3 Growth Stocks That Are Screaming Buys in January
Some of the top growth stocks that set the market on fire in 2021 have lost their spark in the new year, thanks to the strong probability of interest rate hikes by the Federal Reserve and rising inflation.
Nvidia (NASDAQ: NVDA) stock, for instance, has lost nearly 12% of its value so far in 2022, while share prices of Ambarella (NASDAQ: AMBA) are down over 28%. Both these tech stocks had set the market on fire last year, recording roughly 120% gains thanks to the rapid growth in their top and bottom lines. However, their rich valuations have come back to bite them in 2022.
Intel (NASDAQ: INTC), on the other hand, has been swimming against the trend as shares of the chip giant are gaining ground. This isn't surprising, as Intel's cheap valuation and turnaround prospects have made it an enticing bet for investors.
Source Fool.com
