Nintendo Shares Rise On Sony Conference
Sony recently announced a price cut for the Vita and revealed the features and games of the PS4. Surprisingly, it seems that Nintendo is reaping the benefit of this news.
The day after Sony’s PlastationMeeting2013, Nintendo’s shares rose 2% in the US to $11.70 and 1.3% in Japan. Meanwhile, Sony’s shares dropped 2.7% in the US to $14.08 and $2.63 in Japan. So far today, Nintendo is up another 1.95% to $12.00 and Sony is down another .28% to $14.04.
Stock prices aren’t the be all end all for game companies, but this certainly is not the result Sony had hoped for. What explains this unusual trend? Personally, I think that there are two reasons. Firstly, Sony’s message on Wednesday was a bit jumbled. With all of the buzzwords spewing from the mouths of Sony executives, it was hard to get a clear idea of their vision for the console. According to Sony, the Playstation 4 is the “Genesis of an expanding idea of the future of play” and it’s hard to get any meaning through such dense wordage. There were some awesome things shown last night, but the overall message wasn’t quite there.
Secondly, I think people had impossibly high expectations for the PS4. Regardless of how good the PS4’s games looked, they couldn’t match the ones that existed in fans’ imaginations. Many were expecting the system to present a bigger leap over the Wii U than it actually did. After the conference, people may see the Wii U as more capable of competing with the PS4 than they had before.
Like I said, stock prices are not a definitive measurement of potential, and Nintendo’s shares also dipped after revealing the Wii U. Sony still has plenty of time to win back confidence between now and the PS4 launch. That being said, the next gen battles seem a little more interesting now.
Source: Nintendo Insider