We believe that industry sales have been quite weak since Take-Two's late October negative preannouncement, primarily due to consumer malaise and a shortage of Xbox 360 hardware... Given weak November NPD sales and Electronic Arts' and Activision's recent earnings warnings, we believe that Take-Two likely experienced weak sales during the holiday period, as consumers continue to shun current generation games while waiting for next generation consoles.
Quotes about preannouncement (5 Quotes)
If (these warnings don't) wake up people that we're in preannouncement season and the preannouncements are going to be bad, I don't know what will,
Our downgrade is based on the company's preannouncement for contract revenue of 1.25 bilion-1.3 billion. Our estimate was 1.65 billion.
Estimates have to come down, ... We're in for an ugly preannouncement season.
We believe investors need to wait to buy the stock until the market better understands if and when Intel's aggressive pricing strategy, which we believe in part caused this preannouncement, begins to have a negative impact on AMD's fundamentals.