The stock market has gotten crushed in 2022. The tech-heavy Nasdaq Composite index has plunged 28% year to date, even after the largely positive week of trading on July 20-24.
This drop has brought shares of a few companies down to extremely appealing levels. Apple, Coupang, and Airbnb have all fallen to the point where shares are begging to be bought, and with these three stocks, investors should consider doing just that.
1. Apple
Apple might not excite many investors because of its $2.25 trillion market cap, especially considering its saturation in the smartphone space. Some estimates put Apple's Q1 2022 smartphone market share in North America at a staggering 51%, which leaves little room for growth.
However, Apple's potential isn't tapped out. Its wearables division has the opportunity to increase the value of its watches for consumers, which could dramatically boost demand and revenue. One way Apple is doing this is by integrating health features into the Watch. The tech titan already has heart rate, blood oxygen, and fall-detection monitors on its current Watches, but it could offer non-invasive blood glucose and sleep tracking features in the future.
Considering Apple's wearables division represented only 9% of total revenue in its second fiscal quarter, which ended March 26, 2022, there's a lot of room to grow this segment if these features can improve the value and demand for its wearables.
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