00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Nintendo shares fell 7% in Tokyo on Monday after the company raised Switch 2 prices
00:08and issued guidance that underwhelmed investors, according to Reuters.
00:13Nintendo said the Japanese-language Switch 2 Japan model will rise by 10,000 yen starting May 25th,
00:20while prices in markets including the U.S. will increase from September 1st.
00:25The company posted strong hardware sales for the year ended March,
00:28but forecast a year-over-year decline in game shipments.
00:32Analysts said investors are concerned about Nintendo's software pipeline and lack of major blockbuster titles.
00:38Jefferies analyst Atul Goyal said Nintendo could release a major Mario game this year
00:43and noted the company has exceeded initial operating profit guidance in each of the last four fiscal years.
00:49Analysts said Sony is better positioned than Nintendo to absorb rising memory chip costs
00:54because of its more diversified business and the longer market presence of the PlayStation 5.
00:59For all things money, visit Benzinga.com.
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