The inflation panic took the wind out of Wall Street's sails, especially where it crosses Silicon Valley in a proverbial sense. The stocks of tech titans Amazon.com (NASDAQ: AMZN) and (NASDAQ: GOOG) (NASDAQ: GOOGL) took a beating as investors backed away from growth-oriented ideas.

Amazon's shares fell as much as 57% from its pre-panic record price. The Google parent's price drop stopped at 46%. Only now, more than two years later, are they sniffing at fresh all-time highs again.

I don't think this is the last hurrah from two tired comeback stories. Instead, I see Alphabet and Amazon as the two best buys in the "Magnificent Seven" group right now, with tremendous returns on the long-term horizon. You should consider grabbing some of these top-quality stocks while they're still relatively affordable.

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Source Fool.com