1509 ET - Best Buy may stay range bound even if shoppers have more money to spend, according to JPMorgan in a research note. While analysts expect a near-term tax stimulus-related pop to demand, they see "a tough near-term setup" with difficult comparisons ahead as Best Buy laps the Switch 2 launch in 2Q and Windows 10 expiration in October. They also expect the doubling of prices in the memory market to prompt most PC brands to raise new product prices 20-30%, a headwind for Best Buy, where computing makes up more than 35% of sales. The analysts also expect continued sluggish trends in TVs and appliances, "with housing still stuck for now." JPMorgan cuts Best Buy to neutral from overweight. (amira.mckee@wsj.com)

(END) Dow Jones Newswires

February 02, 2026 15:09 ET (20:09 GMT)

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