4 Reasons Sony's Stock Could Head Higher in 2020
Sony's (NYSE: SNE) stock surged 40% to its highest level in nearly two decades in 2019 as the growth of its image sensor business offset the softness of its gaming and consumer electronics divisions. Investors might be itching to take profits after that historic rally, but I believe the stock could still head higher in 2020, for four simple reasons.
Sony's imaging and sensing solutions (I&SS) unit supplies image sensors for roughly half of all smartphone makers worldwide, including Apple (NASDAQ: AAPL), Samsung, and Huawei.
Smartphone shipments have declined annually since 2017, according to IDC. However, that market saturation prompted smartphone makers to aggressively upgrade their cameras and launch multi-camera devices. New features like facial recognition and augmented reality also require multiple cameras.
Source Fool.com
