Merrill Lynch still thinks Sony will sink...
This is sad, all things considered. I mean, my Visa is a Merrill-Lynch version/sponsored/bonus point crap card. They'll probably refuse to give me my 6,000 or so points when I use the card to buy a PS3. Credit cards are awesome. Anyway... what was I doing? Oh yeah. Blogging stuff. Merrill Lynch has released an updated financial forecast and estimates a multi-billion dollar loss for Sony, related to the PS3. For the stock market inclined out there, here's a fun visual:
Target share price revision: ¥4,700 --> ¥4,000 ($40.05 --> $34.09 at ¥117.35/US$1)
Total PS3 operating loss expected over 5 years: ¥738.9 billion ($6.3 billion at ¥117.35/US$1)
Ouch, Merrill-Lynch! Or should we say, Merry Lunch? ...Mob Lynch? Someone out there can surely think up a better insult than me. I'm just too nice. If you hadn't heard, the PS3 sold out in hours throughout Japan -- not unexpected, really. A similar result will probably occur in the US and Canada -- also not unexpected. The second shipment will better illustrate the reliability of this forecast. Anyone got any stock in Sony? Are you nervous?
