Goldman Sachs wants Nintendo something fierce today. Like, seriously, get a ridiculously expensive Ritz-Carlton penthouse room already.
Goldman Sachs believes the Wii and DS maker can approach Apple-like levels of success because of its “innovative business model.” Nintendo may also raise its earnings forecast again. According to Reuters, Nintendo shares hit a record high on Wednesday thanks in part to Goldman Sachs, which initiated coverage with a “Buy” rating, and further speculation the house of Mario could soon raise its earnings forecast again. Nintendo shares on Wednesday rose as high as 64,800 yen, which is an all-time high for the company. The stock closed up 2.7 percent at 64,300 yen. “We believe Nintendo’s talent in creating new markets, evident from the launch of the DS and Wii, could bring it close to the level of Apple, whose high valuations are due in large part to its innovative business model,” Goldman Sachs stated in a report.
Keep in mind that this analysis is being given BEFORE Super Mario Galaxy and Smash Bros. Brawl hit the streets; the former title having caused a collective love explosion across the Internet when it’s colorful intro debuted yesterday afternoon. Truly, a crazy, crazy time to be involved in gaming (I think the Goldman Sachs fellas probably just finished up a round of Phantom Hourglass and couldn’t see straight when they wrote this today).