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04.02.2023 14:30:00

2 Stocks Down More Than 6% to Buy Right Now

The three major stock indexes all rose in January as many stocks soared. In fact, some of last year's biggest-losing stocks rebounded in the first month of 2023. But not every stock has taken part in this rally. In fact, two stocks that outperformed the S&P 500 last year are now down more than 6% since the start of the year: Johnson & Johnson (NYSE: JNJ) and AbbVie (NYSE: ABBV)..But this isn't a sign that you should flee these healthcare giants. Motley Fool contributors Adria Cimino and Keith Speights talk about why these two stocks actually make great buys right now.Adria Cimino (Johnson & Johnson): J&J may have disappointed investors when it reported fourth-quarter earnings on Jan. 24. The company's revenue fell due to lower coronavirus vaccine sales and foreign currency headwinds, but these two problems are temporary. In upcoming quarters, J&J's revenue won't be compared to a period with high vaccine revenue. And currencies fluctuate, meaning they eventually may move in J&J's favor.Continue reading
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