3 Growth Stocks Down 53% to 83% to Buy Now, According to Wall Street
The bears have a firm grip on the technology sector in 2022, and that grip tightened this week when the U.S. Federal Reserve adopted an interest rate policy that was more aggressive than expected. The Nasdaq-100 index, which is the main barometer for the tech industry's performance, has declined by more than 29% in 2022 so far.
But in some cases, that presents investors with an opportunity to buy a stake in innovative companies at a discount. Steep declines in value haven't stopped Wall Street from recommending Snowflake (NYSE: SNOW), Semrush Holdings (NYSE: SEMR), or Twilio (NYSE: TWLO), so here's why now might be a great chance to take long-term positions in each of them.
Anthony Di Pizio (Snowflake): Snowflake is an innovative cloud company that has attracted partnerships with trillion-dollar tech giants like Amazon, Microsoft, and Google parent company Alphabet. But it has also won the endorsement of investment company Berkshire Hathaway, which is headed by legendary long-term investor Warren Buffett. The firm's stake in Snowflake is worth about $1.1 billion as of this writing.
Source Fool.com
