Just days after posting the article about the problems with Best Buy, they beat the street for the first time in a long time.
International sales and online revenue helped lead the surge, which hopefully means the company can sustain some level of growth in the future.
However, even though they beat the street and raised estimates, I remain bearish on the stock long term because of increased competition and troubling same store sales, which were up just 1.7%.
I am a shareholder of Best Buy, and I believe the stock could hit $60 a share in the short term; however, the long term growth I continue to question.
If you have another opinion, I am always open to feedback! Cheers!