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Pachter gets one right; GameStop stock worth buying
When video game analysts are mentioned, most of us who closely follow game news think of Michael Pachter. Like any analyst, their predictions aren't perfect. In fact, many abide by the 51% rule; if you get at least 51% of your predictions right, you're a good analyst. Back in November, Pachter predicted GameStop (GME) to ride a wave of consumer spending on video games. GameStop has released some information proving that buy a good one. GameStop has increased its already strong revenue outlook by $50 million and its Q4 earnings per share from $1.53-$1.59 to $1.58-$1.60. On top of other interesting sales promotions, GameStop certainly enjoyed the console launches and top-selling games like Gears of War immensely. GameStop is still looking like a strong buy with the strong Xbox 360, PS3 and Wii lineups for 2007 along with continuing PS2 support (though not everyone is in consensus on this). Since we're going to make some money off this one, we're going to forgive Pachter for some of his missed predictions.
Sony pleased as Punch with PS3 launch
And do note the capital "P" in the headline. Quite surprisingly, the true origin of the phrase has more unintentionally amusing connotations than was previously expected -- the thought of a bowl of pineapple party punch being simply delighted as drunk teenagers scoop out its innards never did make any sense. Now we know better and, thanks to Sony's neck crushing PRm (as in PR arm, you see), we even know that Sony is satisfied with the events that comprised the PS3 launch. Then again, who isn't? Right?According to Dave Karakker, senior director of corporate communications for SCEA, the primary points of interest are as follows: Good news, everybody! The initial allocation of consoles sold out within hours. And by everybody, we don't mean consumers. The best-selling game was Insomniac's Resistance: Fall of Man, followed by some angry football guy. Neither of these games manages to live up to the excitement generated by being shot while waiting in line or engaging in gladiatorial combat over that last PS3. The $599 PS3 model outsold the cheaper version. The "buzz" around the PS3 launch had a halo substitute effect on other Sony products, giving the PSP and PS2 healthy sales boosts of over 20% each. Furthermore, Sony remains committed to pumping out a million PS3 units before the end of the year. The sooner we get this launch nonsense out of the way, the sooner we can switch on our consoles and start playing some games. That's the medal that awaits us once we leap over the launch hurdle. (Feel free to interpret that phrase a bit more literally.) Sony's official launch statement is after the break.
