Whatever your opinion on Nintendo's new console reveal, the Switch Lite appears to have investors of the company rather excited.
According to the Financial Times, the Switch Lite reveal caused stock to rise by as much as 4.5% today, reaching ¥41,780 at its peak. This leaves Nintendo's shares at a nine-month high.
It's easy to see why investors would be excited by the new product; costing $100 less than the original Switch model, the Switch Lite looks like a perfect way to snap up a younger audience or families who would be put off by a higher price point. Kantan Games analyst, Dr. Serkan Toto, has said the following:
“Investors should see the Switch as way for Nintendo to substantially increase the install base and prolong the life-cycle of the console for years.
This device will be a mega hit."
Wedbush Securities analyst Michael Pachter expects the console to be supply constrained towards the end of year, estimating that it will ship 8.5 million units during this fiscal year and 11.5 million the following year. He described the Switch Lite as “the right product at the right time.”
Do you agree? Do you think the Switch Lite will go on to be a huge success? We're still listening to all your Switch Lite thoughts in the comments.
http://www.nintendolife.com/news/2019/07/switch_lite_reveal_sees_nintendo_shares_soar_to_highest_point_in_nine_months
2019-07-11 10:00:00Z
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