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Last month Best Buy (BBY) reported earnings on November 24. The company reported an earnings beat on EPS by $0.34 and a revenue beat. Before the report the stock was trading at a near all time high of $124 and then dropped -20% after reporting earnings down to $99.60.
Last week, after dipping -20%, Goldman Sachs (GS) downgraded the bank from neutral to sell. But many investors are asking why? Goldman said that Best Buy won't be able to keep the growth up as they enter 2020, but the company has bee increasing revenues for years leading up to this one. So why is Goldman questioning next year's success?
Now that Best Buy stock is down after reporting good earnings, is it a buy on dip opportunity?