Microsoft's Project Scarlett, EA Updates To 'Apex Legends' Highlight Opening Of E3

Microsoft Corporation MSFT’s next-generation gaming console and upcoming upgraded content for Electronic Arts Inc. EA’s "Apex Legends" highlighted the start of the Electronic Entertainment Expo, or E3, according to Bank of America Merrill Lynch analyst Justin Post.

Microsoft kicked off the video game industry’s showcase trade show by announcing that the new console, code-named Project Scarlett, will be available around the holidays in 2020.

Post said anticipation of new consoles next year will likely be the big positive take-away from the show for U.S. game companies as it is expected to be a down year for new title releases in the big game franchises.

Microsoft says the console will be four times more powerful than the previous generation, Xbox One X, but didn’t disclose what it will cost.

Halo Infinite Coming

Microsoft also said it will launch "Halo Infinite" next year, and that its cloud streaming platform, called Project xCloud, will test publicly in October, allowing gamers to stream titles to mobile devices.

"Halo Infinite" is likely the most anticipated of the company’s upcoming games, along with “Cyberpunk 77,” “Gears 5,” and “Borderlands 3,” Post said.

Also at E3, Microsoft announced it's acquiring game studio Double Fine Productions as it continues to build its in-house content development capabilities.

EA Play

Post highlighted EA’s “Play” event, at which the company gave new details on its “Star Wars Jedi Fallen Order,” and its sports titles and new content coming to some game franchises.

EA said Apex Season 2 will launch July 2, with a new weapon and a new legend, called "Wattson," along with other new content, Post said.

“While we believe some gamers were looking for more than one new weapon and Legend, early reviews on Wattson are positive, and we believe new missions, gameplay styles and more content could help to reaccelerate engagement,” Post wrote in the note. He has a Buy rating on EA with a target price of $118.

Post said the season 2 launch will be an important marker for EA and its ability to hit the $300 million to $400 million in Apex revenue the company projected in its 2020 guidance.

Related Links:

Ready Trader One: Events, Stocks To Watch At E3

Xbox Showcases 60 Anticipated Games, Including 34 To Premiere In Xbox Game Pass

Photo courtesy of Apex Legends

Posted In: Apex LegendsE3Justin PostProject ScarlettAnalyst ColorNewsEventsAnalyst RatingsTechMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.