Analyst predicts PS5 and next-gen Xbox to be priced under $500

You're probably familiar with some of the predictions from Wedbush Securities analyst Michael Pachter. He's the one who said Xbox One X will not do well in sales, that the PlayStation 5 will release in 2019 or 2020 (Sony said it would be "some time" before we saw that). Before that, he said that the Xbox One and PS4 would be the last 'real' console cycle, which was essentially an echo of his previous statement.

Now, Pachter is predicting the price of the next generation of consoles, the PlayStation 5 and next Xbox.

“I don’t think next gen consoles will be $500… though I guess the right answer is, let’s see what happens with the Xbox One X,” said Pachter in his web show. “If Xbox One X is a phenomenal success, if it sells out, if overall Xbox sales rise to above the current level of 10 million a year, because everyone wants that power, then sure, the next gen can be more expensive. But if the Xbox One X sells 1-2 million a year, out of the 10 million Xbox sold every year, and after a couple of years, they satisfy demand and no one wants it at $500, then no."

More recently, Pachter claimed Nintendo would reveal a new Metroid during E3 (he was right), a PS4 price drop and that the Xbox One X would be $399 (wrong).