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Microsoft stock down despite new Xbox hype

“It’s both the most powerful and smallest console Xbox has ever built,” Microsoft said.
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The new console will go on sale for US$499 per unit

The hype and excitement surrounding what had been known as ‘Project Scorpio’ was insufficient to beat the slump for Microsoft Corporation (NASDAQ:MSFT) stock on Monday.

On Sunday night unveiling of its new games console, to be called Xbox One X, which will be the ‘world’s most powerful console’ when it goes on sale in November.

It is designed to be a ‘ultra-high definition’ or ‘4k’ gaming machine, an industry milestone that Microsoft will reach before rival console maker Sony.

“Xbox empowers game developers large and small to create different types of games for every type of player,” said Phil Spencer, head of Microsoft’s Xbox division.

The company added that the new console was created to deliver “uncompromised power, ultimate compatibility and design excellence”.

“It’s both the most powerful and smallest console Xbox has ever built,” it said.

Xbox One X will retail at US$499 per unit when it goes on sale in the United States. The console will be priced at £499 in the United Kingdom and €499 in Europe.

Microsoft noted that current Xbox One titles will be playable on the new console.

In New York on Monday, Microsoft shares were alongside technology sector peers in negative territory – down 1.6%, changing hands at US$69.22.

 

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