Nintendo shares hit all-time high

Shares in Nintendo hit a record high this morning as speculation grew that the company could raise its earnings forecast for the second time this year.

Reuters

reports that the Kyoto-based firm’s shares peaked at 64,800 yen (€394) – an all time high – before eventually closing at 64,300 yen (€391).

Global investment firm Goldman Sachs gave Nintendo a ‘buy’ rating as a result, comparing its success to that of Apple and its iPod.

‘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 said in a report.