Why Best Buy Co Inc. (BBY) Went Down On Thursday

We recently published a list of Traders Ditched These 10 Stocks. Here’s Why. In this article, we are going to take a look at where Best Buy Co Inc. (NYSE:BBY) stands against other worst-performing stocks.

Best Buy tumbled by 7.27 percent on Thursday to end at $66.32 each as investor sentiment was dented by a lowered growth outlook for the rest of the year.

In a statement, Best Buy Co Inc. (NYSE:BBY) said it now expects revenues for the full 2026 fiscal year to settle between $41.1 billion and $41.9 billion, a reduction from the $41.4 billion to $42.2 billion prior guidance.

Comparable sales are expected to either dip or inch up by 1 percent, as opposed to its earlier growth target of 2 percent.

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

Best Buy Co Inc. (NYSE:BBY) said the updated guidance takes into account the potential impact of trade tariffs.

“Our underlying working assumptions are that tariffs stay at the current levels for the rest of the year, and there is no material change in consumer behavior from the trends we have seen in recent quarters. As you can imagine, and based on our history, we will continue to scenario-plan and adjust with agility as the situation evolves,” said Best Buy Co Inc. (NYSE:BBY) CFO Matt Bilunas.

In the first quarter of fiscal year ending May 3, 2025, revenues ended flat at $8.8 billion.

Overall, BBY ranks 8th on our list of worst-performing stocks. While we acknowledge the potential of BBY, 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.

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