'Black Friday-Like Sales': Best Buy Stock (NYSE:BBY) Gains On New Sales
Don't Miss TipRanks' Half-Year Sale
Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Reports noted that Best Buy planned a week-long sales event, which was referred to as 'Black Friday in July.' The event is, not surprisingly, timed to coincide roughly with Amazon's (AMZN) eponymous Amazon Prime Days, and hopefully, steal some of that thunder for themselves.
Best Buy's senior vice president of customer offerings and fulfillment, Jason Bonfig, explained, 'We try to do everything that is the best of who Best Buy is, so it's the mixture of every category, its the mixture of the Doorbusters, the 'Deal of the Day' and then obviously bringing additional value on top of that to our members.' With a recent PwC survey revealing that 37% of shoppers were planning to pare back back-to-school spending, and 44% planning to cut technology purchases, there is a clear demand for Best Buy to improve value to get what it can get.
Dropping Healthcare
It might surprise you to know that Best Buy actually had kind of a healthcare arm in its ownership of Current Health. It might surprise you even more to know that 'had' in that previous sentence was quite correct, as Best Buy has it no longer. Its former co-founder, Christopher McGhee, reacquired the firm from Best Buy just recently.
Best Buy bought Current Health back in 2021. Given that this was during the pandemic, an investment in home healthcare made for a good idea. But Best Buy found it a tough needle to thread, as it restructured the health business and took a '…non-cash goodwill impairment charge of $475 million.' McGhee noted that the health sector in general is in 'early innings' of a shift from hospital to home-based operations, so, getting Current Health back from Best Buy made a certain sense.
Is Best Buy a Good Stock to Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BBY stock based on nine Buys, nine Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 13.17% loss in its share price over the past year, the average BBY price target of $80.53 per share implies 11.79% upside potential.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNET
7 minutes ago
- CNET
Prime Day Tablet Deals to Shop This July 4th: Save Up to $500 on iPads, Androids, Kindles and More
It's Independence Day, and while Fourth of July deals will likely start to wind down after today, Amazon's Prime Day deals are starting to heat up. That means there are plenty of offers to shop today. The online retailer's massive summer sale kicks off on July 8, and it's already giving us a taste of what to expect with tons of incredible bargains. You can take advantage of discounts on tons of top tech right now, including a massive selection of top-rated tablets. Whether you're looking to grab the latest iPad or want to pick up a budget-friendly Android, there are many offers out there, and we've rounded up some of the very best ones below. And keep checking back because we'll continue updating this page as new bargains drop and other deals expire throughout the sale. Hey, did you know? CNET Deals texts are free, easy and save you money. Prime Day tablet deals Apple iPad 10th gen: $299 A nice $50 savings brings the previous-gen iPad just under $300. The 10th generation is no longer the latest in Apple's standard iPad lineup, thanks to the fairly recent addition of the iPad 11th gen but it's still an all-around solid tablet. With a 10.9-inch screen, 64GB of storage and a 10-hour battery life, this iPad is a great pick for folks looking for an Apple tablet for everyday browsing, streaming and reading. Details Save $50 $299 at Walmart Close OnePlus Pad: $378 This Android tablet is less than $400 and is a great alternative to some of the major brands out there. The OnePlus Pad is not the latest on offer by OnePlus but it does have a nice 11.6-inch display, 8GB of RAM and 128GB of storage. It also boasts a sleek and lightweight design at just 552g and 6.54mm thick. Details Save $102 $378 at Amazon Close Apple M4 iPad Pro (13-inch): $1,299 The powerful M4 iPad Pro is a great investment for creatives and this $200 discount helps make it a little more affordable if you've been wanting to splurge on this model with a 13-inch Ultra Retina XDR display and 512GB of storage. Details Save $200 $1,299 at Amazon Close Samsung Galaxy Tab S9 Ultra: $700 A $400 discount on the Galaxy Tab S9 Ultra is a massive win for Android fans who love the Galaxy line. This is one of the best deals we've seen on a high-end Android tablet. This model also comes with the S-Pen so you can write and take notes easily. Plus, this tablet is also water- and dust-resistant so you can take it with you on the go. And it comes with Galaxy AI. Details Save $500 $700 at Best Buy Close Microsoft Surface Pro, 13-inch (512GB): $1,000 This high-end Surface Pro tablet has a detachable keyboard, a Snapdragon X Plus processor and 16GB of RAM, making it an incredible option for productivity. Plus, it weighs less than 2 pounds and boasts an impressive 14-hour battery life, so it's great for working on the go. Details Save $350 $1,000 at Best Buy Close Refurbished Fire Max 11 tablet: $158 The Fire Max 11 is a great budget tablet with a beautiful 11-inch screen, perfect for streaming, reading and chilling out. This model has been refurbished up to Amazon Certified levels, so it's trustworthy but might not be for everyone. Details Save $42 $158 at Amazon Close More Prime Day tablet offers available now Is Amazon Prime Day a good time to buy a tablet? It depends. Your needs and preferences will affect which tablet you should buy and some tablet options won't be as competitively priced as others during Prime Day. Amazon's deals on its own Fire tablets are a great place to start if you're looking for major discounts but you can also score some serious savings on iPads and models from other brands. If you have an older tablet you can trade in, you can potentially save even more through trade-in programs at retailers like Amazon and Best Buy on eligible models. Do you need a membership for Prime Day tablet deals? To access the vast majority of Prime Day deals, you'll need to be a Prime member. If you've always yearned for the benefits of Prime but haven't made the jump, now's a great time to subscribe. Subscribing now could lead to significant savings as tariffs are expected to raise prices on a lot of goods. In fact, 16% of shoppers say they're using Prime Day to start their holiday shopping well ahead of the holiday season, according to a new RetailMeNot survey. (Disclosure: RetailMeNot is owned by the same parent company as CNET, Ziff Davis.) Read more: How to Sign Up for a Prime Membership Are other retailers offering high-quality tablet deals? Yes. In response to Prime Day, many of Amazon's competitors also lowered prices across the board, including on tablets. Best Buy and Walmart have Fourth of July deals that are offering plenty of savings already. In addition, you may also spot deals directly at Dell, HP and Samsung. Will tariffs impact this year's Prime Day deals? Tariffs are top of mind for most Americans and they could impact this year's Prime Day event. Prices on items like electronics could very well increase, with companies like Apple trying to avoid this by moving manufacturing operations elsewhere. The tariffs are currently paused but only until July, right when Prime Day begins. Now Playing: How to Hack Amazon Prime Day: Shopping and Deals Advice 04:03 How does CNET select the best Prime Day offers? Our team of expert shoppers and deal hunters has spent years helping buyers understand which major sales and deals are legitimately good and which are more routine. That includes Black Friday, Prime Day, Memorial Day and countless other shopping events. We've become very good at weeding out scams and superficial deals on all sorts of tech, so you see only the best offers on items, like tablets. At CNET we look for real discounts, quality reviews and remaining sale time when choosing a deal to show you.
CNET
an hour ago
- CNET
Prime Day Deals Under $100: 29 of the Best Budget-Friendly Bargains
The ongoing Fourth of July deals aren't your only way to save right now. We're just a few days away from the kickoff of Amazon's massive Prime Day sale, and the bargains are already heating up. You can shop thousands of offers on a massive variety of top tech, home goods and more -- including plenty that you can pick up for just $100 or even less. To help you make the most of these budget-friendly offers, CNET's dedicated deals team has rounded up some top picks below. We'll continue to update this page throughout the event, so be sure to check back often for the latest and greatest offers. If you're looking for even more savings on affordable everyday essentials, you can also check out our roundup of the best Fourth of July deals under $25. Hey did you know? CNET Deals texts are free, easy and save you money. Best Prime Day tech deals under $100 Beats Pill: $127 Thanks to its sleek design, the Beats Pill has landed on our list of the best Bluetooth speakers this year. Our reviewer was impressed by its sound quality -- particularly the bass definition, thanks to its new updated woofer system -- as well as the relative volume for its size. It also supports lossless audio with a wired USB-C connection and boasts an IP67 weather-resistance rating, so you can take it just about anywhere. This deal matches the all-time low price, which makes it an incredible value. Details Save $23 $127 at Amazon Close More Prime Day tech deals under $100: Best Prime Day home deals under $100 Blink Outdoor 4 (2-pack): $70 These tiny and versatile outdoor security cameras are some of the absolute best on the market right now. This two-pack allows you to keep an eye on your front and back yard around the clock with HD video resolution and infrared night vision. They support two-way audio so you can chat with visitors from anywhere. Plus, they're wireless, so they're easy to set up. Details Save $110 $70 at Amazon Close More Prime Day home deals under $100: Best Prime Day kitchen deals under $100 Carote 12-piece cookware set: $55 This 12-piece Carote bundle deal is a great way to upgrade your kitchen on a budget. It includes three pots and two pans with lids, and as well as two spatulas and a ladle. They're all nonstick, which makes them perfect for delicate ingredients like eggs and fish, but are also "100% free of PFOAs, PFAs, lead and cadmium," so you don't have to worry about harmful chemicals leaching into your food. They're designed to be used with just about every type of stove, be it gas, electric or induction, so they're highly versatile. Details Save $95 $55 at Walmart Close More Prime Day kitchen deals under $100: Best Prime Day health, beauty and wellness deals under $100 Renpho C3 massage gun: $50 This Renpho massage gun can produce up to 50 pounds of force and features 20 speed levels ranging up to 3,200 rpm to help alleviate stiff muscles. It also comes with six head attachments to help you target specific muscle groups. Plus, it weighs just over 2 pounds, which makes it easy to toss in your gym bag and take just about anywhere. Details Save $40 $50 at Walmart Close More Prime Day health, beauty and wellness deals under $100: Best Prime Day fashion deals under $100 Crocs Baya clogs: $35 Are Crocs the most stylish shoes on the market? Debatable. Are they seriously comfortable? Undeniably. They're perfect for lake days or lounging around on the back patio, and right now you can grab tons of colors and sizes for less at Walmart. Details Save $15 $35 at Walmart Close More Prime Day fashion deals under $100: Best Prime Day toys and games deals under $100 Lego Bonsai set: $40 Add some zen to your shelf with this tranquil Bonsai tree building kit. It's an 878-piece set made of sustainable plant-based plastic, and it has interchangeable leaves and cherry blossoms so you can match your mood or season. Details Save $10 $40 at Amazon Close More Prime toys and games deals under $100: When is Amazon's Prime Day event? The online retailer recently confirmed that its massive summer sale will officially kick off on July 8 this year, and will run through July 11. However, the Fourth of July is just a few days earlier, and several retailers will be offering a massive slate of Independence Day deals as well. Amazon isn't having an official Fourth of July sale, but Prime Day deals will overlap. Are Amazon Prime Day deals worth buying? Depending on what you are after, the short answer is yes. You can expect thousands of items to go on sale, including some deals that match or exceed the previous all-time low prices. Just note that Amazon stock can fluctuate wildly, which means there's no telling how long the item will remain on sale or available. If you see a deal you don't want to miss, we'd recommend taking advantage of those savings sooner rather than later. Will other retailers be offering Prime Day deals? While the official Prime Day is exclusive to Amazon, other retailers will absolutely be getting in on the action. Walmart has already announced that it will be having its own summer sale event that runs from July 8 to July 13, and it's likely that at least a few other competitors will follow suit. Plus, we anticipate that many Fourth of July deals and sales will spill over into Prime Day. Now Playing: How to Hack Amazon Prime Day: Shopping and Deals Advice 04:03 How we choose the best Amazon Prime Day deals Many of us here at CNET have covered shopping events for several years, including Black Friday, Prime Day, Memorial Day and countless other sales. In that time, we've learned how to spot the best deals among a sea of thousands of superficial offers and scams, and we only surface the best offers from trusted retailers. We look for real discounts, quality reviews and remaining sale time when choosing the best deals to show you. Real discounts mean genuine savings. We check pricing history for products listed as on sale so we know when it's a case of an inflated list price rather than an actual discount. Quality reviews and testing are super important for any product. A discount isn't worthwhile if it results in a subpar product experience, no matter how much you saved. Remaining sale time is important, too. Some deals are only around for a short time or may be limited in supply. If that's the case, we'll let you know upfront so you don't come back to the deal later only to be disappointed.
San Francisco Chronicle
2 hours ago
- San Francisco Chronicle
Trump is expected to sign his huge bill of tax and spending cuts at the White House July 4 picnic
WASHINGTON (AP) — President Donald Trump is expected to sign his package of tax breaks and spending cuts into law Friday after his cajoling produced almost unanimous Republican support in Congress for the domestic priority that could cement his second-term legacy. Against odds that at times seemed improbable, Trump achieved his goal of celebrating a historic — and divisive — legislative victory in time for the nation's birthday. Fighter jets and stealth bombers are to streak the sky over the annual White House Fourth of July picnic where Trump plans to sign the bill. The legislation, the president said, is 'going to make this country into a rocket ship. It's going to be really great.' Democrats assailed the package as a giveaway to the rich that will rob millions more lower-income people of their health insurance, food assistance and financial stability. "I never thought that I'd be on the House floor saying that this is a crime scene,' Democratic leader Hakeem Jeffries of New York said during a record-breaking speech that delayed the bill's passage by eight-plus hours. 'It's a crime scene, going after the health, and the safety, and the well-being of the American people.' The legislation extends Trump's 2017 multi-trillion dollar tax cuts and cuts Medicaid and food stamps by $1.2 trillion. It provides for a massive increase in immigration enforcement. Congress' nonpartisan scorekeeper projects that nearly 12 million more people will lose health insurance under the law. The legislation passed the House on a largely party-line vote Thursday, culminating a months-long push by the GOP to cram most of its legislative priorities into a single budget bill that could be enacted without Senate Democrats being able to block it indefinitely by filibustering. It passed by a single vote in the Senate, where North Carolina Republican Thom Tillis announced he would not run for reelection after incurring Trump's wrath in opposing it. Vice President JD Vance had to cast the tie-breaking vote. In the House, where two Republicans voted against it, one, conservative maverick Tom Massie of Kentucky, has also become a target of Trump's well-funded political operation. The legislation amounts to a repudiation of the agendas of the past two Democratic presidents, Barack Obama and Joe Biden, in rolling back Obama's Medicaid expansion under his signature health law and Biden's tax credits for renewable energy. The Congressional Budget Office estimates the package will add $3.3 trillion to the deficit over the decade and 11.8 million more people will go without health coverage. Trump exulted in his political victory Thursday night in Iowa, where he attended a kickoff of events celebrating the country's 250th birthday next year. 'I want to thank Republican congressmen and women, because what they did is incredible,' he said. The president complained that Democrats voted against the bill because 'they hate Trump — but I hate them, too.' The package is certain to be a flashpoint in next year's midterm elections, and Democrats are making ambitious plans for rallies, voter registration drives, attack ads, bus tours and even a multiday vigil, all intended to highlight the most controversial elements. Upon his return to Washington early Friday, Trump described the package as 'very popular,' though polling suggests that public opinion is mixed at best. For example, a Washington Post/Ipsos poll found that majorities of U.S. adults support increasing the annual child tax credit and eliminating taxes on earnings from tips, and about half support work requirements for some adults who receive Medicaid. But the poll found majorities oppose reducing federal funding for food assistance to low-income families and spending about $45 billion to build and maintain migrant detention centers. About 60% said it was 'unacceptable' that the bill is expected to increase the $36 trillion U.S. debt by more than $3 trillion over the next decade.
