Does ‘Smart Home’ Make Best Buy a Smart Pick?

Ben Levisohn for Barron's:  Best Buy (BBY) has gained more than 30% this year, with a big chunk of that gain coming in one day. But can Best Buy keep it up?


Piper Jaffray's Peter Keith thinks it can. While many investors left Best Buy for dead, Keith notes that it's one of the big beneficiaries of what he calls the "smart home," the products that connect the home to the World Wide Web. A recent Piper survey, respondents were becoming "increasingly more interested" in smart-home products, which should get a further boost from Amazon.com's (AMZN) Echo, Alphabet's (GOOGL) Google Home, and Apple's (AAPL) HomePod, which is set to launch in December. So why is this good for Best Buy? Keith explains:

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