While most analysts have been upbeat about EA's $195 million loss in the last quarter, Deutsche Bank analyst Jeetil Patel is saying it's only the beginning. Deusche Bank has downgraded the stock to "sell,", with Patel pointing to a "lack of major outperformance on unit volumes" among EA titles. He says despite market enthusiasm, EA is not achieving the profits it once did, a situation he doesn't see changing in the foreseeable future.

One thing Patel really gets into is that EA's product is not moving quickly. He states that several of the next-gen games have been marked down within 4-6 months of release and thinks "this could become a more widespread problem considering lackluster product quality, weak sell-through thus far (even on major franchises), and a crowded holiday selling season that should favor a handful of titles (Call of Duty 4, Halo 3, Super Mario, Guitar Hero to name a few)." Games like Rock Band, The Orange Box and Crysis are pointed out as not being owned by EA -- they can't be depended on for fiscal franchise fortitude in the long term. Patel goes on to conclude that EA will continue to lose market share going forward.

This article was originally published on Joystiq.

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