5 Best Stocks To Buy On The Dip Now
It's been a tough year for Wall Street, with major stock indexes falling to their lowest levels in decades. Recently, however, the stock market has slowly started to recover amid signs of economic recovery and low inflation.
For investors with a long-term view, now is the time to buy some popular stocks at a discount. Here, we've listed five of the best stocks to buy right now, considering their future upside potential.
1. Etsy
Founded in 2005, Etsy is an online e-commerce marketplace where independent artists list and sell their products. The company is mainly involved in the sale of handmade items, collectibles, vintage items, clothing and many other handmade products.
Like most of the stock market, Etsy has struggled with strong economic headwinds over the past 12 months. The shares are now down nearly 42 percent due to weak consumer purchasing power.
However, Etsy shows significant long-term growth potential. The company pays special attention to the customization function, no other online market offers such customization services to buyers. Etsy sellers are sole traders and small businesses who know customers personally and meet their needs.
Additionally, according to Etsy's buyer statistics: In March 2021, 36.3 million of the 90 million active buyers who visited the marketplace in 2021 were repeat buyers, a 121% increase over 2019. The company defines these "regular/repeat buyers" as those who spend $200 or more and make purchases on six or more days in the past 12 months.
etsy inc He also has experience reinvesting cash to improve the functionality of the platform to improve the user experience. With this competitive advantage, ETSY is a good choice for investors who take a long-term investment approach.
2.zscaler
Zscaler is a California-based IT security company that provides cloud security and cloud migration services. The company's core project is the Zero Trust Exchange, which protects customers from cyber attacks and prevents data loss by securely connecting devices and applications to users.
Like many tech stocks, ZS has been suffering from the broader economic crisis since last year. In the year since peaking in November 2021, the stock has lost more than 58% of its value so far.
However, Zscaler has impressive future potential that could see it grow exponentially in the coming years. The Zero Trust project is the biggest catalyst that can fuel growth in line with the growing cloud technology. This technology is based on the hostility of any communication with the digital elements of the organization. Therefore, the position, equipment and role of all employees without exception are analyzed to identify possible threats to their roots.
What's more, things are looking good for the cybersecurity company, with its latest fourth-quarter report showing 61 percent revenue growth and 57 percent year-over-year billing growth.
Zscaler is one of the best stocks to buy today as the company demonstrates operational efficiency by offering innovative and advanced services integrated into its Zero Trust security platform.
3. Walgreens Shoe Alliance
Walgreens Boots Alliance is a leading retail pharmacy that operates several companies to manufacture and sell pharmaceutical products. WBA shares have fallen nearly 21 percent since the start of the year, but are showing signs of recovery as the company grows in its healthcare business.
Walgreens shares are currently trading at a low price , indicating future growth potential. The corporation is also preparing to create more medical platforms to expand its digital presence and increase revenue. Because the WBA's "Dividend Aristocrat" status offers a yield of nearly 5.5%, it can't be beat compared to the average dividend yield of most stocks and current US Treasury yields.
Walgreens Boots Alliance may be one of the best stocks to buy right now, as Cowen upgraded WBA from its previous market perform rating to "outperform " on Tuesday. The investment research firm raised its price target from $43 to $54.
4. Advanced Microsoft
Advanced Micro Devices is a leading name in the semiconductor industry. The company manufactures computer processors and graphics technologies for the consumer and business sectors. AMD stock is currently down nearly 50%, but has great potential for double-digit gains in the coming years.
First, Advanced Micro Devices is the most diversified high-end semiconductor manufacturer in the industry. In addition to developing hardware for Sony and Microsoft, it also provides services to several well-known tech giants, including Tesla, Alphabet and Amazon. Combined with the acquisition of Xilinx, a semiconductor company specializing in programmable logic devices, this year ADD
AMD's latest quarterly report, released on November 1, showed that its data center, gaming and embedded systems segments posted strong year-over-year growth, while customer segment earnings were below expectations. However, the company's biggest long-term opportunities may be in the data center, especially if adaptive technology is a major force.
5. Buy
Shopify is a versatile e-commerce company that allows businesses to create online stores and sell products on their own e-commerce platform, also known as Shopify.
The company has been hit hard by high inflation and adverse economic conditions over the past 12 months, with a year-on-year decline of more than 75 percent.
However, from a broader perspective, Shopify is still the leader in e-commerce software with a very strong foundation. According to Oberlo, online sales are expected to continue to grow and surpass retail sales in the coming years. Global e-commerce retail sales are estimated to exceed $8.1 trillion by 2026, with e-commerce accounting for 24% of total retail sales. This prediction significantly strengthens Shopify's future position.
Additionally, the company recently added B2B tools to Shopify Plus, enabling merchants to sell D2C and B2B from the same platform. This integration is positive for Shopify in terms of the growing B2B market.
Therefore, SHOP may be one of the best stocks to buy right now, as it is currently trading at a deep discount and fair value.
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