The tech sell-off that began in late October continued through early November, affecting various sectors beyond AI-related stocks like Palantir Technologies (PLTR), with tech down 5.25%, communication services down 4.27%, and consumer discretionary down 3.45%. Pullbacks are seen as healthy in market cycles, with guidance being crucial.
Three companies with strong fundamentals and bright futures available at a discount during the pullback are Meta Platforms (META), T-Mobile (TMUS), and Home Depot (HD). Meta reported Q3 earnings with EPS of $7.25 and revenue of $51.24 billion, showing a 26.2% YOY increase. The company plans to invest heavily in AI infrastructure.
Home Depot, despite missing Q2 earnings, remains a reliable investment option. The stock is down over 11% since the earnings report but boasts a reasonable P/E ratio of 24.60. Patient investors benefit from the company’s consistent dividend payouts, with shares yielding 2.54% annually.
T-Mobile, the second-largest mobile carrier in the US, beat Q3 earnings with EPS of $2.41 and revenue of $21.96 billion. Despite positive numbers, the stock fell nearly 9% post-earnings. Wall Street is bullish on T-Mobile’s growth potential, with an average 12-month price target of $266.83, representing 23.49% potential upside. 1. The stock market took a hit today, with the Dow Jones Industrial Average dropping 500 points due to concerns about rising inflation rates.
2. A new study found that 80% of Americans are now shopping online, with online sales reaching a record high of $900 billion in 2020.
3. The CDC announced that fully vaccinated individuals no longer need to wear masks in most indoor and outdoor settings, following a significant drop in COVID-19 cases nationwide.
4. The United Nations reported that global carbon dioxide emissions have reached a record high, with a 5% increase in 2021 compared to pre-pandemic levels.
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