Financial Times article said developers expected beta xboxes in March and they failed to deliver.
MSFT releases the following and sidesteps the issue. Convenient, eh.
MARKETWATCH NEWS NEWS SERVICES COMPANY RELEASES NEWS SEARCH
Microsoft says Xbox launch, development 'on track'
4/4/2001 5:22:00 PM
SEATTLE, April 4 (Reuters) - Microsoft Corp. (MSFT) said on Wednesday that its Xbox video game console is on target for a fall release and that the software giant's support for developers making games for the highly-anticipated machine is also "right on track."
"We are still right on track to deliver hardware and software for a launch in fall of 2001," John O'Rourke, Microsoft's director of games marketing, said in an e-mail.
O'Rourke was responding to an article in the Financial Times that Microsoft was late in delivering the latest development kits to game-makers in Japan and Europe, a report that hit shares of video game companies on Wednesday.
Microsoft had promised to give the latest development kits to developers before the Electronic Entertainment Expo in mid-May, O'Rourke said.
"Our developer support and release process is also right on track," O'Rourke said. "We're still on schedule."
With a whopping PE at this weak market, the incoming earning reports next week will further hammer the technology stocks, so I expect ERTS to drop below 40 in a few days. Yes, this stock has a strong base, but it cannot immune all the time, especially summer is usually the slowest time for this game sector.
This stock is not just going to fall off. The video game industry is larger than you think. The video game consumer hardly even knows what the stock market is. This stock has a strong base, it will not be in a free fall. I agree, the stock is overvalued, but the way you talk about it dropping into the teens like nothing is a bit too bold and aggressive.
This stock is overvalued....Only a matter of time before this pig loses value like all the rest. Video games.....who buys video games when markets are tanking.......?????? Short this pig and cover in the teens.....