Investors may want to pay close attention to video game stocks, like Take-Two Interactive (TTWO) and Electronic Arts (EA).
Not only are they oversold, but they’re likely to benefit from surging sales again this year.
In 2023, for example, sales of everything game-related came in at $57.2 billion, which was above the $56.6 billion in sales for 2022.
“Great content is what drives the video game market, and 2023’s release slate was one of the best in industry history,” said Mat Piscatella, Executive Director of Video Games at Circana, as quoted in a press release. “While mobile, console and PC platforms remain the way most people engage with gaming today, new technologies are expanding the ways people can play. The future continues to be very bright.”
In addition, with new releases coming up, 2024 could be another big year for the industry. Plus, when Take-Two finally releases its latest installment of the much-anticipated Grand Theft Auto VI, sales are likely to rocket.
Company: Take-Two Interactive (SYM: TTWO) Analysts at Oppenheimer just reiterated an outperform rating on the stock, with a price target of $185. The firm noted investor anticipation for GTA VI, upcoming earnings, and a potential adjustment to fiscal year 2025 guidance. |
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Company: Electronic Arts (SYM: EA) |
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