2 Under the Radar Stocks to Buy Before Others
Well, this simple plan is often complicated by things like human emotions, greed, and market corrections.
You should still try to find laggard stocks that haven’t been performing as they have on a historical basis. One good example is companies that are impacted negatively by high-interest rates. Once those come down, and they should soon, these companies will likely see a boost to their top and bottom lines. Here are 2 such stocks that continue to trade under the radar.
Starbucks (NASDAQ: SBUX)
It hasn’t been a great year for Starbucks shareholders. Over the past year, shares have returned a loss of nearly 8.0% compared to gains of more than 30% from the S&P 500. A quick glance at the chart shows that the stock has barely moved since the correction in the fall of 2023. It has also been all downhill since hitting an all-time high price of more than $125 in July 2021.
But Starbucks the stock isn’t necessarily indicative of Starbucks the business. The company is going through a transition period under new CEO Laxman Narasimhan, the successor to long-time CEO Howard Schultz. Usually, the market makes a new CEO prove to them that they belong in the position. The stock is sitting at long-time weekly support at around $90 and a bounce looks imminent. Starbucks will be reporting earnings in April and will want to show shareholders how the company is becoming leaner and more efficient. The long-term plan is for global locations to be more than 55,000. This includes an aggressive expansion into Asia and India. This stock is long overdue for a pop so get in before everyone else does!
AMD (NASDAQ: AMD)
You might be thinking that AMD has already seen a push for being a chip stock. If you’ve been tracking the sector, AMD has easily been one of the worst-performing stocks. After a recent rally to $220, the stock has given up all of those gains and then some. The stock has come back down to Earth and it feels like a lot of retail traders have given up on it and are chasing NVIDIA (NASDAQ: NVDA).
AMD has some powerful GPUs coming that many in the industry believe could mirror that of NVIDIA. There is also a nice technical setup because of its recent retracement. AMD sits at a key support level that has been bounced off of several times already. AMD has always been a stock that likes to re-test its averages and moves more like a staircase than a straight rocket upwards.
The stock is basing now and is ready for a pop if it ever sees the right catalyst. Perhaps something like an NVIDIA stock split announcement or from the US government about the potential for more government projects.
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