FishyJoe on 11 December 2008
Pachter's response:
http://techland.blogs.fortune.cnn.com/2008/12/11/nintendo-wii-officially-recession-proof/
Analysts were taken by surprise by how well the $249 console has performed in a flagging economy. “Two million? You sure? This is mind-boggling,” said Michael Pachter, a top industry analyst for Wedbush Morgan Securities. “At least Nintendo is meeting demand.”
Pachter says it’s because people are now choosing a Wii over a latte. “There’s a solid middle class that’s going to make substitutions to buy games. Now it’s buy a Wii and don’t eat out for a month, or don’t take that ski trip,” he said. “Or cut out Starbucks.”
