Nintendo's investors didn't approve of the console's initial reveal in January, but the hybrid-handheld console has since enjoyed massive success across the globe. Now investors and analysts alike have warmed up to the Switch, and Nintendo has reaped serious long-term exposure and revenue.
The Nintendo Switch has not only smashed sales records left and right, becoming the Japanese console-maker's fastest-selling console in its entire history, and the console has completely changed Nintendo's once-dire situation. Following the Wii U's failure, Nintendo's stock was beleaguered and the company was used to constant quarterly losses. Thanks to the Switch those days are long gone.
In fact, Jefferies equity analyst Atul Goyal notes that Nintendo's stock has risen by almost 20% since the Switch's reveal on March 3.
The company's stock rose by 3,345 JPY since the Nintendo Switch's debut, and shares have seen a steady rise over the seven weeks of the console's market availability. Investors are quite impressed with the console's performance and are eager to see how Nintendo's software roadmap will continue this trend throughout the next fiscal year (FY2018).
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Jefferies analyst Goyal notes that the Switch should enjoy consistent and steady success due to its software lineup, which consists of a "treasure trove" of first-party and third-party games.
"We believe that its IP treasure trove is unparalleled and this could be monetized in several ways," Goyal said in the firm's latest report.
According to data from research firm SuperData, Nintendo sold a total of 2.4 million Switch consoles worldwide in its first month. Nintendo President Tatsumi Kimishima said in January the company planned to sell 2 million consoles from March 3 to March 31, and the company not only met the goal but exceeded it by 400,000 units.
Nintendo is expected to reveal exact Switch console sales figures and quarterly earnings during its Fiscal Year 2017 earnings report on April 27.