Best Buy (BBY) Ready to Rock?

Most investors are aware of the challenges facing Best Buy (NYSE:BBY) from serious competition from Wal-Mart (NYSE:WMT) and Amazon.com (NASDAQ:AMZN), yet the company may be close to a period of breaking out with its earnings, making it a possible good entry point for investors.

Shares of the company have plunged by about 10 percent from its last quarterly report, and its weakness heading into earnings could offer a surprise.

Considering hardware sales remain strong, along with retail sales, and the retailer could surprise nicely to the upside, providing investors with s good earnings play.

Best Buy closed Monday at $31.90, gaining $0.37, or 1.17 percent.