The stock market's forgettable performance in 2022, caused by surging inflation and the Federal Reserve raising interest rates in a bid to control it, did have at least one positive effect. It created a situation where investors can now buy stock in some great companies at attractive valuations.

Contract electronics manufacturer Jabil (NYSE: JBL) and optical networking components provider Ciena (NYSE: CIEN) are two such stocks that look like attractive bets following significant price declines so far this year. Jabil, which is known to manufacture casings for Apple's smartphones and tablets, is trading down 20% in 2022. Ciena stock has witnessed a sharper drop of 47% so far.

The drop in the share prices of these companies gives savvy investors an opportunity to buy them at attractive valuations, which they may not want to miss. Let's take a closer look at these two beaten-down stocks that have potentially crush the market.

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Source Fool.com