Analyst: Nintendo has been “left for dead” by investors this year
Nintendo has been “left for dead” by investors this year according to Asif Khan, CEO of Panoptic Management Consultants.
Such a sentiment is an immediate reaction to Nintendo’s stock falling by two percent today, amidst confusion as to whether legendary game designer Shigeru Miyamoto was set to retire.
Nintendo’s share price fell to a five year low this year, with the announcement of the Nintendo 3DS price cut similarly seeing shares fall by twelve percent as investors lost confidence in the handheld, and even the Wii U reveal at E3 ’11 saw a five percent dip.
“Nintendo has been left for dead by investors this year”, Khan stated. “It would be a bigger story if Miyamoto left to work for Microsoft. The man is 59 years old, and eventually all people retire and/or die. The mark he has left on the video gaming industry will not disappear overnight.
“Nintendo has international brands and a playbook for how to exploit them; if you think that one man is responsible for their success you are very mistaken. He said in his interview that he has been preparing his younger developers to take the reigns for some time now, and I take him for his word.
“Steve Jobs put together a great team to achieve the success we have seen at Apple, and I have no doubt that Miyamoto and Iwata have done the same. Nintendo has been around since 1889, and I don’t think they plan on rolling over and dying even if that is the consensus in investing and media circles.”
[Thanks Industry Gamers via GoNintendo]