The massive market sell-off is making already cheap stocks even more affordable…
Over the last several months, the Russia-Ukraine war, Chinese lockdowns, and inflation have crushed equities across the board.
This spooked Wall Street money managers, driving many institutional investors to dump shares of companies in favor of more defensive investments.
Because of this, the Nasdaq Composite, S&P 500, and Dow Jones have all tumbled between 17% to 30% over the course of the year.
But it has also created an opportunity. In fact, it has made several already cheap stocks – with strong fundamentals and growth prospects – even more affordable.
This includes companies like Nokia (NOK). While the company saw past struggles, particularly with its failure in the smartphone business, it turned itself around as a key wireless infrastructure firm.
And in recent years, Nokia has primarily focused on the fifth generation of wireless technology (5G). This has enabled it to work with major telecommunication companies like T-Mobile.
However, it has also signed deals with Lenovo and Alphabet for technology licenses and cloud-based 5G solutions.
But looking even further ahead, the company was chosen to lead the European Union’s 6G research initiative to develop a roadmap for the sixth generation of wireless technology through partnerships with firms like Ericsson, Intel, and Siemens.
So, while its share value was beaten down by past woes, its continued shift into the mobile infrastructure market should bode well for its future financials. And the fact that it's trading at a major discount is a bonus on top.
“The next Apple”at less than $5?
Sponsored
One stock is causing quite a stir on Wall Street.
It has so much potential, Forbes asks whether it could be the next Apple or Microsoft.
Because of its business model, I personally feel it's more likely the next Amazon.
But it really doesn't matter whether it's the next Apple, Microsoft, or Amazon.
What matters is this:
- The company uses the most advanced technology on the planet.
- Its stock is trading for less than $5 (for now…), and
- Some of the world's biggest investors, including Bill Gates and Cathie Wood, are investing millions into it.
An international conference recently took place in Amsterdam that focused on the breakthrough tech behind this stock, which could explode any day now.
