Sony Corp (ADR) (SNE) Shares Jump As PlayStation VR is Said to be Coming This Fall

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Shares of Sony Corp (ADR) (NYSE:SNE) stock are up quite nicely today, as it has now been semi-confirmed that the company’s Playstation VR will be launching this fall. In a television interview with Fox Business Channel, GameStop CEO Paul Raines said that his company “will launch the Sony product this fall.”

Sony Corp (ADR) (NYSE:SNE)’s upcoming virtual reality device is set to challenge the likes of HTC and Oculus with their separate virtual reality devices, in what could make 2016 the year of VR. Virtual reality has many uses, whether it be video games, movie making, or just about any sort of viewable entertainment. While there isn’t much out there yet in terms of software and videos, expect to see a lot more soon. A successful launch of Playstation VR could send shares of Sony stock soaring in the near future.

The stock is up 3.55% or $0.74 following the news, hitting $21.56 per share. About 351,529 shares traded hands. SNE has declined 26.69% since July 10, 2015 and is downtrending. It has underperformed the S&P500 by 16.49%.

From a total of 2 analysts covering Sony Corp (NYSE:SNE) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. Sony Corp was the topic of 3 analyst reports since August 16, 2015 according to the firm StockzIntelligence Inc. Nomura maintained shares on September 4 with a “Buy” rating. JP Morgan maintained SNE stock in a recent report from August 16 with a “Overweight” rating.

Sony Corporation is engaged in the development, design, manufacture, and sale of various kinds of electronic equipment, instruments, and devices for consumer, professional and industrial markets, as well as game consoles and software. The company has a market cap of $28.69 billion. The Company’s divisions include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other. It has 29.69 P/E ratio. The Company’s manufacturing facilities are located in Asia, including Japan.

#focuskw=’Sony Corp (ADR) (NYSE:SNE)’##metadesc=’Shares of Sony Corp (ADR) (NYSE:SNE) stock are up quite nicely today, as it has now been semi-confirmed that the company’s Playstation VR will be launching this fall. In a television interview with Fox Business Channel, GameStop CEO Paul Raines said that his company “will launch the Sony product this fall.”

Sony Corp (ADR) (NYSE:SNE)’s upcoming virtual reality device is set to challenge the likes of HTC and Oculus with their separate virtual reality devices, in what could make 2016 the year of VR. Virtual reality has many uses, whether it be video games, movie making, or just about any sort of viewable entertainment. While there isn’t much out there yet in terms of software and videos, expect to see a lot more soon. A successful launch of Playstation VR could send shares of Sony stock soaring in the near future.

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