Nintendo’s Record Gain Tested in Wait for ‘Switch 2’: Tech Watch
- Trades more expensive than peers, at big premium to consensus
- ‘The share price looks overvalued,’ Goldman’s Munakata says
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Nintendo Co.’s recent climb to a record high is looking increasingly stretched as investors wait for news on the successor to its aging Switch game console.
Shares of the Mario and Zelda creator have soared 48% in the past year, compared with a 29% gain in Topix. Expectations for a new machine that some have already dubbed “Switch 2” has fueled gains, though there has been no official word yet from the company. Hope for more popular films featuring Nintendo characters and the ongoing boom in Japan’s stock market have also contributed.