1229 ET - Best Buy could have a longer runway for growth thanks to the proliferation of AI across hardware devices, Truist analysts Scot Ciccarelli and Joseph Civello say. Consumers are using AI primarily via computers and phones, but newer AI models continually require higher-tech hardware, the analysts say. AI is also being incorporated into smart glasses, rings, watches and home automation systems, they note. They see a potential for even greater integration into televisions and other appliances. "As AI proliferates, we think we could see an accelerated adoption process for consumer hardware that would ultimately benefit Best Buy," the analysts say.
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