With the 60GB PS3 stock running dry, Wedbush Morgan analyst Michael Pachter has predicted that Sony will cut the price of the 80GB model to $499 once the stock of the 60GB model is depleted, which he expects, will happen sometime before the holidays.

We note that Sony recently acknowledged that it will no longer produce its 60Gb PS3,” said Pachter, “and we expect the price of the 80Gb PS3 to be reduced to $499 before the holidays, maintaining a premium SKU at that price point.

Analysts: 80GB PS3 To Hit $499 By Christmas [Gamasutra]

Read more: Pachter: $499 PS3 Not Going Anywhere, Pachter: Sony To Cut PS3 Price In 2008, E3 2007: No PS3 60GB After July, Rumor: Bigger, Better, PS3 Dual Shock 3 Bundle Incoming, Will Replace 80GB Model, Sony To Drop PS3 Price, Announce 40GB In Europe Tomorrow