garden Entertainment

11/17 — Aramark

11/20 — Foot Locker, Hibbett Sports

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