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Sony Surges to 20-Year High as IPhone, Games Spur Outlook Hike

Sony Surges to 20-Year High as IPhone, Games Spur Outlook Hike
Bloomberg
2/4/2021
Takashi Mochizuki
(Bloomberg) Sony Corp. surged to a 20-year high after raising its annual operating income outlook by 34%, banking on robust games sales and Apple Inc.’s iPhone 12.
The Tokyo-based company now expects to make 940 billion yen ($8.9 billion) in the fiscal year ending March, up from 700 billion previously. It’s forecasting a pickup in divisions spanning pictures, music and games as well as its imaging unit providing camera sensors for iPhones and other devices.
Shares jumped as much as 10.4% in Tokyo on Thursday, their biggest intraday gain since May 2019. ....

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