Investors are eager to move on from 2022, which has been a challenging year. Stocks of all shapes and sizes have been beaten down, and while tech stocks have faced the brunt of it, few were immune to price declines this year. Even stalwarts like Target and Microsoft have declined almost 30% in 2022.

This market downturn has punished both low-quality and high-quality stocks. While difficult to bear right now, it provides incredible opportunities for investors to scoop up shares of top-tier businesses. Therefore, to make the most of this 2022 downturn, you should consider buying these two stocks for 2023 and beyond.

The case for Visa

Shares of Visa (V 0.10%) have fallen 16% from their all-time high, but the company and its fundamentals have weathered the storm. Many investors thought that with high inflation and a slowing global economy, this dominant payments company would see activity plummet. Instead, Visa's business has continued to chug along in 2022. Revenue for the company's full fiscal year -- which ended Sept. 30 -- jumped 22% from the prior year to $29.3 billion.

How has this been possible? While consumers might be spending less on discretionary goods, how much consumers are spending hasn't wavered. Because Visa is the top dog in this industry, facilitating nearly 40% of global credit card purchases in 2021, the company has remained relatively resilient. This is evident in the company's payment volume during fiscal 2022, which jumped 15% year over year.

Robust leadership and operating performance aren't the only reasons to get excited about Visa. Because of the company's dominance in this industry, it has achieved fantastic cash flows. In fiscal 2022, the company generated nearly $18 billion in free cash flow. Visa is using this cash to reward shareholders by buying back more than $11.5 billion in stock during fiscal 2022. Importantly, this is a continuing trend: Over the past decade, Visa has repurchased so much stock that it has cut the number of shares outstanding by nearly 19%.

With a robust business model and stunning shareholder-friendly actions, Visa is a stock to serve as the bedrock of your portfolio. With a sustainable leadership position in a market that's unlikely to change, the company could continue to serve up excellent results over the long haul.

The case for Adyen

Like Visa, Adyen (ADYE.Y 2.90%) stock might be down, but its business is up. Shares of this payments processor have plummeted 54% from their all-time high, yet the company's financials are better than ever.

Adyen is an omnichannel payments processor for some of the world's largest businesses, including Microsoft, Spotify, and even McDonald's. The company's focus on providing an all-in-one processing suite separates it from the pack.

Some rivals only focus on in-person or digital payment processing, but Adyen serves all formats. In a world where businesses want to reach customers in all payment formats, Adyen has caught fire. The company's unified commerce platform -- its hybrid platform, where at least 0.5% of a customer's processed volume comes from point-of-sale platforms -- saw processed volume soar 83% year over year to €80 billion ($82.7 billion) in the first half of 2022.

Like Visa, Adyen has impressed investors with its profitability. In 2022's first half, the company boasted a net income margin of 46% and a free-cash-flow margin of 51%.

Those cash flows have been driven by top-line gains. In the first half of 2022, Adyen's revenue soared 37% year over year to €608.5 million. Considering the company offers plenty of profitability with healthy revenue growth, Adyen looks like a company that can sustainably increase its top and bottom lines for the long haul.

The primary concern is Adyen's valuation, which isn't cheap at 82 times earnings. However, the company believes it can increase revenue at a mid-20% to low-30% rate over the medium term. Given its sustainable profitability that will likely scale in line with its top line, the company could live up to this high sticker price.

Adyen has fallen as much as many unprofitable stocks struggling to live up to their egregious valuations, but this stock is a notch above these companies. Therefore, despite its high valuation, you might consider picking Adyen to buy and hold for the long haul.