The Nasdaq Just Hit Correction Territory: The 2 Smartest Stocks to Buy and Hold Forever
With the Nasdaq Composite (NASDAQINDEX: ^IXIC) moving into correction territory (down at least 10% from an all-time high), several of its constituent stocks are suddenly a lot more attractively priced than they were to start the year. While investors never like to see markets pull back into correction territory, it does present a great buying opportunity for some great companies caught up in the sell-off.Let's look at two quality stocks you can buy on this market dip and hold forever.With the market pullback, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) finds its shares down about 20% (as of this writing) from its all-time highs set in early February. The dip in price brings its stock down to a very attractive valuation of a forward price-to-earnings ratio (P/E) of 18.5. That's not expensive for a company with the set of businesses that Alphabet owns.Continue reading
With the Nasdaq Composite (NASDAQINDEX: ^IXIC) moving into correction territory (down at least 10% from an all-time high), several of its constituent stocks are suddenly a lot more attractively priced than they were to start the year. While investors never like to see markets pull back into correction territory, it does present a great buying opportunity for some great companies caught up in the sell-off.
Let's look at two quality stocks you can buy on this market dip and hold forever.
With the market pullback, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) finds its shares down about 20% (as of this writing) from its all-time highs set in early February. The dip in price brings its stock down to a very attractive valuation of a forward price-to-earnings ratio (P/E) of 18.5. That's not expensive for a company with the set of businesses that Alphabet owns.
