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11.05.26 - 14:45
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Memory Crunch Sends Nintendo Shares Deeper Into Bear Market (ZeroHedge)
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Memory Crunch Sends Nintendo Shares Deeper Into Bear Market
Nintendo shares plunged deeper into bear-market territory Monday after the company's full-year operating income forecast missed Bloomberg Consensus estimates. Traders were spooked on soft Switch 2 hardware and software guidance, and the margin squeeze from surging memory-chip costs continues to weigh on earnings, first pointed out by Goldman in late Decemeber.
Nintendo forecast 16.5 million Switch 2 console sales and 60 million software copies this year, disappointing Wall Street analysts who were expecting a much stronger forecast after the console's launch nearly one year ago. The company warned that memory prices and tariffs could hit the business by about ¥100 billion ($640 million), prompting price hikes of the handheld gaming device.
Nintendo's fourth-quarter results were mixed (courtesy of Bloomberg):
Operating income 59.72 billion yen, +71% y/y, estimate 74.78 billion yen
Net income 65.19 billion yen, +57% y/y, estim...
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