Supply chain problems and chip shortages continue to impact vehicle production. Also, high inflation is hurting consumer spending. In such a scenario, the demand for auto aftermarket parts providers like Advance Auto Parts (NYSE: AAP) could be strong as people would like to maintain or repair their existing vehicles rather than buy a new one. However, the recently announced Q1’22 earnings of industry peer O'Reilly Automotive (ORLY) reflected that the auto parts retailers are themselves not immune to high inflation and supply chain disruptions. AAP is scheduled to announce its Q1’22 results after the market closes on May 23 and host an earnings call on May 24.
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Advance Auto Parts (NYSE:AAP)
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