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JB Hi-Fi Shares Surge As Officeworks Owners Shares Wobble

JB Hi-Fi shares have continued their run and are now a standout as the market marks down big retailers including Wesfarmers and Harvey Norman.
This month JB Hi Fi shares have climbed 7.72% while Harvey Norman has fallen 3.5%, Kogan down 8.60% and Wesfarmers off by 2.61%.

Earlier today JB Hi Fi shares jumped 1.8% to a two-week high of $64.12 on volume about 35 per cent above the 20-day average for this time of da

As for Wesfarmers owner of Officeworks, & Bunnings their share market valuation “continues to look stretched” according to Morgan Stanley as it trims its earnings forecasts.

Earlier today Wesfarmers fell 7% to a three-month low of $63.06 afterwards.

The retailer who has been expanding categories and rolling out a mew online marketplace, has delivered decent share price growth of 15% on the ASX over the last few months.

The recent share price gains has brought the company back closer to its yearly peak unlike Officeworks and Bunnings owner Wesfarmers.

Analysts claim that the retailer who owns The Good Guys seems fairly priced right now, but given the uncertainty from negative returns in the future several are tipping that the business will remain “fairly stable”.

A big contributor in the first half of the new year is set to be new foldable smartphones, and a big range of AI Snapdragon notebooks running Microsoft’s upgraded Copilot Ai software.



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