PS5, Switch Sales Drive Sony And Nintendo Stock To Highest Point In Over A Decade
The success of the Nintendo Switch and Sony PS5 has driven both companies to Wii- and PS2-like stock numbers.
Nintendo and Sony are both riding high this holiday season thanks to the success of the Nintendo Switch and PlayStation 5, respectively. Both companies have risen to their highest point since their most successful consoles have been on the market.
Bloomberg reports that Nintendo shares rose 6.6% to a high of ¥67,850 ($647.97) per share. That represented the highest stock price for Nintendo since December 2007, when the company was enjoying the success of the Wii's first year. Similarly, Sony rose 2.66% to ¥10,025 ($95.67) per share, the highest point since 2001 during the booming success of the PlayStation 2.
Nintendo Switch has been continuing a steady stream of success this year, especially amid the pandemic that has driven families to seek more avenues of virtual entertainment. Last month it outsold both the PS5 and Xbox Series X|S, though those new consoles were notably supply-constrained and may have sold more otherwise.
PlayStation 5 generated the most dollar sales. This also represented the highest month dollar sales for a hardware platform in US history, surpassing the previous record set by the PS4 in November 2013.
The November sales results also revealed that Nintendo had sold 6.92 million Switch consoles in the US so far, surpassing the 2019 total before even counting December's sales figures.