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Julie Lee

Equity Bottom-Up

August video game industry sales was solid, up 37% yoy, after having modest slowdown in June and July. 
Recent correction on video game companies such as Activision Blizzard, Electronic Arts, and <a href="https://www.smartkarma.com/entities/sony-corp" target="_blank" data-smartkarma-citation="entities:563:1" rel="noopener">Sony Corp (6758 JP)</a> may offer buying opportunities given continued positive industry growth, new releases of PS5 and Xbox X/S, and potential price hike of games. Valuation of video game companies are relatively attractive compared to other major global tech companies despite solid long term growth prospect and strong cash flow. 
We will provide further analysis on potential positive impacts of PS5 on Sony, which is currently underestimated by the street.

August video game industry sales was solid, up 37% yoy, after having modest slowdown in June and July. 
Recent correction on video game companies such as Activision Blizzard, Electronic Arts, and Sony Corp (6758 JP) may offer buying opportunities given continued positive industry growth, new releases of PS5 and Xbox X/S, and potential price hike of games. Valuation of video game companies are relatively attractive compared to other major global tech companies despite solid long term growth prospect and strong cash flow. 
We will provide further analysis on potential positive impacts of PS5 on Sony, which is currently underestimated by the street. 

Accelerating Video Game Sales Growth in August and Strong Pre-Sale Interest for PS5