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The chip shortage will eventually be worked out. The question is which stocks in the auto industry are most likely to pop as vehicle supply remains low while demand continues to spike. Let’s take a quick look at three auto stocks racing to new highs in Advanced Auto Parts (AAP), Cooper Tire & Rubber (CTB), and Toyota Motor Corporation (TM).
AAP is one of the top players in the auto aftermarket industry. The company sells auto replacement parts, accessories, and other vehicle-related sundries such as maintenance items, batteries, etc.
