Why Sony Group Shares Declined 10% This Week?
<p><a href='https://financialmodelingprep.com/financial-summary/SONY'>Sony Group Corporation (NYSE:SONY) </a>shares declined around 10% since the acquisition announcement of Activision Blizzard by Microsoft, as investors fear the deal will materially undermine PlayStation's competitiveness longer term. </p>
<p>While Xbox will become a more attractive gaming platform with Activision Blizzard, analysts at Oppenheimer believe investors' initial read-through for SONY is overly negative. The analysts believe Xbox and PS's first-party (1P) content strategies are driven by different purposes. Xbox prioritizes reach. PlayStation prioritizes differentiation. They view the deal as Xbox's attempt to expand its scale and reach across console, PC, and mobile platforms, not as a targeted weapon against PlayStation. </p>
<p>The analysts expect those different goals to result in less direct competition between the two platforms and enable both to benefit from secular industry growth. </p>

NYSE:SONY