5 Top Stocks for October
As they enter the final quarter of calendar year 2022, many investors are probably wondering when the sell-off will end. This year has tested the patience of even the most experienced investors as the tech-heavy Nasdaq Composite is down over 30% from its all-time high while the S&P 500 remains down over 20%.
The silver lining of the market sell-off is that it gives investors the chance to form starting positions in companies at far lower valuations than in years past. Investors who like to dollar-cost average a portion of their income into their favorite stocks will be able to accumulate more shares without having to increase their savings rate -- which can be particularly beneficial for folks who are still early in their investment journeys. Down between 39% and 88% from their all-time highs, Roku (NASDAQ: ROKU), NovoCure (NASDAQ: NVCR), and Paycom Software (NYSE: PAYC) stand out as three growth stocks worth buying in October and holding for decades.
However, there are also plenty of attractive buys for risk-averse investors focused on capital preservation, supplementing income in retirement, or generating passive income. United Parcel Service (NYSE: UPS) and ExxonMobil (NYSE: XOM) have competitive advantages to support dividend raises over time. Here's what makes each of these top stocks a great buy now.
Source Fool.com
