Best Buy Co., Inc.
BBY
BBY Fair Price
My Notes
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Best Buy and AI Innovation as a Catalyst for Growth
Best Buy Co., Inc. $BBY+1.4%, a multinational consumer electronics retailer, has embarked on an artificial intelligence (AI)-powered product offering. This strategic move could boost demand for personal computers and become a major boost to the company's growth in the second half of the year. According to analyst Michael Baker...
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📆 Next week's investment calendar! 🚀
Here's my recap of the most interesting events coming up in the next week!
Monday 🌐:
📊 New Home Sales for January (Expectations 684,000, previously 664,000), month-over-month for January (expected +3%, previously +8%).
💹 Earnings: Domino's Pizza $DPZ+1.1%, Freshpet $FRPT+4.5%, Hims & Hers $HIMS+3.1%, Unity Software $U+5.6%, Workday $WDAY+0.6%,...
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Yesterday, $BBY+1.4% Best Buy reported:
Sales fell 7.8% year-over-year to $9.76 billion, missing analyst estimates of $9.9 billion. Of the total sales, $9 billion came from the U.S. market. Online sales accounted for 30.6%.
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Best Buy $BBY+1.4%, the US electronics retailer, released its 2Q results. Comparable sales fell 6.2% from a year ago.
Results
Company-wide comparable sales fell 6.2%, compared to a 12.1% decline a year ago and analysts' estimates of a 6.38% decline.
U.S. sales declined 7.1% year over year, primarily due to lower comparable sales, which fell 6.3%. This is the lowest decline since...
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It may not be a bad deal at the moment. The stock is quite low, below the 2019 peak. Acceptable debt and EPS growth could help. But falling revenues are a problem.