![]() Meta Platforms ( FB) stock was pummeled after it reported fourth quarter earnings. Growth stocks, however, have dropped well into the undervalued territory. We continue to think value stocks remain attractive and will have good economic tailwinds behind them through the year. The core category was the most overvalued coming into the year, and even following this pullback remains overvalued. 25 and the Morningstar US Core Index has dropped 8.51%. However, the Morningstar US Value Index has fallen 15.44% year to date through Feb. Through the market turmoil the value category has remained largely unchanged. 25, the composite of the price to fair value of the stocks under our equity research coverage has dropped to 0.95-the bottom of the range that we consider fair value. We had cautioned investors that the market was overvalued coming into the year, and equities had been on a downward trend through mid-February, even before the Russian invasion.Īs of Feb. Stocks on the undervalued list include some of the market’s biggest names, such as ( AMZN), Uber ( UBER) and Alphabet ( GOOGL), along with cybersecurity company Okta ( OKTA), Palantir ( PLTR)-which provides intelligence software to governments-and Boston Beer ( SAM).
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