According to Wedbush Morgan analyst Michael Pachter, a price cut is in the cards for the Xbox 360 by the time E3 2009 rolls out this summer (June to be precise). The price cut, says Pachter, is likely to come on the heels of a price cut for Sony's Playstation 3, which he believes will drop to $299 in April. In response, Pachter expects the Xbox 360 Pro model (which currently comes packed with a 60GB hard drive) to drop to $249. While the article doesn't mention the Xbox 360 Arcade or Elite, we'd say it's a safe bet that they'll also drop in price whenever the Pro does. What about the Wii, you say? Don't expect a price cut until demand starts to decline (so, like, never?).
It's worth noting that Pachter's not the only one predicting a PS3 price cut. Even Microsoft is predicting one in the near future. Assuming that happens, it only makes sense that Microsoft would follow suit.