The S 500 index has climbed in the double digits since the beginning of the year. But that doesn't mean the opportunity to snap up cheap stocks is over. You can grab great bargains in any stock market environment -- even when indexes are rallying. How can you find these stock market jewels? By looking for quality companies that have struggled in recent times or those that simply have fallen out of favor.

Two perfect examples right now are entertainment giant Disney (NYSE: DIS) and toymaker (NASDAQ: MAT). Disney's declinedfar this year even as its new recovery plan is bearing fruit. Mattel has climbed but still trades at a reasonable price -- and has plenty of room to run over the long term. Both of these players could not only spread joy among customers, but they also could make investors smile over time. Let's take a closer look at these two cheap stocks to buy without any hesitation.

Disney has experienced some tough times in recent years. The pandemic temporarily shut down its theme parks and drove the company to an annual loss. Then, aggressive investment in its streaming services and higher inflation weighed on costs.

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Source Fool.com