MSFT - Nintendo weighing its own next-gen console; shares rise 3%

Nintendo (OTCPK:NTDOY) is weighing its own next-generation videogame console in order to compete with new models from rivals. Shares are up 3.4% in U.S. trading today. The company has gotten off-cycle with console rivals Sony (SONY +0.9%) and Microsoft (NASDAQ:MSFT), which released the newest PlayStation 5 and Xbox Series X/S models last November. Nintendo's current-generation Switch console was released in March 2017, and has seen some small modifications along the way, including the Switch Lite and an OLED display model. Now Nintendo President Shuntaro Furukawa says at a strategy briefing that a new generation is under consideration. Many existing Switch owners are upgrading to purchase the OLED model, he says. He adds the company may consider a buyback when that's appropriate to do, and that it will prioritize organic growth rather than merger/acquisition activity. Macquarie downgraded the stock to Neutral, pointing to weaker than expected results in Q2 based on

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Nintendo weighing its own next-gen console; shares rise 3%