For about 28 hours, it appeared as though Wall Street was in the midst of an epic meltdown last week. However, the bulls saved the market from a massive setback, swooping in on Friday afternoon and cutting market losses to only a couple hundred points.

There is some question as to whether the market’s decline across the past couple of trading days results from uneasy investors taking profits before a long holiday weekend or the beginning of a bear market. It is quite possible it was merely profit-taking following the summer bull run.

Let’s take a look at four stocks investors should consider scooping up after a pullback: Apple (AAPL - Get Rating), NVIDIA (NVDA - Get Rating), Zoom (ZM - Get Rating), and Qorvo (QRVO - Get Rating).

Apple (AAPL - Get Rating)

Fresh off a 7-for-1 stock split, Apple investors pulled some of their profits off the table to wind down the week. However, the selloff provides a fantastic opportunity for those interested in owning AAPL to acquire shares. AAPL is now priced at the same level as it was in mid-August.

If you are on the fence about whether AAPL is a solid investment, consider our exclusive POWR Ratings system. AAPL has a grade of A in each component of the POWR Ratings, except for Buy & Hold Grade, which is a B. AAPL is ranked third out of 28 stocks in the Technology – Hardware segment.

Analysts love AAPL, as 25 rate it as a Buy, seven rate it as a Hold, and two rate it as a sell. 

NVIDIA (NVDA - Get Rating)

NVDA finally pulled back after a dramatic bull run for the ages. As the top graphics processor in the world, NVDA is worth a look by every investor. The question is whether the stock’s current price is a good entry point. NVDA is now priced at the same level as it was in mid-August.

The POWR Ratings reveal NVDA has A grades in each POWR component, but for its Buy & Hold Grade, which is a B. NVDA is ranked 7th of 86 stocks in the Semiconductor & Wireless Chip category.

Analysts are bullish on NVDA, setting a price target of $546, which is 10% higher than its current price. NVDA may bounce back in the weeks ahead as those waiting on the sidelines jump in. 

Zoom (ZM - Get Rating)

Though ZM provides a free service, the company is making plenty of money through its premium offerings. ZM has quickly supplanted Skype and other videoconferencing services as the top means of web-based interaction during the pandemic. As long as you have a web-connected device, you can videoconference with someone on ZM. In addition to videoconferencing, ZM also provides file sharing and collaborative meeting services.

The POWR Ratings show ZM has A grades in the Peer Grade and Trade Grade POWR components. ZM is the top-ranked stock out of more than 50 publicly traded companies in the Technology – Services industry. Analysts view ZM as fairly priced around $400.

Though ZM had some significant audio problems when hit first hit the scene, those issues have been ironed out. ZM is one of the best videoconferencing services on the market. The only question is whether it will fend off competition in the long run, or if its brief spike in popularity was primarily the result of the coronavirus pandemic.

Qorvo (QRVO - Get Rating)

QRVO has dipped down to its late-July trading level. The company’s technologies and RF solutions are essential for infrastructure, mobile, and defense industries, yet investors have quickly soured on this stock. The POWR Ratings show QRVO has A grades in its Industry Rank and Trade Grade components and B grades in its Peer Grade and Buy & Hold Grade components. Furthermore, QRVO is ranked in the top 20 of 86 stocks in the Semiconductor & Wireless Chip industry.

TipRanks shows analysts have set a price target of $136.81 for QRVO, which is 15% high than its current price. QRVO has a forward P/E ratio of a mere 18, meaning it is currently priced reasonably.

The arrival of 5G networks will heighten the demand for QRVO offerings all the more, possibly sending the stock to new heights over the next couple of quarters. 

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AAPL shares were trading at $115.17 per share on Tuesday afternoon, down $5.79 (-4.79%). Year-to-date, AAPL has gained 57.75%, versus a 5.37% rise in the benchmark S&P 500 index during the same period.

About the Author: Patrick Ryan

Patrick Ryan has more than a dozen years of investing experience with a focus on information technology, consumer and entertainment sectors. In addition to working for StockNews, Patrick has also written for Wealth Authority and Fallon Wealth Management. More...

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