Sony shares drop because of PS3
updated 02:30 pm EDT, Tue October 3, 2006
PS3 causes Sony share drop
In reaction to an analysis by investment firm Goldman Sachs, Sony stocks have fallen 2.75 percent, MCV reports. Sachs shifted its rating of Sony from "buy" to "neutral," expressing confusion about PS3 launch plans and disappointment in sales of the PSP. The PS3 is further described as "unreliable." A Macquarie Equities analyst foreshadowed these thoughts last week, noting the frequent overheating of PS3s at the Tokyo Game Show. Sony should be thankful however, as the analyst agreed this was probably due to high temperatures in the TGS venue.
