Factory ammo come in boxes with the tip of the bullet down, is that the best way to store it?
Or should it be turned so the nose/bullet tip is up to avoid damage which could in theory
cause accuracy issues?
Unless you are smashing the entire tip 90 degrees it doesn't matter. In fact, most polymer tipped ammo you could rip the tip off and probably wouldn't notice the different at 400 yards.
Store them however you would like in a cool, dry space away from any chemicals (ammonia based).