Why Best Buy (BBY) Stock Is Down Today
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Best Buy? Access our full analysis report here, it's free.
Best Buy's shares are somewhat volatile and have had 10 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Best Buy is down 18.1% since the beginning of the year, and at $70.58 per share, it is trading 31.7% below its 52-week high of $103.30 from September 2024. Investors who bought $1,000 worth of Best Buy's shares 5 years ago would now be looking at an investment worth $812.29.
Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
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