The Nasdaq Is Down More Than 25% This Year. Time to Buy These 5 Top Stocks
KEY POINTS
Rivian has reaffirmed its target to produce 25,000 vehicles this year.
Tesla's forward price-to-earnings ratio has fallen to around 58, from 86 at the start of the year.
Nvidia is eyeing $1 trillion worth of opportunity across its various offerings.
They are all available at current tariffs.
While most investors do not like market adjustments, they do offer good opportunities to add strong stocks to your portfolio in the long run. With the Nasdaq Composite index declining by about 27% this year as recorded, several growth shares have also seen significant adjustments. Let’s talk about the top five stocks that look the most attractive right now.
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They just revealed what they believe are the ten best stocks for investors to buy right now…
Stock of electric car (EV) manufacturer Rivian (RIVN -5.09%) repaired about 77% this year and has broken 86% from its high value of $ 172. The stock market capitalization, which exceeds $ 150 billion after enrollment, has dropped to $ 22 billion.
Rivian did well in the first quarter, producing 2,553 cars. As of May 9, the number of vehicles produced has risen to nearly 5,000. Importantly, the company expects to achieve its 25,000 vehicle targets by 2022. With more than 90,000 pre-orders for its R1 truck and SUV, as well as the first order of 100,000 electric delivery vans from Amazon, Rivian has something to look forward to.
Because Rivian is a young EV maker who makes stock losses include risk, but the company’s progress so far seems very encouraging. If you have been thinking of buying stocks, now is a good time to do that.
ChargePoint
The stock charge of the leading EV provider ChargePoint (CHPT -2.31%) has dropped by almost 50% per annum to date. ChargePoint is the largest 2-level public charging provider for EVs in North America, capturing about 70% of the market.
Its global model and expansion and various financial resources have allowed ChargePoint to grow its revenue significantly in recent areas. As a leading industry leader with a long aviation route, ChargePoint looks set to grow. The fall of the year to date of the stock price provides an attractive entry point for long-term investors.
Tesla
The vast majority of investors regret not buying Tesla stock (TSLA -4.38%) three years ago, when it traded near $ 35. Then, an investment of $ 10,000 over the past three years would increase more than 15 times to $ 152,000 today. If you were thinking of buying a flying stock at the time but didn't, now would be a good time.
Tesla's stock has dropped by almost 30% this year, although it posted strong performance in the first quarter. As the above chart shows, the price-to-earnings ratio (P / E) of a stock of almost 99 stock is far below its average historical level. Its previous P / E rating, based on expected revenue for 2022, has dropped to very attractive levels.
Tesla's forward P / E rating dropped to about 58, up from 86 earlier this year. All in all, Tesla's stock looks more attractive now than it was in January.
Enphase Energy
The stock of solar microinverter manufacturer Enphase Energy (ENPH -2.38%) has dropped by about 23% so far this year. The solar specialist increases its quarterly sales by an annual rate of 46% for five years. At the same time, its profitability has also increased. Enphase microinverter is much needed as it offers a few advantages over other conversion options on the market.
Considering the expected growth in solar energy use, Enphase has a long flight path. The P / E rating of 120 stocks looks high but still below the five-year average level. In addition, the Enphase Energy forward P / E stock of about 41 is below 53, where it stood at the beginning of the year.
Nvidia
Nvidia's photo cards (NVDA -1.94%) are experiencing a growing demand due to their widespread use, which includes emerging areas such as artificial intelligence, autonomous vehicles, robots, and virtual reality. Moreover, the demand for these components is expected to grow in the coming years. Nvidia believes it has a potential value of $ 1 trillion in all its various offerings.
Nvidia's stock has dropped by 45% so far this year, in part due to overcrowding. The 42-year P / E of stock is significantly below the five-year P / E average of approximately 69 years. Its 29-year P / E recurrence looks very impressive compared to the average 68 at the beginning of the year. In short, now would be a good time to add Nvidia to your portfolio.
