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Nintendo Stock At A Nine Year High Thanks To Switch Sales

by | Sep 19, 2017 | News, News Section, Videogames

Nintendo Stock At A Nine Year High Thanks To Switch Sales

by | Sep 19, 2017 | News, News Section, Videogames

Nintendo has been having a good year. In fact, it’s been nearly a decade since they’ve preformed this well, financially speaking.

Back when the original Wii was first released, Nintendo saw its stock price skyrocket. Then it slowly began to fall back to earth for a number of years, hitting rock bottom right around the time of the Wii U release in late 2012.

Now, Nintendo is back. Their stock price has been trending up ever since the Switch (then NX) rumors began swirling around in early 2015. The release of the company’s latest console and the consistently positive reviews of both the system and its games have only encouraged investors. 

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Credit Suisse, one of the world’s leading financial services company, recently gave Nintendo investors another major confidence boost. According to Barron’s, Suisse has upgraded Nintendo’s outlook from neutral to outperform.

Atul Goyal, an analyst from the global investment banking firm Jefferies, has also upgraded Nintendo’s stock to a buy. The analyst cited Rockstar’s interest in the Switch as a primary reason for his optimism.

On top of elevating the outlook for Nintendo, Suisse also updated their projected sales numbers. Previously, Suisse foresaw the Switch selling 70 million units over its lifetime. Now they’ve nearly doubled that number, estimating that 130 millions Switch units will be sold through 2022. The massive change in figures is a result of the Switch now being seen as more of a handheld device and less as a traditional console.

All of this comes on the heels of the latest sales report from the The NPD Group last week. The report states that the Nintendo Switch outsold both the PS4 and Xbox One domestically for the month of August. This is the fourth time since the console’s release that it has outsold its competitors for a given month. With a handful of major exclusives on the horizon, including Super Mario Odyssey, Nintendo will no doubt look to keep their hot-streak going through the Holiday season. 

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