10 Best Virtual Reality Stocks To Buy Now

8. Sony Group Corporation (NYSE:SONY)

Number of Hedge Fund Holders: 29

Sony Group Corporation (NYSE:SONY) is a Japanese multinational conglomerate known for various products across different segments. The Sony Group comprises segments including Game & Network Services, Music, Pictures, Entertainment Technology & Services (Mobile Communications/Imaging Products & Solutions/Home Entertainment & Sound), Imaging & Sensing Solutions, Financial Services, and All Other businesses.

Sony is a pioneer in virtual reality. The firm has introduced one of the most popular VR headsets of all time, the PlayStation VR (PSVR), which was launched in October 2016. In 2023, Sony Interactive Entertainment announced the global launch of its next-generation virtual reality headset, PlayStation VR2 which was considered a big improvement to the original PSVR. In January, the company unveiled a new spatial content creation-focused mixed reality headset which was planned to be made available later in 2024.

For the fiscal second quarter ended September 30, Sony Group Corporation (NYSE:SONY) posted a strong performance. The firm recorded net income attributable to its stockholders of 338.50 billion yen as compared to 200.11 billion yen in the prior-year quarter, a solid increase of 69%. Sales grew by 3% year-over-year, driven by significant increases in I&SS (Imaging & Sensing Solutions) and G&NS (Game & Network Services) segments sales as well as rises in the Music and ET&S (Entertainment, Technology & Services) segments sales, while  Financial Services and Pictures segments sales declined.

Sony Group Corporation (NYSE:SONY) ranks among the best VR stocks to buy based on its leading position among the top VR headset makers. As of Q2, the stock is held by 29 hedge funds.