Rockstar Games' upcoming Grand Theft Auto V (GTA5) is one of the most anticipated game titles. Set in a fictionalized version of Los Angeles named "Los Santos", the upcoming GTA promises to deliver one of the largest open world games ever. The official release window is projected for March 2013, but in a note sent to investors, Robert W. Baird analyst Colin Sebastian warns that it seems increasingly unlikely that GTA5 will arrive on time.

"By no means am I convinced that it will miss March, but there are a couple of factors to consider. One, we haven’t heard anything definitive from the company on release timing," he said. "Second, retailers typically would want 4-6 months lead time to prepare for a launch as large as GTA, and from [what] I understand they haven’t heard anything. Third, Rockstar rightly prioritizes game quality over release date, and this dynamic could shift timing."

According to Sebastian, GTA V stands to be a hit, he believes the game will ship 12-14 million units during its first three months.