The dust has barely settled on the Wii U price announcement and already infamous analyst Michael Pachter has started putting the boot in.

Patcher - who is employed by Wedbush - had this to say on Nintendo's presentation:

We think that Wii U’s price points are appropriate given likely demand from Nintendo’s core fanbase, but believe that pricing will be too high to sustain demand given current competition from other consoles and tablets.

In our view, Nintendo was smart to introduce the Wii U at higher price points in order to maximize initial sales from its core audience. We expect 1 – 1.5 million Wii U units to be shipped into the US by the end of GameStop’s fiscal year (January).

We expect demand from Nintendo’s core fan base to remain high through the end of its March 31 fiscal year. Once initial demand begins to subside, we expect Nintendo to lower prices.

We don’t expect a price cut until summer 2013, at the earliest, but do expect a cut prior to holiday 2013. Any prospective price cut will depend largely on competition, which we expect to materialize in the coming weeks.

With Reggie saying that Wii U represents excellent value for money, is Patcher simply up to his usual tricks here? Time will tell.