Is Nintendo Stock a Buy?
Nintendo (OTC: NTDOY) stock has more than doubled in value since the Switch game system launched in March 2017. Sony (NYSE: SNE) and Microsoft (NASDAQ: MSFT) just launched powerful new gaming consoles, but Nintendo is poised to maintain its momentum as major retailers are reported to be having a difficult time keeping Switch on store shelves.
Here's why Nintendo stock is still a top pick in the gaming industry.
On the eve of the highly anticipated launch of Sony's PlayStation 5 and Microsoft's Xbox Series X, NPD Group's sales data for October showed that Nintendo Switch had one of the biggest sales months in video game console history. Nintendo sold 735,000 units last month, a stellar increase of 136% year over year. That performance came in second to one of the most popular consoles of all time, the Nintendo Wii, which sold 805,000 units in October 2008.
Source Fool.com
