The Best 5 Stocks to Buy on the Next Dip

These stocks are strong enough to bounce back from any dip in the markets…

This story was originally published here.

As markets inch closer to past highs, you may feel like you “missed the boat” with stocks to buy. As uncertainty continues, however, you could still enter high-quality stocks at more attractive entry points. How so? By “buying the dip.”

Sure, the phrase “buy the dip” may be overused to describe today’s market, yet there’s a difference between buying a strong stock on a pullback, and buying a stock as it trends downward. For example, even as the novel coronavirus enters the rear-view mirror, many hard-hit names remain risky. I’m talking about industries such as airlines, casinos, and other sectors.

With U.S. households tightening their belts in case of continued tough times, a V-shaped recovery looks less likely. In short, Main Street reality could soon bring Wall Street enthusiasm to a screeching halt.

On the other hand, there’s plenty more resistant names that could continue to perform well, no matter what tomorrow brings. I’m talking about defensive stocks, as well as large-cap tech names largely immune from today’s challenges.

Taking a look at major names, these five stand out as stocks to buy on the dip.

Granted, FUD (fear, uncertainty, and doubt) remains, even as markets trend higher. But the relative strengths of these five names could make them buys on a pullback. Let’s dive in and find out why.

Alphabet (GOOG, GOOGL)

The parent company of search giant Google, Alphabet has performed well like its FAANG peers. Yet, shares continue to trade just below their pre-pandemic highs. There’s plenty of reason why shares have yet to retrace the high water mark.

Firstly, the pandemic meant a short-term collapse in the digital ad market. Yet, the worst may already be over for Alphabet, as well as its chief rival Facebook (NASDAQ:FB). Also, as InvestorPlace’s Mark Hake wrote May 28, analysts remain bullish the company’s projected double-digit earnings growth can continue into the near future.

And that’s no surprise. As digital advertising continues to win at the expense of legacy advertising mediums, such as television, companies like this one have a long runway ahead of them.

But, that’s not all! The company’s investments in artificial intelligence offer investors another catalysts for shares to move higher long-term.

Coupled with the company’s strong cash flow and economic moat, GOOG stock offers you the best of both worlds: stability, along with the potential for above-average growth.

With this in mind, Alphabet is one of the best stocks to buy on the dip.

Editor's Note: Click here for the full story.

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