2013 will bring the next console cycle. I think that the market is always looking on the industry as a whole even if one company is exceptionally better than the rest. At first everyone thought that zynga will kill the console game industry but I knew it was not the case, they are a different market with different gamers. Dedicated gamers will continue to pay 60 backs for a true thrilling experience that they can't get from angry birds. The case here is that in the same time that mobile games were in the rise, consoles of this generations are coming to end, and that confused analyst and investors (even game companies were confused!), although there is no connection between these markets what so ever!
My point is that ATVI is a great company that happens to suffer from a confused industry.