So far, this year has been a lousy one for investors who hold a lot of tech stocks. The Nasdaq Composite has tumbled a frightening 31% since the beginning of 2022, and nobody knows when the carnage will end.

While it's been a difficult time to hold stocks, it's a great time to be a buyer. That's because, at times like these, the best stocks fall just as easily as ones that you should probably avoid in the first place. 

Two people at home looking at their devices.

Image source: Getty Images.

Every bear market in history has been wiped away by subsequent recovery periods. We don't know when the next rally will occur, but we can be fairly confident that these two stocks will come roaring back when it does.

These stocks have been beaten down so far that a modest sum of just $200 is more than enough to buy shares of both. If you do have an extra $200 that you won't need to pay bills, and your emergency fund is adequate, these two look like smart buys to make right now.

1. Doximity

Shares of Doximity (DOCS -0.77%) surged following its market debut in 2021. Unfortunately, it's fallen around 70% from its previous high-water mark.

Doximity is a social media business specifically geared toward doctors and other healthcare professionals. It's also, in effect, a leading provider of telehealth services. In addition to a curated social media feed, Doximity operates a service called Dialer. The Dialer platform gives care providers a way to contact their patients' smartphones in a setting that complies with privacy laws. It's hyper-popular because physicians can use Doximity Dialer on their personal devices without sharing any personal contact information.

Providing a social media experience tailored to the highly regulated medical field isn't just a neat idea. Doximity's already generating a sustainable and growing profit. During the company's fiscal first quarter ended June 30, 2022, net income more than doubled year over year to $22.4 million.

Doximity's stock price is down now, but its position as the leading social media application for physicians is stronger than ever. The company's membership roster already includes around four out of five U.S. medical professionals.

In these uncertain times, it's good to stick with businesses that can perform well in any economic condition. Investors have lots to be worried about, but we can be sure that physicians will continue doing their jobs even if the global economy sinks into a deep recession.

2. DexCom

DexCom (DXCM -2.67%) stock surged to a new peak in 2021, but it's since fallen around 48% from that high-water mark. The stock's plunge has enticed some of the world's most famous investors, and it's not that hard to see why.

DexCom makes continuous glucose-monitoring devices for diabetic patients, and there are a lot of patients to serve. The U.S. Centers for Disease Control and Prevention thinks there are around 37 million Americans living with diabetes right now.

DexCom's new lead product, the G7, is a tiny transmitter that patients stick to their upper arms for 10 days before it needs to be replaced. Constantly communicating with patients' smartphones, the CGM helps patients keep their blood sugar levels in a safe range. The devices aren't cheap, but they're a lot less expensive than hospitalizations that occur due to poor blood sugar management.

Healthcare plan sponsors eager to lower their diabetes-related expenses are driving up sales of the G7 in Europe, where regulators cleared the device this March. International sales soared 39% year over year in the second quarter.

DexCom expects the U.S. Food and Drug Administration to grant the G7 clearance before the end of 2022. With a full-scale U.S. launch to drive growth, 2023 could be a very exciting year for this company and its stock price.