The past year has been miserable for many investors. Economic uncertainty has driven the S&P 500 into a bear market, and many growth stocks have lost more than half of their value. For instance, Airbnb (NASDAQ: ABNB) and Zscaler (NASDAQ: ZS) have seen their share prices plunge 56% and 67%, respectively, leaving both stocks near a 52-week low.

Of course, no one knows when the downturn will end, but more than half of economists surveyed by The Wall Street Journal expect the Federal Reserve to begin lowering interest rates by the first quarter of 2024. At that point, economic uncertainty may dissipate, and the stock market could rebound.

However, even if that doesn't happen, investors can still find comfort in this fact: Every past bear market has eventually ended in a new bull market. That means the next bull market is almost certainly on its way. With that in mind, Airbnb and Zscaler are trading at bargain prices compared to their historical valuations, and that creates a perfect buying opportunity for patient investors.

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Source Fool.com