I would say if there is a stock to buy for the spring and summer just about here it would be AAP (Advance Auto Parts). The stock is near a low not seen since April 2020. It has been trading up for the past several days and I believe it is deeply undervalued. With a P/E of 14 and the spring & summer just around the corner I believe it is a winner for the mid term (next 4 months). Last year things were a little different because many Americans still had some free cash. This is not the case in the last 6-12 months. Americans are living paycheck to paycheck like never before. Savings rates are officially at an all time low. Credit card debt is officially right now at an all time high.
Americans like me are not going out to buy a new vehicle. Suddenly the new car lots are beginning to add inventory and new cars are not being grabbed while in the factory anymore. We are beginning to see that many Americans will just have to themselves or their relative or good friend repair their old beater car and Advance Auto Parts offers plenty. I have purchased some AAP stock [41 shares]. If it dips to $110 again I will buy another 41 shares and hold well into July.
On a more technical note my favorite place to get tips on which stocks to buy for the mid term (Barclays) says to buy: https://www.nasdaq.com/articles/barclays-upgrades-advance-auto-parts-aap I have to go fix my old beater's broken belt – will be back on later to discuss this stock more.
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