Why It's A Best BuyBy
When Best Buy (BBY) was last mentioned in this column, on Oct. 20, 1997, the stock was trading at 7 a share (adjusted for two 2-for-1 splits). Since then, this retailer of consumer-electronics products and home-office equipment has never looked back. It hit 31 by yearend 1998 and then rocketed to 80 by July, 1999. When the stock faltered later in the summer, bears rushed to forecast the end of Best Buy's long bull run. Is this it?
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