Re ATVI, the recent weakness relative to EA has been disappointing. As I've mentioned, I was selling covered calls at $40. I think 2015 earnings will be strong thanks to better than expected BLOPS3 sales. They also introduced MT to BLOPS3 a few weeks after launch which will generate more free profit. Perhaps the concern is 2016 guidance? What's going on with Destiny? Is Candy Crush growing? There will be growth, they already said 30% earnings accretion from Candy. Recent rumors suggest Destiny 2 may not come out this year, and there's been no official timeline of new content for the game. The player base is definitely down significantly from a year ago, perhaps down by 75% based on Bungie's own published player stats, and now with little or new content coming in 2016 it leaves the door open for something like Ubi's Division.

For 2016 guidance then, that one I can't answer. It comes down to trusting in Kotick. Blizzard's Overwatch is coming soon and presumably it will be a license to print money. If Kotick can deliver on guidance, it's worth $40 imo.

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