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Well atm Microsoft is still in the game with plenty of third party support so new games will appear more frequent while Nintendo has severe gaming droughts between each retail release. Microsoft can still take the NA market and compete with the PS4 or least put in good numbers this generation if they play their cards right but the Wii U atm seems to be on course to be Nintendo's lowest selling console ever (Virtual Boy excluded)

I'd say atm Microsoft is handling the pressure better because they actually seem to be trying to do things to improve sales while Nintendo is just relying on single game releases to improve sales instead of talking to third party studios and advertising their console more often.