Best Buy, which survived e-commerce competition from Amazon by matching online prices, building in-store vendor partnerships, and investing in services like Geek Squad, is now focusing on AI to boost returns amid flagging sales growth. Current CEO Corie Barry is out at the end of October, and new CEO Jason Bonfig, who has overseen retail media and marketplace, will take over. Jefferies, which has a buy rating on Best Buy stock, praised the appointment, calling those businesses "needle-moving profit engines." Growth for both will depend on leveraging AI for customer targeting, ad selection, product discovery, seller tools, and fraud detection. As of Wednesday's close, Best Buy stock sat 54% below its all-time closing high from November 2021. At present time, 8 analysts rate the company a buy, 17 are neutral, and 3 have sells; Goldman Sachs cut its rating earlier in April, citing upward pressure from the global memory-GPU shortage on device costs. The consensus analyst estimate is for a 14% gain by year-end.