Financial turmoil? We toss it aside like a used glove. Wedbush Morgan’s Michael Pachter thinks the coming months may see game stocks start to rise again, as people realise the world hasn’t actually ended in the videogame space.
“We note that consumer sentiment in October thru December was as bad as we have seen this decade, and yet sales growth was still quite solid.,” the analyst told Edge.
“We think that publisher share prices may begin to appreciate over the next several months if software sales continue to be up year-over-year, and we are hopeful that solid gains in hardware sales will continue for the full year, resulting in growth of the installed base and allowing for continued double digit software sales gains.”
Buy! Does not constitute advice.