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The Market Online
4 days ago
- Business
- The Market Online
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. Join the discussion: Find out what everybody's saying about this stock on the Nintendo Bullboard, and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Kyodo News
6 days ago
- Entertainment
- Kyodo News
Nintendo releases Switch 2 console to strong demand
KYODO NEWS - 21 minutes ago - 13:28 | All, Japan Nintendo Co. on Thursday released the Switch 2, its first new gaming console in more than eight years, with robust preorder demand creating optimism the device will boost the company's fortunes. The Kyoto-based gaming giant expects to sell 15 million units of the device globally in the current business year through March. Nintendo said in April it attracted larger-than-expected preorder interest, with some 2.2 million people in Japan applying for a lottery in hopes of securing one at release. The successor to the original Switch, released in March 2017, is priced at 49,980 yen ($350) for the Japanese-only version. The multilanguage version of the device is available for 69,980 yen. The new console includes new features such as screen sharing and voice chat via a built-in microphone. It also features a larger screen with roughly twice the pixel count of the original Switch and supports 4K output on televisions. Along with the console, the company released the "Mario Kart World" game, its latest installment of the popular racing series. In Tokyo, dozens of people who won the lottery lined up in the morning before the opening of an electronics store in the Ikebukuro area. "It's great that players can see each other while playing. I can't wait to go home and play," said Koji Takahashi from Saitama Prefecture, who was first in line after arriving before 6 a.m. Satoshi Ayame was unsuccessful in the lottery but went to the store's release event to get hands-on experience with the long-awaited console. "I took a half-day off because I wanted to try this so bad," the 39-year-old said. Reflecting the solid interest in the Switch 2, Nintendo said in May that it expects the company's sales for fiscal 2025 to jump 63.1 percent from the previous year to 1.9 trillion yen. President Shuntaro Furukawa said it will increase production of the new device in response to the strong demand. The Switch has been one of Nintendo's best-performing consoles, with more than 150 million units moved. However, it has seen declining sales in recent years as the hardware aged after peaking at 28.8 million units in fiscal 2020. Related coverage: Nintendo to release Switch 2 console on June 5 for 49,980 yen Japanese game maker Sega opens 1st permanent shop in Shanghai
