Why Did Best Buy Stock Drop Today?

Best Buy stock fell 4.3% despite beating earnings expectations ($1.47 vs $1.35 expected), exceeding sales forecasts ($9.8B vs $9.5B expected), and raising full-year guidance. The company reported 3.6% sales growth and 15% profit growth in fiscal Q2 2027, with only a minor 4.2% decline in international sales. The stock decline appears disconnected from the positive fundamentals, with the company trading at an attractive 12.2x forward earnings.