Analyst Advises Buying Nintendo Stock Despite Loses
Nintendo recently announced they'll be lowering their profit projections by a massive 82%, which is another way of saying that the company is not making nearly as much money as they thought they would. With the Wii U a ways off and the already struggling 3DS soon to face competition from Sony's Vita, now does not seem like the time to invest. Yet Game Trader CEO Asif Khan thinks now could be the time to pick up a still-promising brand at low-low prices.
Asif writes "Nintendo finds itself on the brink of failure, and it is mostly their own fault. Planned obsolescence, incremental innovation, and proprietary intertwining of their products and services has left them with very little goodwill. I remember another technology company with an iconic brand and very similar strategy that had fallen on hard times back in 1997, Apple."
Could Nintendo get back to the innovative strategies that once put them on top? Or will they continue to make glaring design blunders like the 3DS's missing thumbstick? Nintendo stock owners, you may wish to diversify your portfolio, unless you feel like taking a big risk on the Apple levels of money (coins?) possibly waiting around the corner.