Scalper1 News
Facebook ( FB ) stock is rising today as the Oculus Rift virtual reality headset begins shipments, officially making it the first high-end VR gear to come to market. Facebook-owned Oculus is expected to sell several hundred thousand $599 Rift devices this year. Evercore reiterated its outperform rating on Facebook, saying that the social media giant is “best positioned” to benefit from the growing importance of messaging applications. The investment advisory firm also raised its price target to 150 from 140. Shares climbed 0.8% to 114 intraday in above-average volume and are on track for a six-day winning streak. The rise puts Facebook even closer to a cup-base buy point of 117.69: it’s trading just 3% below that level. Sony Seen Unveiling New Console Meanwhile, the Wall Street Journal reports that Sony ( SNE ) has plans to unveil a new console ahead of the October launch of its $399 PlayStation VR headset. Sales of that device are expected to benefit from the already-installed base of 36 million PlayStation 4 consoles. Some say that an upgraded console with better graphics could help Sony win even more market share as serious gamers want top-notch visuals. Pressure On Microsoft? The new Sony console could also put pressure on Microsoft ( MSFT ), which typically releases its new console around the same time Sony does. Microsoft’s HoloLens, an augmented reality device, is in the developer stage. The $3,000 headset has gaming applications, as revealed during a Minecraft demo. The device will start shipping this Wednesday, the same day as the start of Microsoft’s annual developer conference. Microsoft fell 1% Monday, while Sony dipped fractionally. Scalper1 News
Scalper1 News