Nintendo stocks surge following E3 2017

Nintendo stock surges to highest point since 2008, up 145.42% year-over-year.

1 minute & 23 seconds read time

E3 2017 - Nintendo's high-profile E3 2017 showcase has had a strong effect on its stock, sending its shares to their highest point in years.

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Shares of Japanese console-maker Nintendo have risen once again on the back of a successful games reveal stream, this time centered around its new Switch console-handheld hybrid.

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Nintendo company shares are now at their highest point since 2008 thanks to the strong community buzz driven by a slew of heavy-hitters like a new mainline Pokemon RPG for the Switch, Fire Emblem Warriors, Xenoblade Chronicles 2, Mario + Rabbids: Kingdom Battle, a new Kirby and Yoshi game, the massively anticipated Mario Odyssey, and the big surprise of Metroid Prime 4.

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Nintendo stock has steadily risen since the company's E3 2017 livestream. The shares currently sit at 36,040 yen, up 145.42% year-over-year from 14,685 yen on June 16, 2016.

The company has also just released it's next major first-party Switch exclusive ARMS, which has garnered favorable reception from the media and console playerbase.

Nintendo President Tatsumi Kimishima says the company plans to ship 10 million Switch units this fiscal year ending March 2018, bringing the total install base to 12.74 million units. Analysts predict Nintendo could ship as many as 14.5 million units, provided it can manufacture and supply enough consoles.

Nintendo is currently competing against industry juggernauts like Apple and Samsung for dwindling supply of key mobile components for its Switch machine, and the short supply is expected to last throughout the year.

In a single month the Switch sold 2.74 million units and helped tremendously boost Nintendo's 2016 profits by 521%.

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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