Yes, as stated, Nintendo is the only major corporation that basically solely relies on the state of the gaming industry. Sony and Microsoft only have one department each that relies on the gaming industry so making decisions on said industry in buying their stocks would be pretty dumb.
That being said, since Nintendo is faring the worst in the industry space right now, I don't think it's necessarily a good time now either. It could go either way. It is a risky purchase because their survival as a major corporation and not devolving into a major publisher only depends largely on how their next console fares. If it does well, even entering a solid competition, then they are undervalued right now. If it's another gimmicky, expensive, and under-marketed failure then you'd be throwing your money away.
So their logic that a company relying on the success of the gaming industry should do well in a bull gaming industry market may make since. But the two do not necessarily correlate since the reason the market is exploding right now is largely due to the efforts of the original Wii and the quality that the other consoles are putting out. Think about the 5th console generation for an example. The industry had a major growth spurt with the introduction of the PS1 and the N64. But Sega did really poorly during that generation and their stocks plummeted thanks to the myriad mistakes on the Saturn that caused it to sell less than 10 million units in the generation. Now, they were in a very similar position to the WiiU. People could have easily said that since the gaming market was so strong that Sega was a great buy in a bull market. Had the dreamcast blown up in sales, that would have been true but I think everyone here knows what happened.
The WiiU is doing marginally better than they did last year this time. But so is every other platform. In 2013 they only sold 3.1 million units and so far with the numbers we have going into December they've only reached 3.2 million units. Compare this to the PS4 that has sold 13.8 million units this year so far and the XBO that has sold 7.6 million.
This isn't a growing explosive brand that is taking advantage of the bull market. This is a stagnating produc that isn't even likely to have had a 25% increase in sales this year.
So, which company would I invest in for the gaming industry? None of them. But especially not Nintendo. If the next console they announce has buzz behind it, I'd consider investing then. But sure as hell not now.
