We are buying 100 shares of Best Buy at roughly $74.11. Following the trade, Jim Cramer’s Charitable Trust will own 1,000 shares of BBY, increasing its weighting to roughly 2.35% from 2.12%. Shares of Best Buy have fallen below the price of our last purchase, which provides us with an opportunity to make another incremental buy while also reducing our overall cost basis. The reason for building up our position in the electronics retailer has not changed. We still expect a rebound in PC demand, as we are now about four years past the start of the Covid-19 pandemic, a period that saw many rush out to upgrade their hardware for home offices. Four years is about how long most consumers wait before replacing or upgrading PCs, especially when they are relied upon for work. Moreover, the launch of AI-powered computers provides a new reason to update to the latest models. Our belief that demand is coming was bolstered by last week’s earnings release from Microsoft , when the tech giant reported Windows OEM sales were up 11%, marking the third straight quarter of growth as PC market volumes recovered to pre-pandemic levels. While we wait for the PC rebound to play out, we are slowly building up our position at increasingly better share prices. In the meantime, we are being rewarded with a strong 5% dividend yield. That’s a great yield, even in a higher-for-longer rate environment. But it stands to get even more attractive — and likely prompt more buyers to step in — should interest rates pull back. (Jim Cramer’s Charitable Trust is long BBY. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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