Gaming Stocks are major part of the IT sector, in 2023 the market has not performed as expected and especially not good at all for IT sector, with around 34% of downfall IT sector is still breathing.
Even though market has fallen heavily, the Gaming sector is still on growing phase, companies has reported their sales which is not bad at all.
FUTURE OF GAMING COMPANIES
As per the Grand View research, by the end of 2023 we will see around 14.1% of CAGR in the $195.65 Billion video game industry, this should be the right time to include a good amount of stocks in your portfolio.
Let’s have a quick look about some of the Gaming stock that should have a wealthy future.
from 2021 when Microsoft launched its Xbox brand and console, Its been a terrifying competition for others, before that time there was a monopoly of Nintendo and Sony in this industry however, Microsoft has managed to put his leg in the market and now its very well known in the Gaming sector in which Netflix-for-games subscription service, Xbox Game Pass has performed a major role.
From last 2 years, this company has grown around 150% as the service increased from $10 Million to $25 Million. Microsoft played Ace with their Gaming pass in which people can just pay minimal subscription fees and play company’s latest games than paying $60 for just one game.
In 2023 Microsoft can be the 3rd largest Gaming industry if they manage to acquire Activision Blizzard by paying $68.7 Billion, and if there is no delay in the deal then Microsoft can achieve another height in the Gaming sector.
With the 41% fall in this year because of the high interest rate, people are avoiding to spend their money to buy computers accessories, however this does not make NVIDIA weak player in gaming industry.
This November, Nintendo has announced that their Nintendo switch has exceeded $114 Million units and counting before the year ends, NVIDIA is the one who process and does the graphics for Nintendo consoles, means that as Nintendo units gets sold NVIDIA will get profit from it, and as per some reports Nintendo is in developing of the sequel of Nintendo switch and it can be released in 2023 and if so, then there is no doubt that NVIDIA sales will increase as well.
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