7 Blue-Chip Stocks to Buy at a 52-Week Low in March – InvestorPlace

If you’re looking for great stocks to buy cheaply, look no further. Blue chip stocks continue to lag the performance of growth stocks. Currently, we are updating the all-time high, Dow Jones Industrial Averageconsists of 30 excellent company namesis up just 4% this year, compared to an 11% increase for technology-laden companies. Nasdaq index. While some blue-chip stocks are performing well, many well-known companies have seen their share prices fall and lag far behind the overall market. Although the decline is significant, in most cases it should be viewed as a buying opportunity.

Some of the stocks that have fallen this year have suffered from short-term issues beyond the company’s control. Eventually, the situation should resolve itself and the stock price should rise. It would be a good idea to include these blue-chip stocks in your portfolio. Securities can become defensive When the market is down or the economy is in a downturn. Additionally, solid blue-chip stocks are more likely to pay dividends than fast-growing tech stocks or startups. It should be every investor’s goal to buy when prices are down and ride when prices are up.

Here are seven blue chip stocks to buy at or near March’s 52-week lows.

Best Stock to Buy: McDonald’s (MCD)

Golden Arches is a blue chip stock, as are stocks. The burger and restaurant chain has had decades of reliable performance, trades at a reasonable 24 times forward earnings estimates, and pays a high-yielding quarterly dividend of 2.40%. mcdonalds (New York Stock Exchange:M.C.D.) has increased its dividend every year since 1976, but MCD stock has struggled in recent years. Year-to-date (YTD), Stock price is down 6%. It has only increased by 45% in 5 years.

MCD stock is in the midst of an aggressive growth strategy with plans to open 9,000 new restaurants and add 100 million members to its loyalty rewards program by 2027. The softness is strange.McDonald’s also continues to diversify its menu, recently announcing that it will be selling Crispy cream (NASDAQ:donut) donuts 13,500+ restaurants All over America.

However, while the news was spreading, Partnership with Krispy Kreme While it drove DNUT stock up 30% in one day, the needle on MCD stock barely moved. It’s time to buy some dip.

Apple (AAPL)

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Probably the best deal on the market at the moment is apple (NASDAQ:AAPL). The consumer electronics giant’s stock price has fallen nearly 10% since the beginning of the year, not far from its 52-week low. Sluggish sales with china Rust prevention lawsuit AAPL stock has fallen since the beginning of the year due to a lawsuit filed by the U.S. Department of Justice. Smart investors will view declines as buying opportunities.

Despite the headwinds it faces, Apple continues to keep its business on track. In recent weeks, the company announced plans to start selling its new Vision Pro augmented reality headset in China. Apple is also reportedly in talks to: License Gemini Artificial Intelligence (A.I.) Google parent company technology alphabet (NASDAQ:googleNasdaq:Google) and integrate into future iPhones.

The addition of AI could be the biggest upgrade to the iPhone in years, giving smartphones a whole new competitive advantage.

Best Stock to Buy: Lululemon Athletica (LULU)

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stock has opened up a huge bullish buying opportunity. lululemon athletica (NASDAQ:Lulu) Appears after printing the company’s latest financial results. LULU stock price tumbles as the retailer issues a weak future outlook. North American sales are slowing. The company’s stock price has fallen 23% since the beginning of the year after the poor performance. But the popular sports apparel maker’s stock price isn’t likely to fall for long.

While it’s true that Lululemon’s North American sales are slowing, the company is also hurting sales with its international expansion. For the final quarter of 2023, the company’s Overseas sales increased by 54% Year-over-year, sales in China, a key market, increased by 78%. Lululemon’s total sales, including North America, increased 16% year over year. Strong international and overall growth is not reflected in LULU’s stock price.

Lululemon also continues to expand beyond its traditional focus on female consumers, branching out into menswear, and in February New line of men’s sneakers. Sneakers and casual shoes represent a huge new market for Lululemon Athletica, both for men and women.

Adobe (ADBE)

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can software company adobe (NASDAQ:adobe) Can it survive the existential threat posed by AI? That’s the question facing the company, as its stock price is down 13% so far in 2024. ADBE stock began to decline after going private. OpenAI We have released something new text to video generator It competes with its own creative software products, including Photoshop and Illustrator. The situation hasn’t improved with Adobe’s latest earnings report.

Adobe offered Disappointing forward guidance Wall Street analysts. The company also came under fire for calling off a planned $20 billion acquisition of a design software startup. figma And he had to pay a $1 billion termination fee. The guidance and Figma’s fees masked the fact that Adobe reported strong financial results that beat analyst expectations. The company also announced a $25 billion stock repurchase program.

Adobe has no threat from OpenAI or other competitors lying around. Over the past year, the company has been adding his AI capabilities to many of its software products. image editing tools It’s called Firefly.

Best stock to buy: Hershey (HSY)

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As we head into the Easter long weekend, this would seem to be the perfect time to become a shareholder. Hershey Co. (New York Stock Exchange:HSY). in the end, Americans spent $3.3 billion Easter chocolate and candies in 2023 increased by 8.2% compared to the previous year. But sadly, there isn’t much reason to celebrate the arrival of the Easter Bunny this year. Cocoa prices are not trading at all-time highs. More than $10,000 per ton For the first time in history.

Cocoa’s record prices are a big problem for Hershey, which spends more than $1 billion a year on chocolate’s active ingredients. Cocoa prices rose by 40% This year due to global supply constraints. The problem lies in Ivory Coast, Africa, the world’s largest cocoa producing country. The region has been hit by both flooding and higher-than-normal temperatures, leading to drought conditions and reduced crop yields.

Floods and excessive heat have also caused an outbreak of cocoa bud swelling virus, which damages cocoa crops. The world’s cocoa supply is currently in short supply for the third year in a row. The worsening problem is HSY stock falls 24% Over the past 12 months, it’s not that far from its 52-week low. But over the long term, Hershey remains a solid investment. We hope that cocoa prices will drop before Halloween.

Walgreens Boots Alliance (WBA)

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We’re only a quarter of the way through this year, but 2024 is already shaping up to be a tough year for pharmacy chains. walgreens boots alliance (NASDAQ:W.B.A.). In early January, the company Reduce quarterly dividend Payouts to shareholders were nearly 50%, and WBA stock plummeted. Then, the company was kicked out of The blue-chip Dow Jones Industrial Average will be replaced by Amazon (NASDAQ:AMZN), further hurting the stock price.

As a result, WBA stock fell 23% year-on-year. This resulted in a 12-month decline of nearly 40%. While things look bleak for Walgreens, glimmers of light are beginning to shine on the company and its stock. The company is new CEO Tim Wentworth took charge in October last year. He has already begun a turnaround plan that includes strengthening the company’s balance sheet and cutting its dividend to preserve cash.

Plus, Walgreens’ most recent income Both sales and profits exceeded Wall Street expectations. It was a reversal of strong performance for Walgreens, which had missed profit estimates for the past two quarters. It will take time, but there is a possibility that WBA stock will recover.

Tesla (TSLA)

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How low can you go? tesla (NASDAQ:TSLA) Will the stock go? It’s much lower, according to analysts covering the company. TSLA stock is currently down nearly 30% year-over-year. worst performer inside S&P500 index. However, it seems like every day a new analyst is downgrading the stock.More recently, analysts such as bernstein He lowered his price target for Tesla stock from $150 to $120 and reiterated his rating equivalent to “sell.”

Bernstein et al. are concerned that: Sluggish global demand Tesla electric cars, especially in China. The company also sees sluggish demand for Tesla’s Model 3 electric vehicle in the United States. This overlap hurt investor sentiment related to TSLA stock, pushing the stock price lower. With the stock nearing 52-week lows and its market cap falling to $500 billion, it’s natural to wonder what Tesla will do next.

Despite the tough conditions, there are good reasons for investors to buy TSLA stock. The company is taking the following steps to right the ship: price increase and offer free trial Learn more about full self-driving capabilities. Also, although stock prices have fallen sharply in the past, they will always rise again. There is a high possibility that this time will be no different.

On the date of publication, Joel Baglole held long positions in AAPL and GOOGL. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com Publishing Guidelines.