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Wii, DS push Nintendo shares to all-time high |
Listed in: Wii, Nintendo DS Tags: Osaka
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A Bloomberg report revealed that electronic entertainment giant Nintendo has pushed its stock to an all-time high with a stellar market performance coming from the DS Lite and Wii.Both the Wii and the DS are the hottest-selling products of their kind, driving Nintendo's earnings to ¥966 billion, which is equivalent to roughly US$ 8.1 billion in the first quarter alone, giving them a net profit to the tune of US$ 1 billion. Nintendo shares now cost ¥37,450 or about US$ 313.32.
Analysts say that one of the factors which made the Nintendo figures higher is the fact that the yen is weakening against the dollar and the Euro at this point. That essentially raises the Japanese currency figures because of the markdown in the value.
"The stock's rally reflects investors' positive sentiment about Nintendo's earnings. The yen's exchange rate has a big impact on the company's net income," says analyst Junichi Misawa.
The recent developments have compelled Nintendo to raise its financial forecasts higher in the next three quarters. If the market trend goes on, Nintendo is likely to post a new record high on market performance since it was registered in Osaka in 1962.
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