Best Buy (BBY) Stock

I bought some Best Buy (BBY) shares the other day because I saw a huge dip in price.  The price drop was brought on from a disappointing earnings report. Best Buy did disappoint in earnings.  However, revenue was up as were same-store-sales. The price might suffer short-term, but it has great long-term potential.  Investors often overreact to bad news, and I think with BBY they did just that.  The price is down 8% since the earnings news was revealed.  Keep in mind that the PE for Best Buy make sit a value buy.  For a growth retail company, Best Buy is ridiculously cheap.  It might take a quarter for the price to recover and show gains, but long-term it looks great.

Written by Nagel on June 25th, 2007 with no comments.
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