Analyst’s predictions for June have been a disappointing month for packaged games sales for video game stock on Wall Street. According to the end of trading yesterday, Zynga, Electronic Arts, Take-Two Interactive, Nintendo and Microsoft saw significant sales loss with a 5 per cent decrease.
Analysts are blaming the cumbersome drop in sales due to a number of growing concerns within the video game industry. The main worry is that there is a lack of breakout titles among social network games, and the lack of a new console hasn’t done much to raise consumer interest and consumer confidence maybe at an all time low at the moment. A new report from Wedbush Securities’ Michael Pachter predicts that June’s video game sales will fall by a whopping 34 percent compared to the same time last year.