Sony (SONY) stock was up on Thursday after PlayStation’s Mark Cerny discussed new technology coming to a future video game console. A nine-minute video on the official PlayStation channel is dedicated to the graphics advancements that PlayStation has made while working alongside chipmaker Advanced Micro Devices (AMD).
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While all of this is interesting news, it’s really what happened near the end of the video that caught viewers’ attention. At that time, Cerny mentioned that this technology would be coming to a future console that will be released in “a few years’ time.” This has sparked talk about the PlayStation 6 and when it will be released by Sony.
Considering that Cerny said a few years’ time and not a couple of years, many have taken this to mean the PlayStation 6 won’t be released until at least 2028, and possibly later. This would extend the life of the PlayStation 5, which was released on November 12, 2020. The PS5’s lifecycle has been controversial, with initial limited supplies, problems with scalpers, and infrequent game releases. It’s currently the 11th best-selling console of all time, but is still behind every other PlayStation home console in terms of units sold.
Sony Stock Movement Today
Sony stock was up 0.27% on Thursday, extending a 44.88% year-to-date rally. The shares have also climbed 57.74% over the past 12 months. Sony doesn’t just deal in video games, as it covers other avenues of entertainment, such as movies and music.
Is Sony Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Sony is Moderate Buy, based on one Buy rating over the past three months. With that comes a $31 price target for SONY stock, representing a potential 3.92% upside for the shares.
