Is Best Buy Stock a Buy?
Thanks to Best Buy's (NYSE: BBY) strategic place within tech-focused retail, along with its strong online presence that continues to grow, Best Buy is one of the few appealing brick-and-mortar retailers to invest in. The remote work trend received a big boost in 2020, and it seems highly unlikely that it will be going away.
This isn't even to mention the simple fact that we are all using technology more and more in our homes and daily lives. Because of that, things like laptops, cameras, and home office supplies are only going to see improving demand. Best Buy is in the right spot to cater to that demand.
Back in fiscal 2017, which ended on Jan. 28, 2017, Best Buy did look for a moment like it was going to get dragged down in the so-called "retail apocalypse" largely attributed to the meteoric rise of Amazon. Full-year enterprise revenue became stagnant that year, with $39.4 billion in enterprise sales versus $39.5 billion the year prior.
Source Fool.com
