Wii (Wii)Nintendo shares tumble despite stellar earningsReuters - January 28, 2008
Submitted by ItachiItachi (463)
at 7:03AM PST on January 28, 2008
Investors have also been concerned about the impact of a weaker dollar versus the yen, which erodes the profits of exporters like Nintendo when repatriated into the Japanese currency.
The dollar traded on Monday around 106.56 yen, after touching a low of 104.95 yen last week -- the weakest since May 2005.
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The stock sell off following earnings is probably just characteristic of the current market environment. Apple reported the best earnings in its history last week that were well beyond analyst expectations, but the stock has plummeted. It was probably best to take profits on NTDOY when it hit above 70.