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Was Jim Cramer Right About Best Buy Co., Inc. (BBY)?

We recently published a list of Was Jim Cramer Right About These 11 Stocks? In this article, we are going to take a look at where Best Buy Co., Inc. (NYSE:BBY) stands against other stocks that Jim Cramer discusses.

Best Buy Co., Inc. (NYSE:BBY) has faced sluggish demand in the consumer electronics space, with investors waiting on a rebound at  the time. In that older episode, Jim Cramer positioned the stock as a long-term turnaround play tied to a future AI-powered PC refresh cycle. Here’s what he said back then:

“There are two challenge retailers that my charitable trust is positioned in that I’m not telling people to buy right now. I don’t expect anything good to happen but we’re sticking with them because the trust believes we have to be in early to anticipate the turnaround. I’m talking about Best Buy and Foot Locker. Both stocks act terribly as I would say my old hedge fund. […]

Best Buy will be the recipient someday of the new wave of PCs with integrated AI. Come to fall we want to get ahead of that because once they’re in the stores, I don’t think you’ll be able to buy Best Buy at a 5.3% yield, which it has right now. Because of AI, we should have the biggest PC refresh cycle in history, okay? Maybe even bigger than the ’90s, so I want that Best Buy exposure.”

A busy retail store showcasing a wide range of consumer electronics.

Cramer’s early turnaround bet didn’t go far as Best Buy is only up 0.42%. Best Buy Co., Inc. (NYSE:BBY) is banking on a PC refresh cycle driven by AI adoption to revive sales and offset softness in consumer electronics demand.

Overall, BBY ranks 10th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of BBY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BBY and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

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And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

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