Nintendo shares still hiking up, fleetingly touched Sony

Posted Jun 29, 2007 at 3:50PM EST by QJ Staff

Listed in: Wii, Nintendo DS Tags: Asia, Gibson, NPD, SCEA, Sony

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And in business and industry news, Nintendo was granted bragging rights recently as the Japanese gaming giant hit an all-time stock high on Monday, June 25, breaking past the worth of Sony Corp. as a whole (and not just SCEA) for one fleeting moment. The company's shares rose 1.5% that day, raising it's capitalization worth to US$ 53 billion.

And although the market closed with Nintendo's shares taking a slight dip, it allowed only a 1% cap from Sony's overall capitalization worth. It appears that while the gaming community was eyeing the console race closely and the media's heartbeat was synced to each move the three big players make, investors have been turning the tide of battle to Nintendo behind the curtains.

Just last fiscal year, Nintendo only managed US$ 7.8 billion in profits, while Sony and its consumer electronics empire (Sony) encompassing movies (Sony Pictures Entertainment), music (Sony Music) and games (Sony Online Entertainment, SCEA, SCEE) pretty much vacuumed US$ 61 billion worth of cash.

According to analysts in Asia, there's much promise in the base of support for the Kyoto-based company's efforts. In fact, while PlayStation 3 fans have reduced their visage of the Nintendo Wii and Nintendo DS as mere toys and Xbox 360 fans have flaunted their superior online gaming capabilities (a feature the Wii has lacked), analysts believe Nintendo is lop-siding the competition in reality, no matter what people choose to believe.

NPD reports, real-time sales numbers, and investor demand for security analysis on the gaming giants has spurred optimistic predictions for the company, including Macquarie Securities analyst David Gibson's forecast of a JPÂ¥ 50,000 (US$ 404) 12-month share target - that's a US$ 40 gap closing for an entire fiscal year and up from last week's JPÂ¥ 44,500 (US$ 361.15).

Other predictions were also favorable over Nintendo's choice to invest more on commercials promoting DS and Wii games, while Wii hardware shipment forecasts were pegged at a positive 17.8 million units, up from 14.2 million, which Gibson believes Nintendo may be able to grab within the present fiscal year alone.

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Nintendo shares still hiking up, fleetingly touched Sony

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