Things Are Looking Bad For Xbox Series X Stock
If you still don't have an Xbox Series X, you can at least take comfort in the fact that you're not alone. Microsoft's new top-of-the-line console has been especially difficult to find, and according to executives at the company, that's not going to change anytime soon. During a Microsoft earnings call held on Jan. 26, Chief Financial Officer Amy Hood spoke about the success of the Xbox Series X and Series S launch from a sales perspective. From the sounds of it, the Xbox brand considers the launch an overwhelming success, but that good news didn't come without a bit of bad news, as well.
To start, Microsoft's console hardware revenue is reportedly up 86 percent, which is a sign that people are really taking to the company's new machines. That is a positive development, especially when you consider how badly the Xbox One performed when it first launched back in 2013. All this demand is really putting a squeeze on the number of available consoles, however, as new stock is almost immediately snatched up by consumers and scalpers as soon as it becomes available. This could make securing an Xbox Series X, or even a Series S, much more challenging in the months ahead.
In fact, Hood stated that the demand for the new consoles is "significant," and that the supply pipeline will likely be "constrained" for the rest of the quarter. So from now until March 31, 2021, you may need to sleep with your smartphone and credit card by your side. If new stock appears online, you'll want to move quickly to try and check out before it vanishes.
Microsoft did have some other good news to share during the earnings call, at least. Xbox Game Pass is now up to 18 million subscribers with no signs of slowing down. Xbox Live is seeing around 100 million gamers online every single month across various platforms. Team Xbox has some momentum at the start of this new generation, though Microsoft did try to slow it down by doubling the price of Xbox Live Gold. Fortunately, that move was quickly reversed.
While it's good for Microsoft that so many people want the Xbox Series X, however, the stock shortages may leave a lot of gamers disappointed. Hopefully this is something Microsoft can get squared away sooner rather than later. Sony may be in the same boat with the PlayStation 5 right now, but that won't always be the case.