Nintendo and MercadoLibre: Two Consumer Stocks to Buy for Long-Term Investors

Two consumer stocks, MercadoLibre and Nintendo, are experiencing severe drawdowns due to factors outside of the AI boom, creating once-in-a-decade buying opportunities for long-term investors. Nintendo's new gaming device, the Switch 2, has sold over 17 million units, and the company has increased its product development spending on gaming software. Despite a lackluster game lineup narrative, Nintendo has a slate of games planned for the next few years, and its expansion into other forms of entertainment, such as movies and theme parks, is expected to drive more fans to its gaming hardware.