Nintendo Switch
Image: Nintendo

Despite the arrival of the PlayStation 5 and Xbox Series X, demand for the Switch is higher than ever – and it has caused Nintendo's share value to jump to the highest level since December 2007 – a period when the Wii was king of the living room.

Nintendo's share value rose 6.6% on the Tokyo Stock Exchange today, a spike which has much to do with the incredible demand for the Switch console, which has sold 68.30 million units as of September 30th this year.

It's not just Nintendo which is seeing a rise in its share value, however; Sony also reached a personal record, moving past the 10,000 yen-per-share mark for the first time since 2001.

Speaking to Bloomberg, Toyo Securities Co. strategist Ryuta Otsuka said:

Investors have their attention toward game makers amid the recent coronavirus spread and the upcoming Christmas season.

The ongoing COVID-19 pandemic has definitely had an impact on console sales this year; Japanese combined hardware and software sales rose by 5.5% in November compared with the same month in 2019, according to SMBC Nikko analyst Eiji Maeda.