Video games have had a remarkable time in the past. This year may be the beginning of positive trends for the industry. Microsoft Corp (MSFT), which produces the Xbox gaming console, and video game developer Activision Blizzard, Inc. (ATVI) are likely beneficiaries.
The United States alone spent $57 billion on video games last year, increasing 27% year-over-year. The industry will continue to grow at least in part in 2021.
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ATVI took the COVID-19 period with several new games (at the COVID-19 period, ATVI was busy redesigning its business). Consequently, the company’s revenues returned to growth and increased by 25%, totaling $ 8.1 billion. The mobile version of Call of Duty, which launched in October 2020, showed 35 million downloads in its first three days of release. Activision Blizzard plans to expand the free-to-play concept to other games soon, just as it did with Call of Duty: Warzone, released on consoles and PC in March 2020, and Call of Duty: Black Ops Cold War in November.
The stock has been experiencing an upward trend during the past year. ATVI has gained 48.76% in the past year, while the stock has gained 11.08% in the last six months. ATVI is down by 3.74% over the last month, and its quarterly performance is currently 13.23%. At the moment, the performance for the week is -9.63%.
Similarly, it is worth noting that Microsoft has generated $ 9.5 billion in gaming revenue in 2020 – thanks to the Xbox, the company’s video game revenue surpasses Activision’s. Subscribers to the Microsoft service can access additional content and discounts. Microsoft console sales continue to grow at double-digit rates, as well. The Xbox platform makes it possible for many companies to sell their products and services while also offering Microsoft’s Azure cloud platform with a market share of 20 % worldwide.
A share of Microsoft Corporation (NASDAQ: MSFT) is currently trading at $227.39, meaning its value has jumped 71.59% from its 52-week low. On intraday trading, MSFT shares have traded between $233.365 and $227.13. The company shares have reached highs of $246.13 and lows of $132.52 in the last 52 weeks, and intraday changes are just 1.82%.