Sony Stock Spikes Despite Microsoft's Xbox One Announcement: PS4 Strong Competition

Microsoft's announcement of the XBox One failed to stifle its Sony competitor after stocks spiked following the announcement.

Sony's upcoming next-gen system, the PS4, and its recent announcement to consider a spinoff of its entertainment division, have created a trending force for the company.

According to Yahoo! News, the latest updates on both Xbox One and PS4 specs concluded that Sony's machine wins out in terms of system memory and processing power.

Following a proposal from investor Daniel Loeb, Sony also plans to discuss dividing up a portion of its entertainment business to maximize profitability.

"The proposal from [Dan Loeb] is something that we should discuss thoroughly at a board meeting and then we'll decide Sony's stance," said Chief Executive Kazuo Hirai earlier today.

"We are still at the starting stage."

Despite the news catching like wildfire, some reported the story as a confirmation rather than a hypothesis, due to a translation error by the Nikkei Business Daily from Japanese to English.

Oops.

But, with more than a 9% jump in stock, many have concluded that Microsoft's latest developments - and alleged blunders - have helped Sony along the way.

According to Forbes, Microsoft's announcement of the Xbox One included new ventures like a television series to be helmed by Steven Spielberg based the popular "Halo" franchise.

Yet the lack of gaming-specific news could be responsible for Microsoft's stock dipping shortly after the announcement, and Sony's stock rising.

With no formal announcement for the PS4 as of yet, it seems Sony has a slight advantage from the starting line.

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world news
sony
Microsoft
XBOX
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