To borrow a principle from Benjamin Graham and Warren Buffett, price is what you pay, but value is what you actually get. I certainly wouldn't be the first commentator to call Advance Auto Parts (NYSE: AAP) stock a value trap, but even after a precipitous share price drop, it's difficult to find value in this automotive parts retailer.

Sure, Advance Auto Parts stock bounced 4.4% the day before the company released its third-quarter 2023 earnings results. However, many beaten-down stocks caught a bid that day due to a better-than-expected inflation report. When Advance Auto Parts released its quarterly report the next day, the stock tanked and it's not difficult to see why investors were in a bad mood.

To understand the present, investors should examine the past. In the case of Advance Auto Parts, examining previous quarterly earnings reports will reveal an unfortunate pattern of guidance cuts.

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Source Fool.com