3 Buy the Dip Stocks for a Q2 Rebound By StockNews

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© Reuters. 3 Buy the Dip Stocks for a Q2 Rebound

Because long-term economic prospects look promising, buying the current dip in fundamentally sound stocks could be a smart move. Qualcomm (NASDAQ:), Vertex Pharmaceuticals (NASDAQ:), and Alexion Pharmaceuticals (NASDAQ:) are stocks that saw a considerable decline in the first quarter, but we think are well positioned to rebound this quarter. So, betting them now could be rewarding. Read on.The stock market is now in one of those phases in which the indices are swinging between minor gains and losses. However, the speed of the COVID-19 inoculation drive and the Federal Reserve’s commitment to economic growth indicate a long-term positive outlook. Rising Treasury yields and an improving labor market add to this optimism.

However, many stocks, particularly those that advanced due to the pandemic, have witnessed a sell-off since the beginning of the year and are now attractively priced given their significant growth potential in a recovering economy.

Qualcomm Incorporated (QCOM), Vertex Pharmaceuticals Incorporated (VRTX), and Alexion Pharmaceuticals, Inc. (ALXN) are examples. They suffered price declines last quarter, but they possess solid rebound prospects this quarter. So, we think it could be wise to bet on these stocks now.

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