Sony (SONY) has upped the ante in the video game cloud streaming battle with Microsoft (MSFT). The company now allows gamers to play their games on the PlayStation Portal without the need to own a PS5. This comes after the company conducted a beta test of this feature over the past year with its PlayStation Plus Game Catalog and Classics Catalog.
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This update now lets players take their PS5 games on the go, without the need to tie the PS Portal to a PS5 for Remote Play. That’s a major benefit as the console was previously limited to playing PS5 games streamed from a connected console. This adds a layer of portability to the PS Portal that wasn’t previously there.
This also challenges Microsoft’s plans to turn every device into an Xbox. It also comes after the launch of the ROG Xbox Ally, a handheld gaming PC that added portability to Microsoft’s gaming division. Taking games on the go has proven to be a huge appeal to gamers, with Nintendo (NTDOF) paving the way with its Switch and the ongoing success of the Switch 2. As such, it makes sense that Sony and Microsoft are competing so fiercely in this field.
Sony Stock Movement Today
Sony stock was up slightly on Thursday, extending a 36.52% year-to-date rally. The stock has also climbed 53.69% over the past 12 months. Investors will note that Sony does more than just video games. The entertainment company also has businesses dedicated to film and music.
Is Sony Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Sony is Moderate Buy, based on two Buy ratings over the past three months. With that comes an average SONY stock price target of $34, representing a potential 20.91% upside for the company’s shares.
