With big names continuing to struggle, there are discount stocks to buy out there that may not stay this cheap for much longer.
The stock market is rife with opportunity currently. That opportunity is a product of fear that continues to grip the markets. Remember, there are two sides to every story. So, rather than allowing fear to dictate inaction consider Warren Buffett’s advice: “Be fearful when others are greedy and greedy when others are fearful.”
That contrarian wisdom indicates that discounts abound. The devaluation of tech stocks is a major part of the story. That’s one area where massive opportunities continue to exist. But it isn’t the only one. Overall, successive rate hikes from the Fed are sparking renewed fears that have affected the entire market.
That means those who choose greed rather than fear can find deals in these discount stocks to buy across sectors and industries.
Meta Platforms (META)
The overall notion is thatMeta Platforms(NASDAQ:META) is not Facebook anymore and therefore a sell. In other words, the firm’s rebrand to reflect its future leadership position in the metaverse is being treated as some sort of fatal error.
Avoid that notion because while Meta certainly has obstacles to overcome, those obstacles come with 50% upside.
Yes, Meta did see itsfirst ever year-over-year revenue dropin the second quarter.
The human toll likely won’t be pretty: It’s clear that Mark Zuckerberg is leading a charge to drive more productivity out of his employee base. That means the remaining workers will see more demands placed on their shoulders while headcount decreases. That is an unfortunate product of shareholder value creation and capitalism.
But is likely to result in a leaner, meaner Meta that performs very well in the near future, which puts it squarely in the realm of discount stocks to buy while you have the opportunity. That bet has massive upside built and is reflected in target prices.
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