Best Buy co is a U.S. consumer electronics retailer. Its stocks are trading 50% off their peak values primarily thanks to the general market correction. BBY shares gained 19% every year in the last decade, while the S&P 500 broad market index performed 10% on average. So, the current sell off of the company’s stocks could be considered as a good opportunity to buy them at attractive prices for long-term investments.

Home appliances were in great demand during the pandemic. So, it is hard for the retailer to post additional profits amid already elevated demand. However, the entire model of consumption has changed during the pandemic. People are more inclined to invest in home entertainment and upgrade their appliances and this trend is likely to continue into the foreseeable future.

Best Buy management is constantly reducing the free flow of its shares in the market. It spent $3.5 billion on buy backs during the fiscal year of 2022. Moreover, investors will get $3.52 per share as a dividend.