I don't know about outselling the Wii U + PS4 combined, but I do think Microsoft can push Sony into a much smaller piece of the hardcore pie.
Right now the HD market is split basically 50/50 between MS and Sony, I think MS will try to push their share up to 70%.
They can outspend the hell outta Sony on exclusives and marketing and better hardware at this point. Sony is in trouble IMO.