Pachter: 'I don't hate Nintendo'
Michael Pachter doesn't hate Nintendo, he just doesn't think it's a good investment.
"I think that they have missed several opportunities on the hardware side, waited too long to provide multiplayer options and generally have alienated third party publishers across the board. Each of those missteps is likely to cost them in the next console generation," he told Nintendo Life.
Never one to shy away from controversy, Pachter explained that the harsh feedback he receives from gamers -- Nintendo fanboys in particular -- is just part of his job. "Investors tend to behave rationally, so they accept my comments as rational and thoughtful. People who have an affinity for brands — or a political party, or a religion, or an alma mater — tend to be less rational and more emotional. It’s part of the job."
"Nintendo blew it by ignoring online multiplayer until 2012. That’s why I thought we would see a Wii HD in 2009 or 2010, because it was time for them to get serious about competing with Sony and Microsoft," he added, returning to the topic of Nintendo being a bad investment. "I’m not sure that they can recover and think that they may have blown it on the console side forever. I think that they should consider exiting the console business — but keep the handheld side — unless they have a clear plan for success. “Be patient” is not a clear plan for success."
"As long as Satoru Iwata is president, I expect Nintendo to continue to do exactly what it is doing," Pachter concluded. "As long as Nintendo continues to do what it is doing, I don’t expect the stock to be attractive to investors."