The market sell-off has sent numerous stocks tumbling in 2022 as consumer-reliant companies have suffered from declines in spending. Rises in inflation and a potential recession in 2023 have made navigating the stock market cumbersome. 

However, all hope is not lost. Recent dips in share prices make now an excellent time to invest in companies with promising long-term outlooks. After all, it's always best to bet your money on a company's business rather than its stock. 

Warner Bros. Discovery (WBD 0.82%) and Apple (AAPL 0.47%) have each watched their stocks slide in 2022 but remain worthy investments this December thanks to positive outlooks over the long haul. Here's why. 

Warner Bros. Discovery 

Following headlines featuring Warner Bros. Discovery over the last year, you'd think it's best to avoid the company's stock like the plague. The entertainment giant's shares have plunged 55% year to date as controversial restructuring measures have spooked investors.

However, given its popular franchises such as Harry Potter, Game of Thrones, and DC superheroes, I would not bet against the long-term future of Warner Bros. Discovery. The company is well-equipped to cash in on the potential of these brands across multiple mediums such as film, TV, streaming, video games, and theme parks. 

Since Warner Bros. Discovery formed from the merger of Warner Media and Discovery Inc. in April, the company has been in flux as its CEO David Zaslav makes changes to prioritize profitability. In the third quarter of 2022, Warner Bros. Discovery reported an 11% revenue decline, earning $9.82 billion with a net loss of $2.3 billion.

The weak results largely stemmed from restructuring costs and macroeconomic headwinds affecting its advertising business, both temporary obstacles. The company revealed in its Q3 2022 earnings report that it expects its restructuring efforts to be "substantially completed by the end of 2024," which bodes well for Warner Bros. Discovery's long-term future.

With the launch of its new HBO Max and Discovery+ merged streaming service in 2023, multiple upcoming theatrical blockbuster releases, and Marvel's James Gunn now co-leading all of its future DC offerings, Warner Bros. Discovery has promising prospects. 

Additionally, its current price-to-earnings ratio of 12.8 shows the company's financial health is in better standing than its stock price would have you believe, making it a bargain buy this December.

Apple

Apple is home to some of the world's most coveted products, including the iPhone, Air Pods, the iPad, and its Mac lineup, to name a few. The high demand for its tech offerings drove the company to report revenue and operating income growth in its latest quarter despite significant declines in consumer spending throughout the industry. 

In Q4 2022, the iPhone manufacturer posted revenue of $90.15 billion, an 8.1% year-over-year rise and $1.38 billion more than previous analysts' forecasts.  Operating income increased 4.6% to $24.89 billion. 

Moreover, Apple has proven its position as one of the best growth stocks out there, with its shares rising 249% in the last five years despite a 19% dip in 2022. In fact, stock market star Warren Buffett has put 39.2% of Berkshire Hathaway's portfolio into Apple stock, giving Berkshire a 5.8% stake in the company worth $135.3 billion.

In the coming year, reports say Apple will enter the $25 billion augmented reality/virtual reality (AR/VR) market with a new AR/VR headset, fill out its Mac lineup with a larger iMac and beefier Mac Mini, and further grow its services revenue from recent price hikes. With its long-term plans to venture into even newer areas, such as folding phones and electric vehicles, Apple will likely continue to see significant gains for years to come. 

With $111 billion in free cash flow as of Sept. 30, a price-to-earnings ratio of 24, and some exciting developments in 2023, Apple is a screaming buy this December in the run-up to the new year.