3 Top Stocks That Just Went on Sale

The stock market has been pulled down over the past few months amid fears of higher interest rates and a potential economic slowdown. While the S&P 500 is down only 7.7% from its all-time highs, the tech-heavy Nasdaq has had a much bigger decline of 15.3%.

Yet the most compelling long-term opportunities should still come from tech-enabled innovation, and marketwide pullbacks are usually a great opportunities to pick up shares for the long term. Three top tech leaders are Microsoft (NASDAQ: MSFT) in enterprise software, Applied Materials (NASDAQ: AMAT) in semiconductors, and Sea Limited (NYSE: SE) in emerging market e-commerce, and each stock looks like a bargain today.

Even the biggest "safe haven" in technology, Microsoft, has pulled back 17.8% from all-time highs amid the recent downturn. Yes, the 10-year Treasury Bond has increased to over 2.8% this year, up sharply from 1.6% to start the year as the Federal Reserve is tightening financial conditions. That higher rate should put some pressure on stock valuations, depending on what investors were using as their baseline discount rates and equity risk premiums.

Source Fool.com