Opportunistic investors can still find great deals in the stock market, even with the Nasdaq Composite rising by 49% since the beginning of 2023. The Nasdaq Composite has been through a lot of ups and downs in recent years, but it has shown strong growth in the current bull market.
During bull markets, there are always opportunities to find undervalued stocks. Even when the Nasdaq Composite pulls back slightly from its record highs, investors who are willing to do their research can still find growth stocks at a discount.
Here are four top growth stocks that investors might regret not buying in this new Nasdaq bull market:
1. Intel: While Intel may not fit the traditional definition of a growth stock due to flat sales forecasts, its earnings per share are expected to quadruple by 2027. Despite facing challenges from competitors like Advanced Micro Devices, Intel remains a dominant player in the CPU market and has promising high-growth initiatives in the pipeline.
2. BioMarin Pharmaceutical: This rare-disease drug developer has a strong track record of successful drugs and a promising pipeline. Despite some setbacks with one therapy, BioMarin’s superstar drug Voxzogo is showing impressive sales growth, and the company’s focus on rare indications offers strong pricing power and little competition.
3. SentinelOne: This endpoint cybersecurity company is experiencing steady sales growth and increasing key performance indicators. With a growing number of customers generating significant annual recurring revenue, SentinelOne is on track to achieve profitability in the near future.
4. PayPal Holdings: Despite facing competition in the digital payment space, PayPal’s strong network and active user engagement are driving growth. With a growing total payment volume and a focus on cost-cutting and margin expansion, PayPal remains a top player in the fintech industry.
These four growth stocks offer great potential for investors looking to capitalize on the current bull market in the Nasdaq Composite. With solid growth prospects and attractive valuations, these stocks could be valuable additions to a long-term investment portfolio.