Wedbush Morgan analyst Michael Pachter has gained a fair bit of respect from us over the last year or so, and for good reason. He has been right on a lot of his claims, and generally close to correct on rest.

When speaking about hardware and software sales throughout 2007 and into 2008, Pachter speculated that Sony would lower the cost of it's aging PlayStation 2 early next year.

"Sony announced a SingStar PS2 bundle for $149, and will likely cut the price for the PS2 at the beginning of next year (note that Sony recently raised its forecast for PS2 sales by 2 million this year, ending March 31, 2008)."

We expect the magic $99.99 price point for Sony's seven year old console.

Regarding the current generation, Pachter also thinks we'll be seeing another PlayStation 3 price cut in the Spring.

"We expect a further price cut for the PS3 in the spring, when blockbuster games Grand Theft Auto IV and PS3 exclusives Metal Gear Solid 4, Little Big Planet and Gran Turismo 5 will launch."

More PlayStation 3 News...