3 Reasons Best Buy Stock Will Likely Be Higher in 5 Years
Best Buy (NYSE: BBY) continues to beat the odds. Despite intense competition from the likes of Amazon and Walmart, the retail giant has found a way to remain vibrant amid an intensely competitive and fast-changing electronics market. The future remains unpredictable, and no expert can guarantee its continued success over the next five years. Nonetheless, Best Buy's prospects remain bright for the following three reasons.
The rise of e-commerce certainly contributed to the decline of electronics stores such as Fry's Electronics, Circuit City, and CompUSA. Many believed Best Buy had turned into Amazon's showroom, and it would likely fail as a result. However, Best Buy fought back by cutting costs and matching Amazon's prices.
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Source Fool.com
