Pachter gets one right; GameStop stock worth buying
When video game analysts are mentioned, most of us who closely follow game news think of Michael Pachter. Like any analyst, their predictions aren't perfect. In fact, many abide by the 51% rule; if you get at least 51% of your predictions right, you're a good analyst.
Back in November, Pachter predicted GameStop (GME) to ride a wave of consumer spending on video games. GameStop has released some information proving that buy a good one. GameStop has increased its already strong revenue outlook by $50 million and its Q4 earnings per share from $1.53-$1.59 to $1.58-$1.60.
On top of other interesting sales promotions, GameStop certainly enjoyed the console launches and top-selling games like Gears of War immensely. GameStop is still looking like a strong buy with the strong Xbox 360, PS3 and Wii lineups for 2007 along with continuing PS2 support (though not everyone is in consensus on this). Since we're going to make some money off this one, we're going to forgive Pachter for some of his missed predictions.
