2 Stocks to Buy on a Pullback
Here are two stocks I’ll buy if we pull back in March.
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Mike Sakuraba graduated with double major of English and Economics. Part time writer, part time investor, full time dad. Mike loves writing about technology, sports, and investing.
2024-03-09 11:27

2 Stocks to Buy on a Pullback
After a whipsaw session on Friday, everyone’s asking: are the markets finally going to pull back? We’ve seen some weakness in tech stocks lately and on Friday, NVIDIA (NASDAQ: NVDA) finally fell by about 5.55% and a further 2.77% in extended trading. Semiconductor stocks have been the last to fall and this could be the signal that the market is looking to reset before the next leg up.
2 Stocks to Buy on a Pullback
It was a rare red week for the major indexes and the worst week for the Dow Jones since October, despite the addition of Amazon (NASDAQ: AMZN). So am I hoping for a pullback? You could say that. I believe we’re still in a strong bull market and the uptrend is still intact. But a little market reset never hurt. Here are two stocks I’ll buy if we pull back in March.

Alphabet (NASDAQ: GOOGL)
It’s been a while since market sentiment for Alphabet has been so negative. It’s true, the company has botched its AI chatbot release so far and has suffered a lot of backlash on social media because of it. There’s a chance it could even cost current CEO Sundar Pichai his position as the head of the company. But some people are leaving this stock to die and calling it a zero. Really? A company that saw nearly $70 billion in free cash flow in 2023 and is currently trading at a forward PE Ratio of just 20?

Alphabet has a monopoly on internet searches and some consider Google Search to be the most valuable entity on the planet. With Search you also get the company’s powerful AI team, YouTube, Android, and Google’s other products like Gmail and Maps. Don’t let wokeness taint your investment thesis. Alphabet is one of the greatest companies this world has ever seen and if it continues to fall I’ll be buying at these rock bottom prices.

Tesla (NASDAQ: TSLA)
Call me a glutton for punishment. I know it’s been a rocky year for Tesla as the stock has already fallen by about 30% this year. I know the headlines have been negative and CEO Elon Musk’s popularity among shareholders is nearing an all-time low. As long as interest rates remain high, Tesla is going to struggle to get the same margins as it did before.

But there is just too much going on with this company to let the stock continue to fall towards its 52-week low price. When investing in Tesla, your horizon always needs to be five to ten years. It always needs to see what will be instead of what is currently happening. The Tesla Bot Optimus, the Tesla Roadster, a new mass-market model, and the ever-growing Tesla energy division. All of these things should be factored into the long-term value of the stock. It also stands to gain billions of dollars from opening up its supercharger network to other automakers. Every time investors have bought Tesla stock in downturns like this they have been rewarded. I still think this is the case and if the stock continues to fall to the $150s, I’ll be doing what I can to build my position.


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

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2024-03-09 11:27

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About the Author
Mike Sakuraba graduated with double major of English and Economics. Part time writer, part time investor, full time dad. Mike loves writing about technology, sports, and investing.

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Target Price$127.8
# of Analysts44
Last updated2022-12-09

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