Wedbush Morgan Analyst Michael Pachter Predicts GTA IV To Sell Six Million Copies In First Week
Gaming industry analysts are becoming more vocal, and consequentially, more listened to every month, with gamers hanging on every word some star names say. Michael Pachter, the analyst for Wedbush Morgan is one such name, and his latest prediction is about the forthcoming Grand Theft Auto game.
We all know Grand Theft Auto 4, or GTA IV if you’re down with the kids, is going to be huge, it’s almost guaranteed. It’s a game which is seeming to unite Playstation 3 and Xbox 360 owners across the divide that is the console format war.
Everyone is eagerly awaiting the release, which has now been confirmed for both systems on April 29th. Pachter believes that it will be by far the biggest game of 2008, selling an incredible 6 million copies in its first week.
According to NextGen.biz, he said:
“We think that GTA IV will generate around $450 million of the [Take-Two’s] expected $1,073 million publishing revenue this year, and will generate an operating profit of around 30 percent, or $135 million. At the high end of company guidance, Take-Two will generate operating income of around $130 million, meaning that the game is responsible for 103 percent of overall company operating profit.”
That’s a pretty big claim, but it’s all part of Pachter’s continuing support for the Electronic Arts buy out of rival publisher Take-Two, which he seems to be all for.