PUBLIC MARKS from mrongos with tags "PS3 consoles" & "Philadelphia Inquirer"

Sony can’t catch a break. This time the rumors and innuendo have cost them. Literally. Earlier this week, Macquarie Equities analyst, David Gibson, put the hurt on Sony by apparently stating that “he had heard” that several PS3s on the show floor at TGS “operated erratically and had to be repeatedly reset.” According to the Philadelphia Inquirer, “The problem seems to stem from consoles running too hot and then shutting down. Sony has claimed that it was simply a case of not having the proper ventilation at the kiosks where the consoles were played. It’s possible, but Sony stock was down almost 3 percent by Wednesday from the revelations.” To put that into perspective, a 3% drop in Sony’s stock price on the NYSE represents a drop in Sony’s value by more than $1 billion dollars! Yes, I said “billion.” Of course, stocks rise and fall everyday… sometimes by less than 3% and sometimes by much, much more. What’s interesting is that with this drop attributed to PS3 overheating “news,” it appears that shareholders (specifically, institutional investors), are watching the PS3 launch very, very closely. Everyday, my appreciation for the PS3’s potential to make or break Sony grows. On the bright side of things, and based on the picture to the right, the PS3 can double as a mirror! That should drive Sony’s market cap up a few hundred million.