Another PS3 price drop in 2008?

A top investment analyst predicts Sony will further cut the price of the PlayStation 3 console line in the second quarter of 2008.

In a letter to investors yesterday, Wedbush Morgan’s Michael Pachter stated “…we do expect Sony to be in a position to cut the price of the PS3 in early 2008, when blockbuster games Grand Theft Auto IV and PS3 exclusive Metal Gear Solid 4 will launch.”

He also predicts a PS2 price cut for this upcoming holiday season.

Pachter analyzes Electronic Arts, Take-Two, THQ, Activision, Midway, 3DO, and Acclaim on behalf of investors.

After initial denials, Sony cut the U.S. retail price of the 60GB and 80GB models last month.