Nintendo Switch 2 launch sparks global frenzy, boosts stock in U.S. and Japan
Nintendo's long-anticipated Switch 2 officially launched this week, igniting a global wave of excitement and long lines at retailers from Tokyo to New York
Analysts expect the company to sell 15 million units of the Switch 2 in the current fiscal year, with some forecasting lifetime sales exceeding 100 million units by 2030
Economists' consensus rating for Nintendo is 'Moderate Buy', representing a potential 9.56 per cent upside
Nintendo stock (OTC Pink:NTDOF) last traded at US$82.88
Welcome to the next level … oh wait, wrong company
It is finally here, Nintendo (OTC Pink:NTDOF) released its long-awaited Switch 2 console this week. People were worried about availability and the price, but all seems to be well as the dust settles from the long lines at retailers from Tokyo to New York.
The next-generation console, priced at C$629.99 to C$699.99, features a larger screen, enhanced graphics, and launches with flagship titles like Mario Kart World.
Demand has been overwhelming. In Japan alone, Nintendo received 2.2 million applications for its lottery-based sales system on the My Nintendo Store. In the U.S., pre-orders at major retailers like Target sold out in under two hours.
Despite concerns about supply chain constraints, Nintendo appears better prepared than during the original Switch launch in 2017. Analysts expect the company to sell 15 million units of the Switch 2 in the current fiscal year, with some forecasting lifetime sales exceeding 100 million units by 2030.
Stock market reaction
Did investor enthusiasm mirror consumer demand? In Japan, Nintendo stock fell 1.99 per cent on launch day but closed 0.44 per cent higher on Friday. Since June 2024, its price has grown 36 per cent on its home turf.
On Wall Street, its stock rose 0.69 per cent by Thursday's close.
Analysts' consensus rating for Nintendo is 'Moderate Buy', based on eight buy, two hold, and one sell rating over the past three months, representing a potential 9.56 per cent upside for the shares to US$93.34, which is US$11 higher than where it is now.
Now you're playing with power
With headquarters in Kyoto, Japan Nintendo Co., Ltd. is a multinational video game company that develops, publishes and releases video games and video game consoles.
Nintendo stock (OTC Pink:NTDOF) last traded at US$82.88 and has risen 46.20 per cent since this time last year.
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