This is realism; in Japan, it passes for progress.
The gaming franchise is also valuable, especially in Japan. Sony smartphones are selling, and Sony is not abandoning the tablet market. At its present price the market cap of Sony is about $16.5 billion. The value of the profitable pieces of the company would appear, to some analysts, to be more than that.
This may be why, of 20 analysts following the stock, six still rate it a buy and the average rating is "overweight." Hope springs eternal when a company has assets with value.Sony has assets with value. Whether Kazuo Hirai will ever realize that value has been the question. Based on the latest news, Hirai is moving in that direction, which can't be anything but positive. After two years in charge at Sony, Hirai seems to have finally figured out what he can do, what he can't do, and the difference between the two. If that realism in the executive suite can be turned into more decisive action, maybe there is hope for Sony yet. At the time of publication, the author held no positions in any of the stocks mentioned. Follow @danablankenhorn This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts