Another day and another one of Michael Pachter's far-reaching predictions for the gaming industry, this time concerning yet another PlayStation 3 price cut, reports Next-Gen.

The Morgan Wedbush Securities analyst, who GamerSquad swears just wants cult status amongst gamers (we're hours away from printing our first batch of "Pachter Rules!" T-shirts), has stated that he expects the price of Sony's high-definition behemoth to drop at the beginning of next year in order to take advantage of some very notable releases.

“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," Pachter said in a note to investors yesterday.

In July, Sony snipped the price of the 60GB PS3 from $599 USD to $499 USD in North America, a move that considerably boosted sales of the stuttering console. However, the offer has since been announced as temporary. Once the current stock of 60GB PS3s disappears, only the $599 USD 80GB model will be available.

Perhaps Pachter's crystal ball flared into action after Microsoft's recent decision to officially cut $50 USD off the RRP of its popular Premium Xbox 360, bringing it down from $399 USD to $349 USD.

If you were tempted to buy a PS3 for the kids this coming holiday season, you might now just want to hold on a little while to potentially save yourself a bit of cash. Yes, you're going to absolutely ruin Christmas for the dear little ankle biters, but just think of all the beer money you'll be saving too.