iBankCoin
Joined Jan 27, 2008
7,406 Blog Posts

$NTDOY Nintendo Raises Expectations For Switch Console Sales

Let me first just say I finished an epic weekend with my oldest daughter playing Mario on the Switch, while binge watching Stranger Things 2. Indeed, what a time it is to be alive for the 80s babies.  Seriously though, $NTDOY has a huge hit with this new Mario game, and WOW I’m already amp’d up for Stranger Things 3, very bullish on $NFLX.

But, let’s get back to Nintendo. My position, and STOCK OF THE YEAR, is up well over 100% for the year, and I’m looking for more. Here’s the latest from the company on their switch console:

The Kyoto-based company nearly doubled its full-year operating profit forecast Monday Oct. 30, as concerns of supply shortages for its Switch video game console continue to abate.

Nintendo reported fiscal second quarter earnings of 28 cents per share Monday, which was double what analysts polled by FactSet expected. Sales of $1.93 million also topped analysts’ expectation of $1.53 million.

Switch, which launched in March, is a hybrid home-portable gaming system. Shortly after it was released, Nintendo stock soared to a nine-year high. Sales of the Switch device rocketed past estimates, leaving suppliers scrambling to score enough parts to keep up with consumers.

In an earnings brief, Nintendo President Tatsumi Kimishima said the company “boosted Switch production to meet strong demand as it was difficult for customers to buy the consoles at retail stores.”

Clear skies ahead for $NTDOY:

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5 comments

  1. Operator

    Nice one RC! NFLX is a staple in our household. We’re ditching DirecTV next month. We’ll be streaming only.

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  2. DaJuice

    Great call on that stock earlier this year, glad I jumped in there with you!

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  3. Noni Kavuri

    RC,

    What are you thoughts on $TWTR. There is a pullback going on after that ridiculous run up after earnings, you think we see $25 by year end?

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  4. VeggasDoggy

    RC, bailed on HMNY for break even a couple days ago. Thinking of re-entering for some unexpected pop but at this point that is rolling the dice. Are you still in? Anything else peaking your interest today?

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