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    Nintendo Innovates

    By
    Oct 06, 2020 | 07:11 pm
    UPDATED Oct 06, 2020 | 08:36 pm
    Mario Kart
    Nintendo

    As Nintendo looks to continue evolving its Switch console, some analysts think the company’s stock could be ready to boom. Shares are approaching an all-time high and are up 30% year-to-date — but Nintendo’s innovation efforts could push it higher.

    Rather than risk new platform development that can lead to boom or bust console cycles, analysts believe new versions of the Switch could be the way forward — think Apple’s iPhone strategy. First up: an augmented reality game with a real-life remote controlled Mario Kart to compete with new Sony and Microsoft consoles this holiday season.

    Nintendo’s Big Year:

    • Hardware sales were up 166% in its April-June quarter.
    • Software sales were up 123% in the quarter.
    • Total revenue was $3.39 billion, with a $1.37 billion operating profit.
    • New “upgraded Switch console” expected in 2021.
    • Animal Crossing: New Horizons has sold more than 22.4 million units since it was released in March.

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