2 Growth Stocks Down 69% and 77% to Buy Right Now
Wins have been hard to come by for technology investors in 2022. A combination of high inflation, rising interest rates, additional macroeconomic headwinds, and company-specific pressures have combined to crush valuations for growth-dependent companies in the sector, but there are some silver linings to the otherwise challenging backdrop.
This year's massive valuation pullback for growth stocks has pushed prices for some very promising tech companies down to attractive levels. Read on to see why a duo of Motley Fool contributors has identified these tech leaders as two of the best beaten-down stocks to buy right now.
Keith Noonan: Cloudflare (NYSE: NET) provides content-delivery-network (CDN) technologies, protection against distributed-denial-of-service (DDoS) attacks, and other cloud-based web services -- and it's arguably one of the most important companies of the Internet Age. Cloudflare's DDoS-protection technologies prevent bad actors from flooding websites and applications with waves of service requests that could take them offline. Meanwhile, its CDN software can speed up the rate at which information is transferred and made accessible around the world. Essentially, the company's cloud-based software offerings make it possible for much of the modern internet to function efficiently, and demand for these services has been translating to strong sales growth.
Source Fool.com
