Why AutoZone Stock Sank 21% In May

AutoZone's stock plummeted 21% in May following disappointing quarterly earnings. Revenue grew 8.4% year-over-year to $4.84 billion, missing expectations, while same-store sales growth slowed to 4.1% domestically and 1.6% internationally. The company faces challenges with its expansion in Mexico and Brazil, where sales growth is lagging. However, the stock now trades at a more reasonable P/E ratio of 21, down from 30, making it potentially attractive for value investors.