Written by Sean Sechler
August 20, 2021
While it might be intimidating to put money to work when the market looks weak, it’s can definitely be worth taking a shot at some buys and slowly scaling into new positions as the market provides more signals that a bounce is on the horizon. Investors should focus on several market-leading stocks if we continue to experience volatility in the coming trading sessions, as they might not get another opportunity to add shares at lower price levels.
That’s why we’ve put together the following list of 3 market-leading buy the dip stocks to focus on going forward. Here are some more details on these top names.
This incredibly strong cybersecurity stock has been trending up throughout 2021 and hasn’t provided too many dips to take advantage of, which is why it’s a name that should be on investors' radar during bouts of volatility in the market. Fortinet is a global leader in broad, automated, and integrated cybersecurity solutions that are increasingly important as cyber threats continue to make headlines on a frequent basis. What’s attractive about Fortinet is that the company’s products serve tons of different customers, including enterprises, service providers, government organizations, and small and medium-sized businesses.
Investors should anticipate spending on cybersecurity to continue for many years to come, and this company’s flagship FortiGate hardware appliances are likely going to see heavy demand given that they offer customers the ability to manage security capabilities across their cloud and software-defined wireless networks. The company is a market leader in cybersecurity and ranks #1 in the most security appliances shipped worldwide, which is certainly an attractive statistic to consider. Finally, the company’s Q2 earnings results were quite impressive, as the company delivered total revenue of $801.1 million, up 30% year-over-year, and a quarterly record free cash flow of $394.7 million.
While some investors might think that NVIDIA stock hasn’t been acting right since its split took place, the truth is that it has likely just been digesting the massive move that occurred earlier this year. It’s a great buy-the-dip candidate to consider, especially after the leading semiconductor company’s recent stellar earnings results. With exposure to some of the most exciting industries globally, including gaming, data center, professional visualization, and automotive, it’s hard to argue against owning at least some shares of NVIDIA for the long term.
Investors should be very optimistic about the company’s immense growth with both its data center and gaming products, with both segments delivering record revenue for the most recent quarter. Q2 GAAP earnings per share for NVIDIA were up 276% year-over-year at $0.94 on record revenue of $6.51 billion, up 68% year-over-year, which are the type of numbers that should give investors plenty of confidence to add shares on dips. This is clearly a tech company operating at a high level even amidst the global chip shortage, and it could be a great idea to consider adding shares during periods of market weakness.
It pays to seek out the strongest companies in their respective sectors whenever you are trying to buy the dip. That’s the case with Nucor, which is arguably the best steel stock in the metals & mining sector to consider owning for the long term. The company is a major manufacturer of steel and steel products and will undoubtedly play a huge part in helping to repair the country’s infrastructure, which is reason enough to consider adding shares. There’s also a lot to like about Nucor’s business as it will benefit from a rebound in construction activity following the pandemic.
The company has delivered two consecutive quarters of record earnings and is clearly benefitting from elevated steel prices at this time. Nucor also recently announced that it has completed a $1 billion acquisition of Cornerstone Building Brands’ insulated metal panels business, which broadens the company’s product base and should be a major positive over the long term, given that the demand for these types of products is expected to grow at double-digit annual rates over the next decade.Before you consider Nucor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nucor wasn't on the list.
While Nucor currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2024 and why they should be in your portfolio.
Get This Free Report
View Charles Schwab Fortifies its Uptrend on EPS BeatCharles Schwab Fortifies its Uptrend on EPS BeatPosted April 23, 2024
From Stansberry Research(Ad)
View Lockheed Martin Stock Aims for a Fresh All-Time HighLockheed Martin Stock Aims for a Fresh All-Time HighPosted April 23, 2024
View High-Yield Texas Instruments Could Hit New Highs SoonHigh-Yield Texas Instruments Could Hit New Highs SoonPosted April 24, 2024
View Pagaya Technologies: An AI Fintech That Insiders Are BuyingPagaya Technologies: An AI Fintech That Insiders Are BuyingPosted April 24, 2024
View GE Aerospace is Ready for Liftoff After Strong EarningsGE Aerospace is Ready for Liftoff After Strong EarningsPosted April 24, 2024
View Higher Oil Prices Could Give NextEra’s Stock Earnings a BoostHigher Oil Prices Could Give NextEra’s Stock Earnings a BoostPosted April 24, 2024
Sign in with Facebook
Sign in with Google