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Nintendo Stock Downgrades Due to Dwindling Demand Concerns
2008-03-21 00:38:22 by Shawn Sines in Gaming Today
 

wii_ds.jpgNintendo stock has been downgraded by KBC Securities Japan due to concerns that the demand for the Wii and DS is waning. Shares went from “buy” to “hold” as prices dropped 30% to JPY 57,500 (EUR 371.2 / USD 575.5).

KBC Securities analyst Hiroshi Kamide told Bloomberg the company believes “that it is reasonable to expect a tougher trading environment.”

Although Nintendo has raised its guidance three times over the past year, the rise of the yen will devalue overseas sales.

It’s hard to imagine that demand for the Wii is going to fall off that abruptly over the next fiscal year. More people I know want to buy one than already have one.

via GamesIndustry.biz 

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Tags: nintendo stock, nintendo, nintendo stock gift, nintendo stock continues, demand, devalue overseas sales, wii, concerns, single share
 
 
 
 
 
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