Best Buy (BBY): Electronics Demand Lower?

Best Buy (BBY) stock price bounced off of recent lows, but is still down around 40% from year ago levels. Are consumers moving away from buying electronics? Does Best Buy (BBY) have any real competition? “Anything you can buy at Best Buy, you can get somewhere else like Amazon (AMZN). From a purchase intent social media mentions, Best Buy is down the most among other retailers offering similar products. Also, from a consumer happiness perspective, only Walmart is lower than Best Buy. New appliance demand is up, but PC gaming, home renovation, and smart TV purchase demand are all down year-over-year,” says LikeFolio’s Landon Swan. Tom White and Kevin Hincks weigh in on BBBY technical levels and past earnings report performance.

Fast Market

11 Jan 2023

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