Are Best Buy (BBY) and Research In Motion (RIMM) buys here? - Michael Shulman

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Are Best Buy (BBY) and Research In Motion (RIMM) buys here?
Dec 24, 2008 06:30 PM UTC

Michael Shulman

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Symbol	Sentiment	Start	Return	Closed
RIMM		12/24/08	-45.69%	--
COST	n/a
BBY		12/24/08	-62.02%	--
WMT	n/a
AAPL		12/24/08	-140.11%	--

Via BloggingStocks:

Filed under: Apple Inc (AAPL), Wal-Mart (WMT), Newsletters, Best Buy (BBY), Costco Wholesale (COST), Research in Motion (RIMM), iPhone, Stocks to Sell, Technology

The long-only money managers and analysts getting their 15 seconds of fame on CNBC are pounding the table shouting "Tech is on sale! Tech is on sale."

Is it?

Are the great electronics brands -- like Best Buy (NYSE: BBY) and Research In Motion (NASDAQ: RIMM) -- truly on sale?

Best Buy

Best Buy beat earnings estimates and announced plans to offer buyouts to virtually all of its nearly 4,000 headquarters employees. Say what!?!

Translation: Management is very good and business is going to be very bad.

What should investors do?

The recession is going to get much worse, and will be as bad or worse in Q4 of next year. ChangeWave Research consumer spending survey data shows 2009 -- at least the earlier part of it -- is going to be far worse than Wall Street expects. And logic says that this will hit Best Buy stock.

Furthermore, Wal-Mart (NYSE: WMT), Costco (NASDAQ: COST) and other discounters are hurting Best Buy's business as the more "advanced" products become mainstream, and require little, if any, sales support.

Also, Wal-Mart may get the iPhone. Will Mac laptops soon follow?

Continue reading Are Best Buy (BBY) and Research In Motion (RIMM) buys here?

Are Best Buy (BBY) and Research In Motion (RIMM) buys here? originally appeared on BloggingStocks on Wed, 24 Dec 2008 13:30:00 EST. Please see our terms for use of feeds.

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