nintendo switch

Report: Nintendo Switch Reveal Announcement Raised Nintendo's Market Value By $1 Billion

by Elise Favis on Oct 20, 2016 at 07:40 AM

Yesterday evening, Nintendo teased that it would finally reveal the elusive NX console. Today, we found out that its official name is the Nintendo Switch, along with several of its features including a play-and-go functionality and that it uses cartridge-based games. The anticipation for this reveal was huge, and the announcement that a teaser was on its way made Nintendo's stock rise by more than $1 billion overnight.

According to Bloomberg, who spoke to analyst David Gibson from Macquarie Securities, he believes that the Nintendo Switch will cost around $250, along with a prediction of selling 2.5 million units in its first month and 10.6 million by March 2018. Keep in mind that these are estimates, which will likely fluctuate and change going forward.

You can watch the reveal trailer for the Nintendo Switch by heading here.

[Source: Bloomberg]

Our Take
According to the Bloomberg report, Nintendo's stock has increased by 50% this year, likely do to successes such as Miitomo and Pokémon Go. I'd be curious to see if these numbers continue to rise now following the reveal of the Nintendo Switch earlier today.