Grand Theft Auto 5: Wedbush Morgan Analyst forecasts massive sales
Video game industry analyst, Michael Pachter of Wedbush Morgan securities has dropped quite a few bombshells recently. Let’s go over them one by one. First, he is claiming that Grand Theft Auto 5 is in development at Rockstar games. If formally announced or confirmed by Rockstar, this would be huge. As of this post, there has been no formal announcement regarding the development of Grand Theft Auto 5. Second, Pachter claims that this (unannounced) development has already set Rockstar back $80 million dollars in development costs. Lastly, Pachter forecasts Grand Theft Auto 5 to rack up 18 million unit sales on the downside and up to 24 million on the upside.
Does Rockstar have the funds to follow through? As reported by Gamespot, Take Two Interactive, the owner of Rockstar games, posted some healthy numbers for the April 2012-March 2013 fiscal year – it earned $2 per share. That’s quite a lot of resources. This has led to another anlalyst asking Take Two Chairman, Strauss Zelnick, if Grand Theft Auto 5 will ship during the quarter. Of course, Zelnick dodged the question. When Take Two finally releases official word on Grand Theft Auto 5, you can bet we’ll be on the case like white on rice – the rest of the blogosphere as well. From a development budget perspective, Rockstar seems to be in good shape specially with the release of its latest hit, LA Noire.