Analysts' speculation that Wii maker will revise its guidance upward sends shares climbing 7.8 percent.
Last week, Nintendo's stock price hit a record high of ¥71,300 (around $624 at today's exchange rate). That peak helped the company reach a record market value of ¥10 trillion ($85 billion), the third largest for a Japanese company. However, in the past few days, the stock declined thanks to some shareholders taking profits on the company's fivefold increase in share value since 2005.
Today, though, Nintendo's stock price came roaring back, increasing 7.8 percent in a single day to close at ¥68,800 (about $600). According to the Bloomberg news service, the bounce was the largest since July 26. It came thanks to several Tokyo-based analysts who predicted that on Thursday, the Kyoto-based company will increase its full-year profit forecast.
"An upward revision of full-year earnings targets is likely,'' KBC Securities Japan's Hiroshi Kamide told Bloomberg. "It's natural that expectations are high ahead of the year-end shopping season."
Though Japanese Nintendo officials declined to comment on the analysts' speculation, Nintendo has hardly been shy about saying that its DS handheld and Wii console are in high demand. Earlier this month, Nintendo of America president and CEO Reggie Fils-Aime told the San Jose Mercury News that his company won't meet North American Wii demand until early 2008.
now that theyve proven that software that appeals to the general public is a money rake-inner. i feel if more american technology companies are formed like apple and nintendo who take care of hardware/software problems pretty well. america becoming almost if not comparable to japan in electronics would boost the american economy back to what it was in the 60s. if the european market does the same the world will be rich. accessible and easy to use software is where the money is at. DAMN!
kratos_karmakar some one place a magnum to my forehead and blow my brains all over the carpet. plz o pretty plz ---------------------------------------------------------------------------------------------- Gladly.
Well, they HAVe begun to ship big titles (metroid prime 3, Zelda TP)... but the bigger ones are on the horizon, which will set the console into "impossible to find" mode. Cant wait for Galaxy tho.
And they havent even begun to release the big titles. Super Mario Galaxy, SSMB, Mario Kart. My guess is Sony and MS are pretty annoyed right now :)
Compared to David and Goliath, David (Wii) seems to be kicking Ass...Now Who would be Goliath PS3 or X360? hmm.......
for the first time ever last week, I saw 4 Wii on shelf in Best Buy. I bet they were gone by days' end though
Wow, Nintendo is the only profitable console maker right now. Granted Microsoft and Sony are profitable companies, but their game divisions continue to lose money. CNN just reported Sony just lost over 800 million this quarter for the games division and won't be profitable until 2009. Even when Gamecube was in third place, Nintendo was still making money.
Good news all around. With all of the great games already out, and coming out soon, they are bound to be raking in even more moolah.
Despite what the MS and Sony fanboys say, the Wii is a huge success and word of mouth around here is that lots of people still want the Wii.
Happy to see the only true gaming company doing so well. imo the company only focusing on gaming should be up there at the top.
Like I have said before, the Wii offered something new. What's new sales. Not constant updates of tried and true formulas. Those of use who have played Metroid Prime 3 understand how video games are changing.
So what is it you detractors consider a "good game"? Because I'm getting a kick out of MLB Power Pros and Zack and Wiki. Both great recent Wii games.
True but the Wii's current lineup isn't the best and some of the best games for older nintendo consoles are not yet virtualised.
Keep strong, Nintendo. The better each company, system, and library gets, the better it becomes for us gamers as a whole.
Symphony_Six "Nintendo is the 3rd most valuable company in japan. Nintendo doesnt make tvs, or cars, nope. all they make is gaming products. Nintendo = last true gaming company, so im happy to see them doing well" ----------------------------------------------------- CO-SIGN
Where's the negetive hype machine now? The nay sayers hated on the Wii since it was called Revolution. It's a kiddie box, Nintendo only makes kiddie games...
The Wii is not only supposed to be an aid for casual gamers, but I remember Nintendo talking about the Revolution being the next generation of ergonomics of gaming. I wish developers would try to make it feel like you were in the game instead of being the gimmick people plague the Wii to be. It seemed the image of the newest Nintendo console changed with the name...
this figures...the "mario factory" is cleaning up on the wii....man...i dont get why ppl buy it? i havent touched mine since Dec. 2006
"but where are the good games? seriously" Haven't looked at the upcoming games these next two months have you or the titles already out?
You know am I the only person who bought a Wii and is thinking where the hell are the games? I mean there are games out but they are mediocre as all hell.
look how good wiis doing. now imagine when 3rd party companies make good games. its going to skyrocket.
Old prof, at least they're not pulling a sony and making promises that they can't keep. Like the original PS3 specs and the ones we ened up with. Remember about it having 2 HDMI outputs for Split Screen, a Network Hub FULL BACKWARD COMPATIBILITY with ALL PS1 & PS2 games per chance? Or how about Toy story graphics on the PS2? Nintendo have done no such thing and have instead done a good job of geting back in the game, pardon the pun.
that guy that said that nintendo deserves it is right. the last generation it got beat up about being a lame duck and the worst console. they had the game of the year for alot of the publications and they still got ragged on. i heard alot of people say that they would take the road of sega and go under with the new console, but low and behold they had the number 1 selling console for a year. shows that if you put more effort into making a good console, not just jam a bunch of features in, you get a better console. props nintendo.
OldProf Nintendo is just making hype for themselves. --------- Indeed but it's ok when it's legitimate. You can make hype about you and your products when everything you make is being sold. Unlike "some" rival compagny that is saying it's console is a success and that they have sent millions of those to the resellers, while nobody is buying and you can find some everywhere.
I live in eastern Canada and I'm starting to see Wii consoles sitting on store shelves. I think there will be plenty of product this Christmas in our region.
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