The Xbox Series X-Playstation 5 battle could bump tech stocks higher
Microsoft has been a big winner for stock traders over the past year, delivering gains of nearly 60%. But Sony hasn't been far behind and the two companies are preparing to go head-to-head again in the gaming sphere as Sony releases its PlayStation 5 and Microsoft debuts Xbox Series X.
What's happening: A poll from research firm Civic Science shows U.S. consumers favor the Xbox, with 57% of respondents saying they are more excited for the latest Microsoft offering than its Sony rival. The same result holds true across gender and racial lines.
- Consumers who say they play video games daily say they are more excited about the new PlayStation (44% to 25%).
- CivicScience's survey was taken in January among more than 1,600 Americans age 13 and up.
Reality check: No matter which console consumers prefer, Microsoft and Sony can both win. In May, they announced a strategic partnership to co-develop game-streaming technology and host some of PlayStation’s online services on Microsoft's Azure cloud platform.
The bottom line: If these new consoles create enough hype and can deliver returns in the $38 billion video game console market, 2020 could be an even bigger year for Microsoft and Sony.