Top Gaming Stocks to Watch in 2026

Check out this list of the best gaming companies on Wall St

Data as of 23/02/2026. Source: Stake, Google Finance.

*The list of stocks mentioned is ranked by market capitalisation. When deciding what companies to feature, we analyse the company's financials, recent news, advancement in their timeline, and whether or not they are actively traded on Stake.

See how these gaming stocks will play in 2026

1.Nvidia Corporation ($NVDA)

Nvidia is an AI powerhouse and data centre revenue is now its primary growth engine, but the firm hasn’t lost sight of its gaming roots. Its GeForce RTX gaming GPUs are now a mature, cash flow generating revenue base. In Q3, Nvidia reported US$4.3B in gaming revenue – an increase of 30% YoY isn’t a sign of growth slowing down. 

The GeForce RTX lineup has evolved into a deeply entrenched ecosystem. The RTX 50-series with Blackwell architecture uses AI models to boost frame rates, which is a unique Nvidia advantage. In fact, game developers increasingly optimise directly for RTX features. That list includes the makers of Valorant, Resident Evil and Counter-Strike 2.

While demand ensures Nvidia’s gaming segment margins remain structurally strong, the premium dynamic in 2026 is likely to be amplified by a supply-side factor: the ongoing tightness in High Bandwidth Memory (HBM). That could force Nvidia to slash RTX 50 output by 30% in H1 2026, with the scarcity further sustaining margins.

2. Microsoft ($MSFT)

Microsoft is one of the biggest and most influential companies in the video game industry. It operates not just as a platform holder, but also as a publisher and service provider. 

But in Q2 2026, the firm reported a 10% decline in gaming revenue. Xbox content and services revenue declined 6%, driven by weakness in first-party content across the platform. That means games developed by Microsoft, like Halo, didn’t meet revenue expectations. And it happened in the quarter which typically sees strong holiday-period sales.

Despite Xbox hardware sales declining 32% YoY, the firm reported a record number of PC players and paid streaming hours on Xbox. It reflects Microsoft's pivot toward services like Game Pass and multi-platform access across PC and cloud, where player growth offsets hardware declines but hasn't boosted the bottom line yet due to content timing and pricing changes.

The numbers show a company in transition: sacrificing hardware dominance today to build a service-driven gaming empire for tomorrow.

3. Tencent ($TCEHY)

Tencent is not just a console platform or a hit-driven publisher. It is the largest gaming equity and distribution ecosystem in the world. It combines majority-owned studios, stakes across global developers, mobile publishing dominance and live-service monetisation. That makes it structurally different from companies like Nintendo and Sony.

The firm reported RMB 192.9B in revenue last quarter, with RMB 95.9B from its gaming segment alone. Domestic gaming grew 15%, while international revenue surged 43%, driven by titles like VALORANT Mobile.

Tencent’s gaming margins are primarily driven by engagement trend, average revenue per user (ARPU), live-service longevity and regulation. But investors in this gaming giant will need to factor in China-specific risk in exchange for exposure to its scale and diversification that few competitors can match.

4. Sony ($SONY)

Sony is a platform-scale ecosystem operator rather than a hit-driven publisher. Its gaming exposure primarily runs through PlayStation, built around hardware, third-party distribution, subscriptions and live-service ambitions.

Gaming is still the firm’s most profitable segment, with quarterly revenue doubling what it earns from segments like music and pictures. PS5 shipments in the December quarter hit 8 million – impressive because those numbers are comparable with two years prior, despite being six years from launch. The 84 million units shipped to date are more than twice the units shipped by its most direct competitor – the Xbox S/X series.

PlayStation is the engine, Sony is still a conglomerate, and that diversification can cap upside just as much as it cushions downside. For gaming-focused investors, this creates a structural gap: PlayStation may deserve a premium multiple as a high-margin digital platform, but the broader corporate mix can anchor valuation.

5. NetEase ($NTES)

NetEase is one of China’s largest gaming companies, operating both as a developer and publisher. Its portfolio spans PC and mobile games, with a mix of original IP and licensed international titles. Unlike Tencent, NetEase focuses more on mid- to high-end game development, emphasising long-tail live-service revenue over platform dominance.

Recurring consumer spending (RCS) is the core revenue driver for NetEase, coming from in-game purchases, downloadable content, virtual currency and subscriptions. Its flagship titles like Fantasy Westward Journey and Identity V have consistently driven high engagement and monetization.

In the most recent quarter, the firm reported net revenue of RMB 27.55 billion, up 3% YoY but missing estimates driven by post-summer declines in game sales and inter-segment eliminations. 

6. Nintendo ($NTDOY)

Japanese gaming giant Nintendo is more dependent on major game launches, but less dependent on recurring revenue than some of its rivals. While that makes earnings more volatile, investors look across three revenue pillars: hardware cycles, first-party software and IP expansion.

Nintendo’s sales jumped 86% in the December quarter, driven by its Switch 2 platform launched in June – the fastest-selling video game console of all time.  But gross margin on the newer console slipped to 38.9%, likely, in part, due to the jump in RAM prices, which made the consoles more expensive to build. The ongoing memory shortage is something that has impacted $NTDOY in the last few months, with sentiment around its role in margin compression weighing on share price. 

Still, the bulk of Nintendo’s overall gross margin comes from software sales, around 80% of which is Nintendo’s own games as opposed to third-party titles. And the company has created some of the most longstanding IP franchises like Super Mario and Pokemon. Ultimately, it's less subscription-driven, but more uniquely leveraged to the enduring strength of its first-party franchises.

7. Electronic Arts ($EA)

Electronic Arts is one of the world’s largest third-party video game publishers, built around a portfolio of global sports and live-service franchises. Its business spans console, PC and mobile, with a heavy emphasis on annualised sports releases and digital add-on content rather than one-off blockbuster launches.

A significant portion of sales comes from in-game purchases, particularly Ultimate Team modes within franchises like EA Sports FC, Madden NFL and Apex Legends.

But EA has agreed to go private – that means public shareholders are bought out and shares will be delisted from public markets. In the short term, investors may benefit from a buyout premium, but will lose direct exposure to EA’s future cash flows and live-service growth as a public equity story.

8. Roblox ($RBLX)

Roblox is not a traditional game publisher – it’s a user-generated content (UGC) platform that functions more like a gaming ecosystem. Through developers create experiences using Roblox Studio, while the company monetises engagement across its global player base.

The company’s revenue model is driven almost entirely by recurring consumer spending. Users purchase its virtual currency Robux, which is spent on in-game items and revenue scales with daily active users (DAUs), engagement hours and average bookings per user. But since creators earn a share of revenue, Roblox’s cost structure includes significant developer payouts – making it a two-sided marketplace rather than a pure publisher.

Roblox has prioritised growth over profitability. While revenue growth has remained strong, margins are pressured by infrastructure costs, safety investments and creator payments.Still, Roblox (RBLX) reported Q4 revenue of US$1.42B, up 43% YoY and beating consensus estimates by 13%.

9. Take-Two Interactive Software ($TTWO)

Take-Two Interactive is one of the world’s largest video game development and publishing companies. It operates primarily through three major labels: Rockstar Games, 2K and Zynga. 

Take-Two’s revenue model has shifted significantly over time. Recurrent consumer spending (RCS) is now the major revenue driver. That means revenue from in-game purchases, downloadable content, virtual currency, subscriptions and microtransactions. RCS makes up 80% of Take-Two’s total sales and grew 23% in Q3. 

Still, most of Take-Two’s fortunes are tied to its Grand Theft Auto (GTA) franchise. Lifetime sales for GTA V have topped US$9B and 225 million copies. Take-Two has spent over US$2B on GTA VI – expected to release in November 2026, it's easily the most anticipated game launch of the decade. Analysts expect the game to break sales records.

But Take-Two has posted negative earnings for two consecutive years due to high operating costs. The question is: could EPS improve before we get GTA VI?

10. Logitech ($LOGI)

Logitech is a computer peripherals manufacturer with meaningful exposure to gaming through its Logitech G division. Unlike publishers like EA or platform operators like Sony, Logitech sits upstream in the ecosystem – monetising gaming engagement through hardware sales rather than software or in-game spending.

Gaming is one of Logitech’s higher-margin segments, driven by demand for premium mice, mechanical keyboards, headsets and simulation gear. But that means revenue is tied to hardware upgrade cycles, esports growth and overall PC gaming activity rather than recurring digital monetisation.

In the most recent quarter, Logitech reported US$1.42B in revenue, up 6% YoY – gaming revenue alone accounted for US$483M.For investors, Logitech provides indirect exposure to gaming growth without hit-driven volatility. Upside comes from premium hardware and esports expansion, while risk stems from hardware cyclicality and slower upgrade cycles.

What gaming ETFs are available to invest in?

Here are some of the gaming‑focused ETFs you can consider on both Wall Street and the ASX:

Wall Street Gaming & Esports ETFs

• VanEck Video Gaming and eSports ETF ($ESPO)

• Global X Video Games & Esports ETF ($HERO)

• Amplify Video Game Leaders ETF ($GAMR)

• Roundhill Video Games ETF ($NERD)

• First Trust S‑Network Streaming & Gaming ETF ($BNGE)

• VanEck Gaming ETF ($BJK)

ASX Gaming & Esports ETFs

• Betashares Video Games and Esports ($GAME)

• VanEck Video Gaming and Esports ETF ($ESPO)

Which gaming company is leading the industry?

The clear global leader in the gaming industry as of 2026 is Tencent Games, generating the highest total revenue worldwide – driven by its dominance in mobile and PC gaming. In the console segment, PS5 maker Sony commands the largest hardware and AAA title market share, while Microsoft Gaming remains a powerful competitor, especially after acquiring Activision Blizzard.

Benefits of investing in the video game industry

1. Strong growth trends

The global gaming market is expected to exceed US$300B by 2027, driven by mobile gaming, cloud gaming, and expanding internet access. Emerging markets and next-gen consoles are expanding the player base worldwide.

2. Recurring revenue and high margins

Many gaming companies rely on recurring consumer spending (RCS) –  in-game purchases, subscriptions  and virtual currencies. This model provides predictable, high-margin revenue compared to one-off game sales.

3. Demographic resilience

Gaming appeals to multiple age groups and regions, creating long-term demand resilience. The rise of mobile and online games makes the industry less sensitive to economic cycles than traditional entertainment.

4. Potential for strong returns

Companies with successful IPs, strong platforms, or recurring monetisation often exhibit high profitability and long-term shareholder value. High engagement and network effects can create moats around top-performing games and ecosystems.

What is the future outlook of the gaming industry?

The global gaming market is projected to grow meaningfully over the next decade, driven by mobile gaming expansion and new platforms. While mobile gaming will likely remain the largest revenue segment, cloud gaming aims to reduce hardware barriers, enabling high‑end experiences on lower‑power devices. 

Artificial intelligence is also beginning to influence game creation, personalisation, non‑player character (NPC) behaviour, and analytics – potentially lowering production costs and enhancing engagement.

Gaming stock FAQs

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What factors influence the performance of video game stocks?

The performance of video game stocks is influenced by a mix of company-specific and industry-wide factors. Key drivers include blockbuster game releases, the strength of recurring consumer spending from in-game purchases and platform dominance.

Technological adoption, including VR, AR, cloud gaming, and AI-driven content, also plays a role, while regulatory changes in regions like China or the US, macroeconomic factors affecting consumer spending, and strategic partnerships or acquisitions can further impact stock performance. 

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Has the video game industry grown in recent years?

The video game industry has grown steadily in recent years despite some slowdowns and challenges. Revenue has expanded significantly from pandemic highs, driven by mobile gaming, digital sales, and emerging tech like cloud and AI.

Global revenues grew from around US$265B in 2019 to approximately US$455B by 2024, a 71.7% increase over five years. Forecasts indicate steady expansion, approaching US$205 billion in 2026, surpassing film and music sectors.

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How can I invest in Fortnite?

Investing directly in Fortnite is not possible, as the game is owned by the privately held Epic Games. But investors can still gain indirect exposure through companies with a stake in Epic, such as Tencent, which owns about 40% of Epic Games, or by investing in publicly traded gaming ETFs that include Tencent and other major gaming companies. Alternatively, exposure can come from investing in platform partners like Sony, which collaborates with Epic on the PlayStation ecosystem.

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Article sources

[1] https://www.bcg.com/publications/2025/video-gaming-report-2026-next-era-of-growth 

[2] https://www.blog.udonis.co/mobile-marketing/mobile-games/gaming-industry