Michael Pachter of Wedbush Morgan is one hell starter of an analyst when he's saying MTV bought the wrong company or Gamestop is a good stock, but he can also admit when he's wrong -- like he did with Bully. Well, now Pachter adds his voice to the choir that a PS3 price drop is possible as early as this summer.

Speaking with GI.biz, Pachter says, "It is possible that Sony's cost of production for the PS3 has declined to the point that the company may consider a hardware price cut some time this summer, and we may see a price cut for the PS2 before the holidays."

So, now Pachter has thrown his voice into the price drop echo chamber. Estimates for a PS3 price drop range in the $100 region. It hasn't been a pretty day for Sony, so anything that could drive sales would be worth considering.

[Via PS3Fanboy]

This article was originally published on Joystiq.

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