7 Growth Stocks to Buy After a 20% Correction
Growth stocks typically generate above-average returns compared to the stock market and their peers. We often find growth stocks in an innovative sector or in a new market that grows faster than conventional industries. In the past decade, software, semiconductor, financial technology (fintech), online shopping, biotech, and clean energy have, at least occasionally, been viewed by investors as good spaces in which to find excellent growth stocks to buy. Unlike value stocks, growth stocks trade at relatively high valuations. Picking a growth stock that can live up to its true potential can be difficult, especially when the bear market has taken its toll on the investor sentiment. This decline, although unnerving in the short-run, has also created an opportunity to invest in some of the best growth stocks to buy on Wall Street at very attractive prices. Here are seven names that are in that category. ADBE Adobe $445.67 AMD Advanced Micro Devices $100.83 GILD Gilead Sciences $62.96 LOW Lowe’s Companies $206.47 MELI MercadoLibre $1,081.08 MP MP Materials $38.02 PYPL PayPal $101.10 Adobe (ADBE) Source: r.classen | Shutterstock.com Recent research suggests that the global software-as-a-service (SaaS) market can hit “$720.44 billion by 2028 at a compound annual growth rate (CAGR) of 25.89% during the forecast period of 2022 – 2028.” Given the space’s strong outlook, Wall Street pays close attention to software businesses that can benefit from the sector’s growth.
7 Growth Stocks to Buy After a 20% Correction
Growth stocks typically generate above-average returns compared to the stock market and their peers. We often find growth stocks in an innovative sector or in a new market that grows faster than conventional industries. In the past decade, software, semiconductor, financial technology (fintech), online shopping, biotech, and clean energy have, at least occasionally, been viewed by investors as good spaces in which to find excellent growth stocks to buy. Unlike value stocks, growth stocks trade at relatively high valuations. Picking a growth stock that can live up to its true potential can be difficult, especially when the bear market has taken its toll on the investor sentiment. This decline, although unnerving in the short-run, has also created an opportunity to invest in some of the best growth stocks to buy on Wall Street at very attractive prices. Here are seven names that are in that category. ADBE Adobe $445.67 AMD Advanced Micro Devices $100.83 GILD Gilead Sciences $62.96 LOW Lowe’s Companies $206.47 MELI MercadoLibre $1,081.08 MP MP Materials $38.02 PYPL PayPal $101.10 Adobe (ADBE) Source: r.classen | Shutterstock.com Recent research suggests that the global software-as-a-service (SaaS) market can hit “$720.44 billion by 2028 at a compound annual growth rate (CAGR) of 25.89% during the forecast period of 2022 – 2028.” Given the space’s strong outlook, Wall Street pays close attention to software businesses that can benefit from the sector’s growth.