One Analyst Sees the Better Side of Best Buy

"Today's problems in consumer technology are structural, they hit all retailers, all suppliers, and all brands equally," he wrote. "The change in product demand, and the shift in the customers' view of the value and the necessity of their devices have caused a sea change in the market. Retailers, as the ones most connected to the consumer, feel these changes first -- and when you are the biggest and the most successful retailer, you feel the change ahead of the other retailers. There is no doubt that Best Buy is in that position."

Best Buy has lost about a third of its value since its high of $32.85 in June. Dunn's departure in the midst of a probe into allegations of personal misconduct focused a spotlight on the company and its practices, just one factor that lead to the decline. The Minneapolis Star Tribune and other media outlets have reported that the Dunn investigation centers on the alleged misuse of company assets involving an inappropriate relationship with a female employee. The company has declined to disclose the details of the investigation.

That story also has reignited allegations first raised by research company Management CV two years ago about favoritism granted to Best Buy founder Richard Schulze's relatives. Schulze remains Best Buy's chairman and the company's largest shareholder, with a 20% stake.

Beyond these issues, however, Best Buy continues to face the challenges of its marketplace, and on that point, Baker offers no debate.

--Written by Christina Cheddar Berk at CNBC