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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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In response to the prompt "does Nintendo Co., Ltd (ADR) (OTC: NTDOY) have enough resources to survive if the NX sells poorly? Must the NX be a hit for the company?" Michael Pachter responded by saying that even if the "NX is a bust, the worst case is that the NX will lose at most half a billion." He reminded that the company has "around 10 billion in cash."
Nintendo has constantly been making money every year since the heyday of Wii in 2010. Nintendo has always "produced great content," Pachter noted, but "failure in hardware has caused loss of third party of support." It's hard for third party companies to create content for consoles that could be discontinued at any time. Third party loss affects the company greatly, and until a more solid and popular console can be released Nintendo won't regain lost ground. The NX will determine whether Nintendo can compete with Sony Corp (ADR) (NYSE: SNE) and Microsoft Corporation (NASDAQ: MSFT).
Virtual Reality
"There's no way I am spending 1,500 for the bare minimum spec oculus," said Pachter, who views virtual reality as something that doesn't have any particular interest for him yet. In addition, the games that have been released are "underwhelming" in Pachter's opinion.
Trading Ideas For Gaming Companies
Pachter views Zynga Inc (NASDAQ: ZNGA) as a place for modest investments that has a potential for high returns. The stock is "positioned to double if their 'Dawn of Titan' scheme works, but don't mortgage your house."
His favorite is Activision Blizzard, Inc. (NASDAQ: ATVI). The stock is up 20 percent after its released earnings in March. This company is going to "generate a lot more profit and revenue from King (King Digital Entertainment) than most investors think," Pachter said. King just released "Candy Crush Jelly" and is doing well and with successful advertisement of King games. Activision could increase its earnings by "something like 50 percent," Pachter noted.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.