The Nintendo juggernaut continues to steamroll its way into the record books by continuing to rack up big sales for its DS and Wii. The Wall Street geeks have apparently noticed this too as Goldman Sachs has sent out the word to its investors that Nintendo stock is now a "buy." Can you say "duh?"
Immediately after this great tip, (sarcasm), Nintendo stocks went sky high and set a record for Mario shares at JPY 64,800 (about 555 USD or 274 GBP).
Goldman Sachs alluded to the idea that Sony has been toppled from its game console and music dominance by Nintendo and Apple through innovation and smart marketing.
"We believe Nintendo’s talent in creating new markets, evident from the launch of the DS and Wii, could bring it close to the level of Apple, whose high valuations are due in large part to its innovative business model."
The statement which praises Apple for its "innovative business model" certainly speaks volumes if they are directly comparing it to Sony’s past performance in pitching the PS3 to the consumer.
