"Let The Games Begin": Nintendo Switch 2 Launches With Retail Frenzy As Goldman Reaffirms Bullish Outlook

Gaming fans across the US lined up outside electronics retailers overnight to get their hands on the new Nintendo Switch 2. Nintendo of America posted on X, "Let the games begin!" to mark the launch. Long lines were seen outside GameStop and Best Buy stores, with some locations having over 200 people waiting. Despite the crowds, many stores had sufficient stock, with one Best Buy in Austin having over 120 systems available. The launch has been highly anticipated, with a gaming analyst from Goldman, Minami Munakata, taking a bullish stance on Nintendo's prospects. Munakata has raised her earnings estimates for Nintendo, citing higher revenue per console and a strong software pipeline. She expects the Switch 2 to "unlock dormant hardware and dormant users" and drive record-high active console numbers. The analyst has a "Buy" rating on Nintendo with a 12-month price target of ¥14,500. Nintendo shares have been struggling to sustain a price of ¥12,000 in Tokyo, but the successful launch of the Switch 2 could boost the stock. The first sales data for the Switch 2 is expected to be available in about a week.