It almost happened last week, but today it finally did: Nintendo was (briefly) worth more money than Sony! Some people might call that nothing to write home about, or a Monday, or whatever. But not me. For me this is all akin to the holiday season in December, or buying a puppy. Or receiving a puppy on Christmas. And it’s a Nintendog. Holding a bag of money.
Reuters, live from Tokyo:
Nintendo Co. Ltd. briefly zipped past Sony Corp. in market capitalization on Monday to become one of Japan’s 10 most valuable companies as it elbows the PlayStation maker out of its decade-long dominance of the game industry.
And Nintendo is quickly starting to look like Microsoft with every passing day in the stock market. No, this doesn’t mean they’re going to start pumping out colossal failures like the Zune, but it does mean that anyone who took a leap of faith back in 2004 and bought up a bunch of Nintendo stock is a very rich person right now. Same thing with MS in the 1980s. Even their janitors were sporting the bling. Get it?
Unfortunately that’s not me. The only “stock” I own in Nintendo is the hardware it produces. It’s not stock in the typical sense, but if Nintendo tanks and its consoles fail, I’m going to be in the possession of some very expensive — yet worthless — pieces of technology. See? Just like stock, with the added bonus of a locked down proprietary system and without the potential for mad profits (Nintendo’s 1-year low for stock price today was 142% above last year’s low).