During the 12-week period that ended May 4 -- its fiscal 2024 third quarter -- AutoZone (AZO -0.09%) reported 3.5% and 7.5% gains in revenue and diluted earnings per share, respectively. Shareholders weren't pleased with those results and immediately sent the stock lower following the news.
As of May 24, shares of the auto parts retailer were 14% off their peak price from earlier this year. This presents a lucrative buying opportunity. Here's why AutoZone is a no-brainer stock to buy with $100 right now. Note that the stock trades over $2,700 per share, so if you've only got $100 to invest, you'll need to buy a fraction of a share.