A look at stock trading in 2022 shows investors turned away from the technology sector in droves, helping spark a brutal sale on what were considered hot commodities not all that long ago. But unlike most "sales," lower prices tend to put off buyers when it comes to stocks.

Fortunately, long-term investors know that the market eventually recovers from a bear-level downturn, and the current bear market won't be an exception. These long-term investors also know they can now find numerous tech stocks, including Alphabet (GOOGL 0.83%) (GOOG 0.72%), Intel (INTC 2.13%), and Qualcomm (QCOM 4.26%), trading at massively discounted prices.

Let's take a closer look at why these three stocks are such great buys right now.

1. Alphabet

Alphabet's search and advertising business has long been the driving force behind its stock growth. Google search (and the advertising on it) helped Alphabet become a cash flow-generating machine, with a $116 billion cash position bolstering the company. And with more than $16 billion in free cash flow in the third quarter of 2022 alone, the hope is that it will continue to fund dozens of different businesses that will eventually diversify Alphabet's revenue stream away from this dominant revenue stream over time.

In Q3, advertising still accounted for 79% of company revenue. The business that's probably helped it diversify its revenue base the most is Google Cloud. In Q3, Google Cloud's revenue increased by 37% versus the year-ago results.

Still, the market did not generally receive the Q3 earnings report well. Overall revenue climbed about 6% year over year.Q3 net income dropped 26% over the same period. Double-digit increases in the cost of revenue and operating expenses weighed on the bottom line. That news led to a 10% stock price decline following the Q3 earnings announcement.

Nonetheless, other ad peers, such as Meta Platforms, report even worse struggles with the ad market. That challenge is likely driven by the economic cycle, not a fundamental flaw in its business model. That bodes well for its quick recovery once the economy gets back on track. With Alphabet's price-to-earnings (P/E) ratio of 17 at a multi-year low, this could be a once-in-a-decade buying opportunity.

2. Intel

Buying Intel may seem controversial. Competitors like Nvidia and Advanced Micro Devices have eclipsed the tech giant technically. Samsung now generates more revenue than Intel, which once billed itself as the world's largest semiconductor company.

However, Intel forecasts revenue between $63 billion and $64 billion for the year. Despite falling significantly, that still makes Intel a significant force in the industry.

Intel still operates more foundries on U.S. soil than any other company. That benefits it, as most clients and manufacturers want to move some production capacity away from Taiwan. Taiwan accounts for about two-thirds of the world's chip production capacity.

Furthermore, Intel will probably benefit from the $53 billion subsidy for foundries recently passed by the government. The company plans to spend $40 billion in the U.S. alone as it seeks to retake the technical lead and attract manufacturing clients for Intel Foundry Services.

Additionally, investors should pay more attention to its valuation, as Intel's struggles have decreased its multiple to just above 1.1 times its book value. This is well below the S&P 500 average of 3.7, allowing investors to buy Intel for little more than its assets minus its liabilities. That price-to-book value ratio dramatically reduces Intel's downside risk and could position it for gains as business conditions improve.

3. Qualcomm

Qualcomm has long led the smartphone chipset market. It was the first company to produce these chipsets for 5G, and even with rising competition from Taiwan-based MediaTek, it continues to dominate this market.

Qualcomm is working to diversify its revenue base from smartphones to Internet of Things and automotive applications. While that move could boost the stock long-term, it brings uncertainty as it tries to prove the viability of new product lines. Moreover, external factors continue to weigh on the stock. Since the chipset market is based heavily on the consumer, a sluggish economy can weigh on company sales.

Amid its recently released full-year fiscal 2022 earnings (which ended Sept. 25), the company predicted a "low double-digit percentage decline" for sales. For fiscal Q4, revenue increased by 22%. But due to the rise in costs and expenses, quarterly net income rose by only 4%. This sent its stock plummeting to 52-week lows.

Nonetheless, the 5G upgrade cycle that has driven Qualcomm's revenue should continue, and its P/E ratio of 9 should mitigate the downside risk. Considering the chip business's cyclical nature, Qualcomm should recover as conditions take a more favorable turn.