The technology-heavy Nasdaq Composite index currently finds itself in correction territory. A stock market correction occurs when the market falls 10% or more from its all-time highs.
Should investors buy the dip? There is a chance the recent pullback will turn into something worse, such as a prolonged bear market. However, most 10% corrections resolve themselves relatively quickly, making them great times to pick up high-quality companies for the long haul.
That means for those looking to add to their long-term portfolios, high-quality stocks in the “Magnificent Seven” group, which has pulled back along with the market, might be great pickups today. Of these seven all-star companies, one ultra-safe name looks like the best of the bunch at this opportune moment.
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Be greedy when others are fearful
Over the past 10 years, the Nasdaq has corrected six times, good for about…
