Best Buy surges on signs that the expected AI-driven PC and smartphone refresh is starting

We believe our primary investment thesis is intact, and therefore reiterate our buy-equivalent 1 rating and $95 price target. Read more...

Bimal Tandel photographs Bhavin Tandel and Dinesh Tandel, crew members on the Klara Oldendorff, in front of a Best Buy in Timonium, Maryland, U.S., March 29, 2024. 

Julia Nikhinson | Reuters

Shares of Best Buy were popping Thursday as management made their case that an artificial intelligence upgrade cycle for personal computers and devices was starting to play out.

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