Wedbush Morgan Securities video game analyst, Michael Pachter, says the PlayStation 3 is going down in price to $299 in April. Pachter thinks the price cut of $100 could pull the PS3 out of its recent sales slump.
"Once the PS3 is at a more affordable price point (we expect a cut to $299 in April), we think that sales of that device will once again begin to grow," Pachter said.
Pachter also thinks Microsoft will answer with a retail slashing of its own. "We expect another cut in price for the Xbox 360, with the feature-laden Pro model likely to come down in price to $249 at or before this year's E3 show in June," the analyst predicted.
To round out his trio of current-gen psychic predictions, Pachter doesn't see a price-cut coming for the Wii. It isn't like Nintendo needs to do anything to boost sales of the mom-friendly console after all, right?
A PlayStation 3 for only $299 is pretty amazing--that's half the price of a 60GB PlayStation 3 at launch. But is it low enough to convince gamers who have been resistant to the machine? I'm sure you'll let the world know what you think below.