Nintendo 's market capitalization hit 5.44 trillion yen ($48.9 billion) on Friday, surpassing Sony's for the first time in 11 months, as the soaring popularity of its Switch console drew investors to the game developer's stock.
The Kyoto-based company's market cap reached the highest since October 2008.
Investors rushed to buy after the company said Thursday that it will ramp up shipments of the Switch in July and August amid a shortage.
While the game developer initially planned to sell 10 million Switch consoles in the year ending March 2018, investors are "widely anticipating production to exceed plans," says Masahiro Ono of Morgan Stanley MUFG Securities.
Analysts expect Nintendo to book a net profit of 93.1 billion yen -- double the company's own projections -- for the current fiscal year ending in March. Some suspect the stock is overheating as the company's forward price-earnings ratio climbs past 100.