O'Reilly Automotive, AutoZone hit record highs after Trump's planned auto tariffs

Shares of auto parts retailers O'Reilly Automotive ORLY.O and AutoZone AZO.N climb to record highs and are among top S&P 500 .SPX performers on Thurs after Trump's latest tariffs salvo

ORLY stock up 3%, and AZO shares jump nearly 4%; peer Advance Auto Parts AAP.N rallies >7% to about 1-mth high

U.S. President Donald Trump on Weds said he would impose 25% tariffs on all imported vehicles and foreign-made auto parts imported into the country, sending shares of automakers such as General Motors GM.N and Ford F.N tumbling

In research note, JP Morgan said it expects the parts and services business to gain from higher prices and increased traffic as consumers keep their cars longer

Last week, DA Davidson upgraded AZO, saying co is inflation/tariff beneficiary since higher prices have historically been passed through to customers in margin neutral way, with little loss of volume

With moves on the session, ORLY and AZO up 20% and 19%, respectively, YTD vs 3% decline in the SPX

Despite the gain on Thurs, AAP down 14% in 2025