Top Automotive Stocks Worth Watching – March 2nd

AutoZone, O’Reilly Automotive, and Monolithic Power Systems are the three Automotive stocks to watch today, according to MarketBeat’s stock screener tool. Automotive stocks are shares of publicly traded companies whose primary business is designing, manufacturing, selling, or supplying motor vehicles and related components and services (this includes carmakers, parts suppliers, electric-vehicle firms, and dealer groups). Investors buy these stocks to gain exposure to the automotive industry’s performance, which tends to be cyclical and is influenced by consumer demand, commodity and supply-chain conditions, technological change (EVs, autonomy) and regulation. These companies had the highest dollar trading volume of any Automotive stocks within the last several days.

AutoZone (AZO)

AutoZone, Inc. retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.

O’Reilly Automotive (ORLY)

O’Reilly Automotive, Inc., together with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company provides new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting products, and oil and wiper blades; and accessories, including floor mats, seat covers, and truck accessories.

Monolithic Power Systems (MPWR)

Monolithic Power Systems, Inc. engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.