PlayStation's successor has been announced today by Sony Computer Entertainment, with the console being released in Japan this Winter, followed by a Fall 2000 release in US and European territories. The new PlayStation will play original PlayStation games, along with Audio-CD's & DVD movies. Get the whole story: http://www.ebworld.com/ebx/news/monthlynews/march99/psx2annouce.asp
Folks, I have been long this stock since December and can't wait for the gains I expect in this stock during the next 2-3 weeks. I have been accumulating at $17.00, 15.50, 14.75, and again today at 15.00 per share and now have the position I am comfortable with.
This is a great, sound stock, with good fundamentals, little downside and significant upside. If the earnings are able to attract the right interest in this company, it should soar (low float, actual EARNINGS, pretty low P/E, good management, growth industry, etc.).
I expect earnings somewhere in the neighborhood of $1.20 - $1.50 to be announced by the end of next week. This should send the stock to $22 - $30 on the low side (assuming a conservative P/E of 18-20 remains intact). However, the upside is in the enthusiasm which could be generated.
I believe that analysts are still a little hesitant to get involved in this company due to several factors (Kim family share & potential to start selling more shares in June/July, unproven track record, etc.). But these fears should be overcome by a solid year of earnings, continued growth, a rebound in tech stocks (crossed fingers), and possible spin-off of EB World web site.
Live2PlayStocks, that buy in the first 40 minutes was me. In case we drop a tad more, I may reload. But I feel this is a great price! That was at 15 3/8. I see Cric estimates ELBO to come in year end 1.25 - 1.50. Lets see, a 1.50 year end figures out to be a 63% earnings surprise for the 4th qtr. Possible, definitely possible. I'm more comfortable with 1.25 - 1.32. But I'll hope for Crics 1.50!