Top 3 Stocks to Buy After Recent Market Sell-Off: Corning, Microsoft, and IMAX
The recent market sell-off has left many investors feeling the pain, especially in the tech sector. While the S&P 500 hasn’t officially entered a correction yet, some stocks have taken a beating and are now trading at a discount. If you’re looking to take advantage of the latest plunge, here are three stocks worth considering:
1. Corning (GLW): Corning was in a strong uptrend before the tech sell-off hit. Despite a 15% drop from its 52-week high, Deutsche Bank upgraded GLW stock to a Buy, citing growth opportunities in the AI-driven demand and telecom sector. With the data center opportunity still intact, now may be a good time to consider investing in Corning.
2. Microsoft (MSFT): Microsoft remains a dominant player in the AI and cloud industry, with a commitment to staying ahead of the competition. Down 13% from its all-time high, MSFT recently partnered with Palantir for cloud and AI services for the U.S. government. Despite trading at a premium, Microsoft’s long-term potential makes it a compelling buy on the dip.
3. IMAX (IMAX): While the movie theater industry is facing challenges, IMAX offers a unique opportunity to bet on the return of the silver screen. With impressive second-quarter results and raised installation guidance for 2024, IMAX stock is trading at a modest price-to-earnings ratio. As the industry recovers, IMAX could play a leading role in the next box office bounce.
In conclusion, the recent market sell-off has created buying opportunities in hard-hit stocks like Corning, Microsoft, and IMAX. By investing in these companies at a discount, investors can potentially capitalize on future growth and recovery in their respective industries. It’s important to do your own research and consider your risk tolerance before making any investment decisions.