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Best Buy Co., Inc. (BBY)

NYSE - Nasdaq Real Time Price. Currency in USD
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66.77+1.58 (+2.42%)
At close: 04:00PM EDT
66.75 -0.02 (-0.03%)
After hours: 07:36PM EDT
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  • F
    Frank B
    “Don’t sell Best Buy, I like it very much” Cramer
  • S
    Sunshine Design
    Building a nice position.. it goes down, I buy more.. good to see the little chickens worried about the price drop. Let it drop!
  • C
    Chucky
    no doubt they'll be yanking that dividend soon.
  • J
    Jabberwonky
    No support, it's headed for 62 bucks soon.
  • J
    Jabberwonky
    Yep, headed for 62 like I said.
  • W
    William
    Lots of empty shelves, hard to make money when you don’t have stuff to sell
  • J
    Jabberwonky
    Guessing it is going to 58 bucks.
  • D
    Darrell
    Goldman Sachs is staying cautious on shares of electronics retailer Best Buy (BBY) ahead of the key back-to-school and holiday shopping periods.
    "We have had a Sell [rating] on Best Buy for a while, I think since December 2020," Kate McShane, retail analyst at Goldman Sachs, told Yahoo Finance Live (video above). "And [something] that we highlighted at the time and continue to highlight is that we do think consumer electronics has been more of a beneficiary of people staying at home than not."
    McShane suggested that Best Buy is up against tough sales comparisons as people return to work in offices and purchase fewer electronics. The analyst also expressed concerns about the outlook for Best Buy's profit margins.

    "This is not one of the companies that saw huge margin increases during the pandemic," McShane explained. "They kind of stayed within their range. And now this year as we get into a more promotional environment... in addition to the fact that they're rolling out their Total Tech Support business, you are going to see weight on gross margin as well. So there is more risk around the numbers in 2022 than there are maybe for other companies we cover."
    Best Buy shares fell 4.6% during trading on Tuesday as of the market close. The stock has underperformed the S&P 500 since late November 2021, according to Yahoo Finance Plus data.
    While a large part of McShane's call on Best Buy reflects a hangover from the pandemic work-from-home electronics boom, there are macroeconomic worries brewing as well.
    High fuel costs, cash-starved consumers, and rising recession concerns are all mounting challenges for Best Buy and other retailers.
    Consumer sentiment has also remained depressed, even if spending hasn't significantly dropped off yet. The University of Michigan's consumer sentiment reading for June hit a record low, and a new survey from Gallup found consumer confidence is at its worst level since the Great Recession. Another consumer confidence measure released by the Conference Board on Tuesday hit a 16-month low and came in below economist estimates.
    "Consumers' grimmer outlook was driven by increasing concerns about inflation, in particular rising gas and food prices," said Lynn Franco, senior director of economic indicators at the Conference Board, in a statement. "Purchasing intentions for cars, homes, and major appliances held relatively steady — but intentions have cooled since the start of the year and this trend is likely to continue as the Fed aggressively raises interest rates to tame inflation."
  • a
    aaron
    Brick and mortar retail is dead … too much overhead and competition …
  • J
    Jabberwonky
    Yep, going to 58 bucks.
  • D
    Darrell
    While economists debate the likelihood of a recession in the next year, the U.S. is stuck at an uncomfortable way station – stagflation.
    As the word implies, this economic predicament features slowing or stagnating growth and high inflation.
    The U.S. economy contracted by 1.5% in the first quarter, with headline consumer prices rising by 8.6% in May. Investor concerns over the Federal Reserve’s ability to engineer a so-called “soft landing” — which averts recession while slowing inflation — have been rising, and Fed Chair Jerome Powell acknowledged the difficulty in testimony before Congress this week.
    “The baseline is stagflation — what we are experiencing now,” Mohamed El-Erian, economist and president of Queens’ College at Cambridge University, said in an interview with Yahoo Finance Live (video above). “So you have a baseline that is not very comfortable, stagflation, and then you have a balance of risk which is the wrong way — recession.”
    He’s not alone in that view. “Stagflation fear” as measured by Bank of America’s monthly fund manager survey registered its highest level since June 2008.
  • D
    Darrell
    Not the best time upcoming for retail stocks clearly.....
  • C
    Curtis
    How much debt does BBY have? Any concerns over their debt? Thanks.
  • C
    Chucky
    circuit city 2.0
  • H
    Happy
    Great stock, great dividend, great price
  • C
    ChrisMcV
    I just bought more Best Buy (BBY). Great management and Richard Schulze bought more stock. Also $.88 dividend a quarter. One more time: What's not to love-?
  • G
    Gary
    electronics are essentials ...can you live without a phone or computer nowadays? everything is online ..
  • V
    Victor
    Just an update, I am still holding this heavy bag and continue to load more, I ain’t worried.
  • J
    Jedi
    Can’t wait for those cheap tv on sale this Black Friday lol
  • J
    Jabberwonky
    It's gonna take more than a Geek Squad to get this thing out of the hole, smh.