WSJ: Strong PS3 projections makes Sony stock a bargain

March 12th, 2008, 20:03 Posted By: Shrygue

via Joystiq

Just as every cloud has a silver lining, every drop in stock value hides within it an opportunity for profit. At least that's what the Wall Street Journal seems to be saying with an article that argues the precipitous 26% drop in Sony stock this year could actually be an opportunity for bargain hunters.

The Journal was heartened by the Sony video game unit's quarterly profit over the holidays -- its first in two years -- and sees increasing demand for the PS3 as a good reason to buy low in anticipation of selling high. Sony itself predicts sales of 9.5 million PS3s this year, and the Journal cites analysts predicting a whopping 14 million systems sold in '09. Pretty optimistic, considering the company only moved 3.6 million units in 2007, but with things looking up for the troubled system, it could happen.

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