Sony Group Corp (NYSE:SONY) is one of the best Japanese stocks to buy right now. On April 17, Reuters reported that Sony Group Corp (NYSE:SONY) and its strategic partner, Honda Motor, are poised to pursue other opportunities as part of their 50-50 joint venture. The push comes weeks after the two canceled the development of the Afeela 1 electric vehicle as part of their 50-50 Sony Honda Mobility joint venture.
The joint venture came into being as part of an effort that sought to pair Honda’s engineering and manufacturing with Sony’s software and gaming capabilities. The ultimate goal was to team up and catch up with other electric vehicle rivals.
Sony and Honda have already opened discussions on the development of non-EV products and services as part of the new initiative. The companies are also confident they can find other applications for Afeela 1 technologies, such as an artificial intelligence assistant and an audio system.
On the other hand, Morgan Stanley has reiterated that artificial intelligence could cut video game development costs and unlock $22 billion in annual profits for game makers. Sony is one of the companies that would benefit from integrating AI into its gaming environment.
Sony Group Corp (NYSE:SONY) is a diversified global conglomerate focused on entertainment, technology, and services. Its core activities include gaming (PlayStation), music, motion pictures, television, professional media solutions, and consumer electronics, such as TVs, cameras, and audio devices.
While we acknowledge the potential of SONY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 8 Best Lidar Stocks to Buy According to Analysts and 10 Best Cryptocurrency Stocks to Buy Right Now.
Disclosure: None. Follow Insider Monkey on Google News.
