AZO - Should You Buy These 2 Top Retail Stocks Near All-Time Highs?
2023-04-17 07:30:00 ET
Soaring inflation, rising interest rates, corporate layoffs, falling consumer confidence, and recent banking troubles are -- unsurprisingly -- worrying investors. To boot, economists are forecasting a recession later this year.
Amid the turmoil, two retail stocks stand out as shining stars. AutoZone (NYSE: AZO) and O'Reilly Automotive (NASDAQ: ORLY) have seen their shares rise 20% and 23%, respectively, over the past 12 months -- fantastic gains compared to the 6% decline that the S&P 500 posted. This continues a long-running trend of crushing the market by the two auto parts retailers.
Although AutoZone and O'Reilly are near all-time highs, here's why they still might be magnificent no-brainer additions to your portfolio right now.
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Should You Buy These 2 Top Retail Stocks Near All-Time Highs?