How did you manage to write so much yet say so little? Are you a politician? I speak of the issues facing the company, you ignore them and just say it's going higher based on your experience of buying it before a 10% decline.
1. At the start of last cycle the software prices went up 20%. This cycle, 0%.
2. At the start of last cycle GME was starting a 50% store expansion. This cycle, they are declining.
3. Digital continues to grow and show no sign of stopping. Every digital sale is not only a likely lost sale, it also means no used game. Most gamers buying digital will do so directly from PSN or Live.
So compared to last cycle we have revenue compression due to pricing and lack of expansion, and margin compression due to used games decline.
Of course it was a "great start". Don't you remember all the analyst pumping this year, and their estimates of holiday sales being down 50%, therefore only being down 24% is awesome? Actually, I don't remember that either. I seem to recall they were expecting significant growth. Oh well, maybe December will have software growth, when almost nobody can find the consoles and current gen games are having their prices slashed?
A simple extrapolation of $2 per day produces $600 by end of next year. Add in any impact of real news, not the kind this week that said, "Our staff continues to come into work", and you get $800. Then figure the market often over-shoots, so $1,000. A marketcap of over $500BN before they show a profit seems more than fair.