So far, 2022 is a forgettable year for the stock market. Rising interest rates have knocked the wind out of equities, with investors fearing that a high interest rate environment meant to control surging inflation will increase borrowing costs and negatively impact earnings.

The Federal Reserve's hawkish stance, as well as concerns regarding a looming recession, explain why the S&P 500 has shed nearly 18.2% of its value in 2022. However, the stock market decline means that investors can buy some solid growth stocks on the cheap right now. Twilio (NYSE: TWLO) and Nutanix (NASDAQ: NTNX) are two such names that long-term investors may want to buy given their terrific prospects, rapid growth, and cheap valuations.

Let's see why these fast-growing cloud stocks could set investors' portfolios up for success over the next decade.

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Source Fool.com