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Nintendo stock reaches a record high

Filed under: Nintendo | Video Game Business
Posted by Lunabean on October 3, 2007 9:38 AM
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Shares in Nintendo rose to an all-time high today of 64,800 yen (US$556) before closing a 64,000 yen (US$555). The 2.7% surge took place after leading financial analyst firm Goldman Sachs raised Nintendo's rating to "buy".

In addition to the boost in the stock rating, Nintendo's bump is also aided by much investor speculation that the Mario factory will raise its earnings forecast for the second time this year (something the company did last year, too). In July Nintendo boosted its operating profit forecast to 370 billion yen (US$3.2 billion) for the year to March. A poll of 18 leading analysts believes that number will be closer to 410 billion yen (US$3.6 billion) because of such strong hardware and software sales.

Good for Nintendo, the company that is now the third most valuable company in Japan (behind only Toyota and Mitsubishi), and good for leading financial analysts, who finally caught up with what we have been saying for over a year. ;)

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