Respawn game, Destiny and Battlefield 4 will "probably cannibalise" sales of Call of Duty even further, reckons Pachter.
Cowen & Company analyst Doug Creutz believes investors will ignore the impact on Activision when looking at the health of the company.
Activision was nine months into development of a third-person Call of Duty game before it decided to cancel the project.
Call of Duty: Modern Warfare 3 is almost upon us, but if it's been a while since you played the previous games the story might be a little bit hazy. We're here to clear that mind fog.
Call of Duty Elite-style services will become "a necessity" for mainstream games within the next three to five years, Activision has claimed.