Who doesn't love a good bargain? In the world of stock market investing, it's a chance to get in at a low price -- and then benefit from gains as years go by. When the market retreats, opportunities multiply. Last month, the S&P 500 index fell 4.9% -- and many solid stocks slipped.

But you don't have to wait for a market pullback to find a deal. And you don't have to look to little known companies. Right now, I can think of two giants in their industries that are unbelievably cheap considering growth prospects. Let's take a closer look at these players that you'll want to buy now and hold for the long term.

Two people lean back on cushions in a shady outdoor area and smile as they look at a tablet.

Image source: Getty Images.

1. Pfizer

When you take a look at Pfizer's (PFE 0.88%) revenue, blockbusters, and product pipeline, you wouldn't expect the stock to trade at a bargain. Pfizer is the leading seller of coronavirus vaccines. The company and its partner BioNTech expect to generate more than $33 billion from them this year. Pfizer also is working on a coronavirus pill treatment candidate and expects to report phase 2/3 data this quarter.

But Pfizer isn't only about the COVID-19 market. The company has seven other blockbuster drugs including blood thinner Eliquis. Last year, Eliquis brought in $4.9 billion in worldwide alliance revenue and direct sales. And recently, a court ruling affirmed key patents. That means competitors can't enter the market until at least 2028.

Of course, the eventual loss of Eliquis patents and those of other products is bad news down the road. But here's the good news: Pfizer has many candidates in development that may compensate for some future losses. The company has 23 candidates in phase 3 clinical trials right now.

Now, let's talk share price. Pfizer is trading at only about 10 times forward earnings estimates. That's cheaper than rival coronavirus vaccine maker Johnson & Johnson and rival coronavirus pill developer Merck & Co.

PFE PE Ratio (Forward) Chart

PFE PE Ratio (Forward) data by YCharts

You also can count on Pfizer for dividends. The company has steadily increased its dividend over the past decade. And while it does pay a smaller dividend than J&J and Merck, the dividend yield has steadily surpassed those of its rivals.

PFE Dividend Chart

PFE Dividend data by YCharts

So if you buy Pfizer, you're getting a lot of growth now -- and potential in the future -- for a very reasonable price.

2. Starbucks

Starbucks (SBUX 6.85%) suffered during the worst of the coronavirus. But the coffee shop giant quickly turned things around. That's already reflected in quarterly profit and revenue.

SBUX Revenue (Quarterly) Chart

SBUX Revenue (Quarterly) data by YCharts

The secret to Starbucks' success? The company revamped the way it delivers its popular products to customers. Starbucks realized that the on-the-go and contactless experiences weren't short-lived trends. So, the company increased its number of drive-through locations and accelerated a store transformation. This involves focusing on mobile ordering, opening smaller shops in city centers -- and opening locations dedicated to pickup.

The brand strength Starbucks has built over a number of years has played a major role in the recent rebound. And I expect this to drive solid earnings performance into the future. Starbucks has more than 24 million active rewards program members -- and they account for more than 50% of spend in Starbucks' U.S. stores.

Now let's take a look at why Starbucks is such a great buy right now. Starbucks shares trade at about 30 times forward earnings estimates. That's around their lowest this year. At the same time, return on invested capital (ROIC) and free cash flow both are on the rise.

SBUX PE Ratio (Forward) Chart

SBUX PE Ratio (Forward) data by YCharts

These are positive signs for the company's growth and financial health. ROIC measures how much profit a company makes from its investment in its business. And free cash flow is the money left over after a company has covered costs to support its operations and capital expenditures.

It's clear Starbucks' business is on the right track. Its brand loyalty and proactive manner of serving customers signal more growth ahead. And that's why the only problem with this stock is once you buy it, you probably won't ever want to sell it.