Anaylist Downgrades Activion earnings estimate

According to Arvind Bhatia, a financial analyst with Sterne Agee, sales of Call of Duty: Black Ops 2 are on a trend to be 15% down on Modern Warfare 3′s, which itself was down 5% from the first BlOps.
Here’s the thing: BlOps 2 pulled in $500 million on its first day of retail, a whole $100 million more than MW3′s. Even with a sharper downward sales curve, it’s still going to make an absolute boatload of money. A smaller amount than Modern Warfare 3, for sure , but still alot.
But the Call of Duty franchise makes up 45% of Activision’s total earnings – the rest, presumably, coming from terrible James Bond games and Blizzard’s output – which is why the analyst has “a cause for concern”.