Best Buy earnings to focus on Apple sales impact, consumer demand

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The Street

By Martin Baccardax Best Buy Co (BBY) – Get Free Report shares moved firmly higher in pre-market trading ahead of the electronics retailer’s second quarter earnings slated for before the opening bell. Analysts expect Best Buy, which relies on Apple for anywhere between 15% and 20% of its overall sales, to post July quarter revenues of around $9.52 billion, a 7.8% slide from last year’s levels. Adjusted profits are forecast to fall 31.2% to around $1.06 per share. Last month, Apple reported a 1.4% decline in overall revenues, while slipped to $81.8 billion, with iPhone sales down 2.5% to $39.67…

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