Stocks in Correction Territory Present Buying Opportunities for Cloudflare, Amazon, and More
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The S&P 500 recently entered correction territory, defined as a 10% drop from a peak, signaling a potential buying opportunity.
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Cloudflare provides fast, secure cloud services and is gaining traction in areas like AI, with revenue growth around 30%. At 16x sales, it's attractively priced.
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Amazon is the e-commerce leader with a strong brand and logistics network. Its retail, advertising, and cloud businesses all have room to expand.
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Amazon posted strong Q3 results, with revenue up 13% driven by retail and ads. It has a presence in three high-growth markets.
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At 2.5x sales, Amazon looks undervalued compared to its historical average of 3.1x. The author sees it as a compelling growth stock to buy now.