Long Position on BBY @ $114.00 on 11/13/2020 (Fundamentals)

Best Buy Co., Inc. (BBY) retails technology products in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International.

Double Bottom on $ BBYIts stores provide computing and mobile phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, peripherals, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.

The company's stores also offer appliances, such as dishwashers, laundry appliances, ovens, refrigerators, blenders, coffee makers, and vacuums; and other products, such as beverages, snacks, and sundry items, as well as baby products, luggage, and sporting goods.

In addition, it provides services comprising consultation, design, delivery, installation, memberships, protection plans, repair, set-up, and technical support services, as well as connected health services for aging consumers.

The company offers its products through stores and Websites under the BestBuy, Best Buy Express, Best Buy Mobile, Geek Squad, Best Buy Health, CST, GreatCall, Lively, Magnolia, Pacific Kitchen, Home, greatcall.com, bestbuy.ca and bestbuy.com.mx brands, as well as through mobile applications and call centers.

As of February 1, 2020, it had approximately 1,175 large-format and 56 small-format stores.

With the recent addition of Play Station 5 sales and in preparation for the upcoming holiday season, sale prices should be moving higher as revenue is likely to increase.

Entry Point: $114.00

Trading Range: $48.11 - $124.89

Stop Loss: $108.00

Target Price: $125.00

 

Updates

1/25/2021 10:27:54 AM

BBY closed at $117.50

Position closed on 1/25/2021 at price of $117.50 with a 3.07% gain in 73 days.

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