7 days ago
Nintendo Stock (NTDOF) Jumps Despite Switch 2 Backward Compatibility Issues
Video game company Nintendo (NTDOY) has updated its list of backward compatible Switch games and apps for the Switch 2. This update showed that the vast majority of Switch games and apps will work on the Switch 2. However, some will need updates from developers, while others are missing completely.
Confident Investing Starts Here:
Here are a few notable games and apps with startup issues on the Switch 2 that need to be resolved.
Final Fantasy
Neverwinter Nights: Enhanced Edition
NieR:Automata The End of YoRHa Edition
Warframe
Wolfenstein II: The New Colossus
YouTube
And here is a list of games and apps that are incompatible with the Switch 2.
Nintendo Labo Toy-Con 04: VR Kit
Niconico
ABEMA
Hulu
Crunchyroll
InkyPen
It's unclear if some of these apps will get updates that allow them to operate on the Switch 2, or if they will remain exclusive to the original Switch.
What Does This Mean for Nintendo Stock?
With more than 15,000 Switch games and apps confirmed to be compatible with the Switch 2, the few apps not making the move likely won't hurt the upcoming game console's sales or Nintendo's stock. It's also worth noting that games and apps with startup issues are being investigated by their developers, and will likely have update patches for compatibility around the time the Switch 2 is released, which is June 5.
Hammering this point home is Nintendo's stock movement today. Shares of NTDOF are up 4.19% on Tuesday, continuing a 47.17% year-to-date rally and 58.14% increase over the last 12 months.
Is Nintendo Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts' consensus rating for Nintendo is Moderate Buy, based on seven Buy, one Hold, and one Sell ratings over the past three months. With that comes an average NTDOF stock price target of $89.59, representing a potential 4.54% upside for the shares.
