Interesting points from this Bloomberg Article 

“They’ve been losing their core customer,” said Michael Pachter, an analyst at Wedbush Morgan Securities in Los Angeles, about Nintendo. “The 45-year-old housewife who bought Wii Fit is playing Farmville, and those in the handheld casual market are playing on the iPad and smartphones.” 

“It’s beginning to look like Nintendo is falling behind the times,” said Tomoaki Kawasaki, an analyst at Cosmo Securities Co. with a "neutral" rating on Nintendo. “The company is probably overdue for a business model change.” 

The general points are that casual consumers are increasingly turning towards cheaper, more accesible games on items such as cell phones, and ipods. 

I think Nintendo realises this, and so is moving more towards the core to help cover the risk. The problem is that they don't seem to have moved enough to warrant a large core support. 

I still believe the Wii U will perform well (60-75M) due to the Nintendo brand name and the Nintendo games, but does anyone else believe that this could be Nintendo's last traditional project? 

Does Pachter ever have anything positive to say about Nintendo anymore?

They're trying to appeal to everyone with the Wii U. How is that outdated?

As soon as I saw Pachter's name in that article I knew there was no point in taking it seriously.

It's like Reggie stole his lunch money or something. He's been bitching about them for a few years now.

I do believe there are some things they are doing way wrong, and their market is becoming more difficult, but:

1. As business owner, look where I am (actually where most companies are, including very big ones) and where they are

2. As far as I can tell, business-wise their competitors (except maybe Apple, if you deem them a competitor) are in a far worse position and have been doing far more business mistakes.

Man, I want to be an analist... sorry analyst, too! Where can I apply? You can talk whatever crap you want and you can change your opinion as often as you want (and when enough time passes nobody remembers the old false predictions any more anyway... and if you spread your predictions far enough some of them are bound to be correct). And you get paid a lot. Dream job.

...

Meh.

I think Iwata also gave him wedgies.

That bastard! Ninja wedgies are the worst!

Here is an interesting thing that many of Nintendo's most vocal critics don't seem to be able to understand, people (even those who were arbitrarily labeled as "casual gamers") can own and enjoy multiple devices that play videogames on them ... My sister would be classified as a "casual gamer" based on her typical game choices, and she plays games like Words with Friends and Farmville on her iPhone but also owns a 3DS and bought Zelda for it.

I knew I couldn't take this seriously, when I saw Pachter's name in the op