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View Bradley Sugarman's Comments
The Short Thesis For Activision Blizzard
Nice article but I think you're ignoring ATVI's trendsetting ability. Call of Duty isn't going anywhere. On a personal level I've mostly quit gaming because most games out now are still just COD knockoffs. Disney has already mimicked the Skylanders franchise and how many of those GuitarHero copycats were there? As far as I'm concerned ATVI still is the best investment in the gaming industry.
But my problem with your valuation is that you've glossed over all the additional shares ATVI has just bought back from Vivendi. By using earnings per share I feel that your $9 assessment is at least 25% undervalued. Not saying the stock is a buy at these prices but your stance is slightly too pessimistic.
Oct 14 01:44 PM
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EA, Activision Command The Console Cycle
Great article as always.
TTWO should have taken the $25 buyout offer from EA in 2008.
Personally, I think the release of GTA V was poorly executed. The "iFruit" app is only out for iPhone, creating an opportunity for hackers to create fake iFruit Android apps. The online components not only weren't functional at the release but are still having issues weeks later.
The whole goal was to match rival ATVI's Call Of Duty by adding hundreds of more hours of game play to the GTA franchise but so far falls short by a long shot.
Oct 2 06:55 PM
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