2 Beaten-Down Growth Stocks That Could Double
The stock market sell-off this year has created opportunities for investors to buy fast-growing companies at cheap valuations, with Micron Technology (NASDAQ: MU) and Twilio (NYSE: TWLO) being two such stocks that could be bought at mouthwatering multiples right now.
Shares of Micron Technology are down 23% in 2022, while Twilio stock has lost half its value so far this year. However, the common link between the two companies is that the robust demand for their offerings has been helping them post terrific growth, and they are unlikely to run out of steam any time soon.
The growing need for storage across the globe should lead to stronger demand for Micron's memory chips in the future, while Twilio is facilitating a shift from physical call centers to cloud-based contact centers with its application programming interfaces. It wouldn't be surprising to see these catalysts help these two tech stocks double in the future. Let's see how that may happen.
Source Fool.com
