Best Buy Takes a Hit On Apple Buzz

BBY just saw its worst quarter since 2014

Digital Content Manager
Jan 3, 2019 at 9:57 AM
facebook X logo linkedin

Best Buy Co Inc (NYSE:BBY) is just one of many companies caught in Apple's (AAPL) crosshairs this morning, after the tech giant lowered its quarterly revenue guidance on slipping iPhone sales in China. As a major retailer of Apple products, Best Buy shares are now down 4.4% at $51.26, and UBS just cut its price target on BBY to $57 from $70. 

Along with the broader stock market, the electronics retailer has taken a beating recently. The shares fell 33.2% last quarter -- the steepest quarterly loss since early 2014 -- and touched an annual low of $47.72 on Dec. 24.

Analysts have cooled on BBY, too. Now, just three give it a "strong buy" rating, while 14 others consider it a "hold" or worse. However, additional price-target cuts could be coming. The consensus 12-month price target of $72.05 represents a nearly 40% premium to current levels. 

Options bulls are beginning to hit the exits on BBY, too. Currently, the security sports a 50-day put/call volume ratio of 1.36 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which is in the 69th percentile of its annual range. This indicates that option buyers have picked up BBy puts over calls at a faster-than-usual clip in the past 10 weeks. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI