Got $1,000? 3 Stocks to Buy Now While They're On Sale

No one likes to see the stock market decline, but there is one positive point in such situations: Quality stocks go on sale. You can get in on fantastic long-term players at very reasonable – and even cheap – valuations. And if you hold on to these stocks, you could see the value of your investment advance significantly.

Three exciting companies involved in the consumer goods and technology space offer you this opportunity right now. If you have $1,000 (or even less), they make smart buys right now, while they’re on sale.

Image source: Getty Images.

1. Amazon

Amazon (AMZN 0.87%) is a leader in e-commerce, and its sales of both groceries and other essentials make it a company that could generate growth in any market environment. Its Prime program is another plus, as customers are likely to spend as much as they can on Amazon to amortize the cost of membership.

Meanwhile, the company’s cloud unit and major earnings driver, Amazon Web Services (AWS), is benefiting from the artificial intelligence (AI) boom. AWS recently reached a $142 billion annual revenue run rate as customers rush to get in on AI products and services.

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NASDAQ: AMZN

Amazon

Today’s Change

(-0.87%) $-1.83

Current Price

$207.70

Key Data Points

Market Cap

$2.2T

Day’s Range

$206.23 - $210.56

52wk Range

$161.38 - $258.60

Volume

1.6M

Avg Vol

49M

Gross Margin

50.29%

So an investment in Amazon offers you the security of a well-established company along with AI growth potential. And at 27x forward earnings estimates, it looks pretty cheap.

2. Chewy

**Chewy **(CHWY +3.37%) may be the best friend of your pets – that’s because this e-commerce company offers them food, toys, and a lot more. It’s also turned out to be the best friend of pet parents, as we can see by their loyalty to the company: More than 80% of sales are made up by Autoship, a service that automatically reorders and ships products to customers. So customers keep coming back to Chewy.

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NYSE: CHWY

Chewy

Today’s Change

(3.37%) $0.83

Current Price

$25.43

Key Data Points

Market Cap

$11B

Day’s Range

$24.91 - $25.73

52wk Range

$23.06 - $48.62

Volume

153K

Avg Vol

7.9M

Gross Margin

28.58%

The company achieved profitability in recent years and continues to grow its revenue. And Chewy has been progressively expanding – for example, opening veterinary clinics. This offers an additional revenue source.

Today, Chewy’s price is right, as it trades at 16x forward earnings estimates.

3. Apple

**Apple **(AAPL 2.15%) is the smartphone leader, with the iPhone topping worldwide smartphone sales last year. This product and other well-known Apple devices, such as the iPad and Mac, have helped the company grow its earnings over time. And Apple’s focus on innovation has kept fans loyal – and waiting eagerly for the next update.

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NASDAQ: AAPL

Apple

Today’s Change

(-2.15%) $-5.49

Current Price

$250.27

Key Data Points

Market Cap

$3.7T

Day’s Range

$249.87 - $256.32

52wk Range

$169.21 - $288.62

Volume

1.6M

Avg Vol

48M

Gross Margin

47.33%

Dividend Yield

0.42%

This has created a solid moat, or competitive advantage, making Apple a company you can count on for stability and growth. On top of this, the company’s fleet of active devices is bringing in services revenue – and that has reached records in recent times.

All of this makes Apple, trading for 30x forward earnings estimates, a top tech stock to buy while it’s on sale.