Nintendo Investors Shouldn't Fear Valve's Steam Deck

Nintendo's (OTC: NTDOY) stock price recently slumped after Valve announced the Steam Deck, a handheld gaming PC that can play games from a user's Steam library. The Steam Deck is more powerful than Nintendo's Switch, but its base model will cost $399 -- just $50 more than the Switch. The Steam Deck stole the spotlight from Nintendo's Switch OLED, a newly upgraded model which will launch this October, and the media is saying the device is the Switch's first big competitor.