The shares of Sony have increased about 20 per cent since the beginning of 2017. If the value of the shares continues to rise this way, Sony could close this year with a profit of $ 4.5 billion and can reach the highest profit since 1998. The stock value of Sony has not pass the $ 33 level since 2008.
The Tokyo-based company declared net profit forecast of a $ 620 million for the first quarter of 2017, which is three times the previous forecast.
After this announcement analysts changed their expectations about the profit and stock value of Sony in 2017. Goldman Sachs, one of the leading investment banks, expects that the company’s stocks will continue to increase in 2017. On the other hand, JP Morgan states that the company will keep the value of its shares, but not there is no sign for a significant increase. Analysts of both JP Morgan and Goldman Sachs, one of the leading investment banks, expects that the company’s stocks will continue to increase agreed on that Sony is going to reach the highest profit since 1998 by closing the financial year with a profit of around 4.5 billion dollars.
In 1998, Sony earned an historic profit by the help of the computer games named the “Metal Gear Solid” and “Parasite Eve” games, and by the help of the movie Man in Black. However, the reason of the increase of its profit since the beginning of this year is a bit different. According to the financial analysts the biggest reason for the increase in profits is that the company has had a policy of cutting costs. And, it is also known that Sony’s insurance unit is bringing big gains to the company. The company’s chip units also succeeded to deal with the recent shortcomings and this has also contributed to the record.