A sharp selloff has wiped billions of dollars off of valuations in the past few weeks. Growth stocks have been unfairly targeted. Many of these companies offer excellent operating models and great growth potential.
Many people believe that the market has grown overly conservative and the only way to make money is to invest in value stocks. This belief has caused many growth stocks to take a hit even though they are doing well.
Starbucks (SBUX)
Starbucks(NASDAQ:SBUX) is one of the most popular coffee shops in the world. In 1971, Jerry Baldwin and Gordon Bowker worked at a coffee roasting plant in Seattle when they met Zev Siegl. The three men had a dream to open up their store where they could sell high-quality roasted coffee beans and brewed coffee that they would make themselves. They wanted to create their own company, which would serve as a gathering place for people from all walks of life where they could enjoy good conversation over a cup of good coffee.
Starbucks is one of the most prominent brands globally and has a lot of influence on people’s lives. It is not just a coffee shop, but also an American icon that has been around for more than 50 years. The company started as a humble coffee bean roaster and grew into what it is today — a multinational corporation with “more than 32,000 stores in 80 countries.”
However, Starbucks is in trouble. Investors are concerned regarding a slowdown in China, high rates of inflation and employee dissatisfaction. In response, legendary Chief Executive Officer Howard Schultzhas taken the helm for the third timeand faces a hefty to-do list.
Nevertheless, Starbucks is one of the most prominent companies in the world. Take advantage of the sharp market correction and purchase this one at a discount.
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