Outlook For Third-Party Nintendo Support is Grim
Nintendo suffering stock price fall and lack of confidence
Despite launching the 2DS as a new console recently, and with the 3DS selling well analysts are savaging Nintendo in the Japanese markets.
“The early signs of key first-party software inducing a major turnaround in Wii U console fundamentals are not promising, and the outlook for third-party support is grim,” is the opinion of one Jay Defibaugh, an analyst at CLSA in Tokyo.
He added, according to Bloomberg, said in a report in which he cut the stock to sell from buy. “The value of iconic Nintendo franchises may be declining as younger generations discover gaming through mobile devices."
The report also states that, "The shares fell 8.4 percent to 10,860 yen as of the close of trade in Tokyo, the biggest drop since July 2011. Before today, the Kyoto-based company had gained 31 percent this year amid expectation the transfer of its listing to Tokyo from Osaka may see the stock added to the Nikkei."
Ouch.
“The early signs of key first-party software inducing a major turnaround in Wii U console fundamentals are not promising, and the outlook for third-party support is grim,” is the opinion of one Jay Defibaugh, an analyst at CLSA in Tokyo.
He added, according to Bloomberg, said in a report in which he cut the stock to sell from buy. “The value of iconic Nintendo franchises may be declining as younger generations discover gaming through mobile devices."
The report also states that, "The shares fell 8.4 percent to 10,860 yen as of the close of trade in Tokyo, the biggest drop since July 2011. Before today, the Kyoto-based company had gained 31 percent this year amid expectation the transfer of its listing to Tokyo from Osaka may see the stock added to the Nikkei."
Ouch.
Companies:
Nintendo
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