At the time of publish, Sony’s (SNE) stock on the New York Stock Exchange is at its highest level since late September, 2008 – at 34 points. Many of us remember when the stock dipped (along with many stocks in the market) to abysmal levels when it crashed down more than 15 points in month and hit an all time low in Feburary 2009. The stock has grown in value ever since that time, remaining stable throughout most of 2009 at 20-30. However, since CES 2010, Sony’s stock has been on a rise to levels that haven’t been seen since the downturn in the US economy. This is powerful for Sony, as it signals investors are much more confident in the tech sector, but also positive about Sony’s strategy this year.
Investors and analysts have good reason to be upbeat – Sony’s product line for 2010 is probably its most cohesive in known memory, and they also had strong sales during the 2009 holidays. Sony is preparing to flood the market with an aggressive range of TV’s in many price ranges (and have set hard goals to raise their ranking in the top TV seller spot). Sony is also a big player in ushering in the 3D TV era, and have defined new plans to integrate an entirely new networked content strategy. We also commend them for making some smart plays in their other product offerings. Did we also mention that the PlayStation brand looks much better than ever with its recently released PS3 slim and upcoming firmware update to make it one of the first Blu-ray 3D players and 3D gaming devices?