When it comes to the console wars, Nintendo (OTC:NTDOY) (OTC:NTDOF) was something of an odd bird. It spent plenty of time competing with Sony (NYSE:SONY) and Microsoft (NASDAQ:MSFT), but eventually, it went its own way and pursued its own market. It had quite a bit of success and now gained fractionally in Monday afternoon’s trading on word that the latest Nintendo release, the Switch 2, might be on hand sooner than thought.
The latest word suggests that sometime this year, Nintendo will roll out the latest version of its Switch console, which some are calling the Switch 2. That name might change before its launch, certainly, but it’s clear that Nintendo’s eager to get its biggest name characters back into the fray and pulling in cash. The Switch has been a departure in and of itself; part console and part mobile platform, it’s delivered in a big way for Nintendo, sending shares up over 200% in the last seven years since its release. But with Switch sales turning sluggish and the platform starting to show its age, a new platform may be on the way.
So What Will It Be Like?
Reports suggest that the Switch 2 will run around $400 when it is released. Leading the way in predictions is Kantan Games analyst Dr. Serkan Toto, who looks for the Switch 2 to emerge in time for 2024 holiday shopping. Toto also confirmed the rumors about a Switch Pro in development, though how much that will have to do with the Switch 2 isn’t clear. Finally, Toto looks for the games to average around $70 but for the hardware to be cheaper, as noted previously, using a kind of “loss-leader” strategy.
Is Nintendo Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on NTDOY stock based on one Buy and one Hold assigned in the past three months, as indicated by the graphic below. This comes after a 21.84% rally in its share price over the past year.
