Can Best Buy Survive The Amazon Threat?
- Date: 14-Sep-2020
- Source: Forbes
- Sector:Financial Markets
- Country:GCC
Can Best Buy Survive The Amazon Threat?
TORONTO, ONTARIO, CANADA - 2018/07/07: Entrance of a Best Buy store during a day with blue clear ... [+] sky. (Photo by Roberto Machado Noa/LightRocket via Getty Images)
LightRocket via Getty Images
Best Buy's stock (NYSE: BBY) has grown by a strong 113% (as of September 10) since the coronavirus low on March 23, pushing its market value close to $28 billion. Over the same time, Amazon's stock (NASDAQ: AMZN) has gained about 70% of its value and has literally dwarfed all of its retail competitors, with a valuation of nearly $1.6 trillion. Best Buy has a significant share in the U.S. consumer electronics retail segment, with a market share of about 15%. However, the company has lost share in recent years to online
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