2 Top Growth Stocks to Buy During a Once-In-a-Decade Opportunity
The Nasdaq Composite has sold off sharply this year, tumbling into a bear market fueled by economic uncertainty. During that downturn, many excellent businesses saw their valuations crumble. For instance, shares of Nvidia (NASDAQ: NVDA) and MercadoLibre (NASDAQ: MELI) plunged 53% and 54%, respectively, marking their sharpest declines at any point in the past decade.
Losses like that can be scary, but investors need to step back and look at the big picture. Both businesses are still brimming with potential, and the ongoing sell-off represents a once-in-a-decade buying opportunity.
Chipmaker Nvidia reported disappointing results in the third quarter of fiscal 2023 (ended Oct. 30). Revenue dropped 17% to $5.9 billion, and earnings plunged 72% to $0.27 per diluted share. The impetus behind that dismal performance can be summed up as a challenging economic environment. High inflation blunted consumer spending on gaming chips, and the recent wave of COVID-19 lockdowns in China led to softness in demand for data center chips.
Source Fool.com
