Nintendo Shares Reach All-time High

October 3rd, 2007, 20:40 Posted By: Shrygue

via IGN

Nintendo's Japanese share value has hit an all-time high as Goldman Sachs slapped a 'buy' rating on the company. Goldman Sachs also noted Nintendo's ability to create new markets "could bring it close to the level of Apple".

Shares in the publisher rose to 64,800 Yen (roughly 274 GBP) before closing at 64,300 Yen (about 272 GBP) on the Japanese stock market yesterday, as reported by Reuters. Once again, strong sales of both Wii and DS were cited as the reason behind the buying frenzy. However, Goldman Sachs predicts that Nintendo's value could sky rocket to 71,000 Yen.

Shares were also boosted by investor speculation that Nintendo is set to raise its earnings forecast, for the third time this financial year. Apparently, there's no end to the public's demand for Wii-mote waggling and stylus stroking.

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