According to a research note, Sony's stock price already reflects the impact of rising DRAM prices. BofA reiterated a Buy rating, but trimmed its price objective to ¥4,600 from ¥5,000, primarily due to a projected 5% reduction in FY3/27 operating profit. The market appears to have largely priced in the increased costs, limiting further drops.

This assessment stems from the substantial decline in Sony's share price, which has fallen approximately 30% from its November 2025 peak. During this period, the company's market capitalization decreased by around ¥7tn, significantly exceeding the estimated ¥94bn reduction in operating profit linked to higher memory costs. The focus now shifts to Sony's upcoming third-quarter results.

Analysts are watching Sony's February 5th earnings report, expecting an operating profit of ¥470bn. Guidance on the impact of higher memory prices on FY3/27 results could reduce uncertainty. BofA also expressed confidence in Sony's long-term strategy, particularly its progress in intellectual property monetization and its AI initiatives.

In the broader tech market, memory pricing fluctuations are common, especially for companies like Sony that rely on components like DRAM for products. Investors will be keen to see how the company navigates these cost pressures. Further, the integration of AI into content businesses will be a focal point for future earnings calls.