3 Bargain Stocks You Can Buy Today and Hold Forever

Stock investors have been on a rollercoaster ride in recent years, with the COVID-19 pandemic sending shares in tech, streaming, and e-commerce companies skyrocketing in 2020 and 2021. Then, macroeconomic headwinds in 2022 triggered a sell-off that saw stocks in some of the world's most valuable companies plunge. 

The market has gradually begun recovering since the start of 2023. However, plenty of opportunities exist to invest in solid growth stocks at bargain prices. 

Here are three bargain stocks you can buy today and hold forever. 

1. Apple 

As the home of consistently in-demand products such as the iPhone, MacBook, AirPods, and more, Apple (AAPL 0.52%) has achieved the highest market cap in the world at $2.3 trillion. Its consistent focus on quality led it to gain almost unparalleled brand loyalty among consumers and become a steadily growing stock that investors can count on. 

Apple's stock has risen about 240% over the last five years and around 880% over the last decade. However, one of the best reasons to invest in the company's stock is its performance amid economic challenges in 2022. While the Nasdaq Composite index fell 33% throughout last year, and companies such as Amazon and Netflix experienced stock declines of about 50%, Apple shares beat the market with its stock sliding a more moderate 27%.

In the first quarter of 2023, Apple reported dismal results, with revenue slipping 5.5% year over year and missing analysts' expectations by $4.5 billion. However, Apple shares have barely budged since the earnings release, mainly thanks to the company's reputation for consistent long-term growth. 

Apple's forward price-to-earnings ratio (P/E) of 24.35 has decreased by 10.7% over the last year, presenting an exciting buying opportunity and making the company's stock a bargain.

2. Disney 

This year officially marks 100 years of business for The Walt Disney Company (DIS -1.01%), solidifying it as one of history's most successful entertainment companies. The House of Mouse has dominating positions at the box office and in theme parks, with its streaming business likely to prove a lucrative venture over the long term.  

While it's often helpful to look at a company's five-year stock growth to determine its future long-term performance, it's more complex with Disney. The start of the pandemic sent its stock plunging in 2020 as theater and park closures effectively depleted two crucial revenue streams. Launching its flagship streaming service Disney+ helped its stock recover in 2021 as home-bound people flocked to digital entertainment. 

However, Disney was again hit by external factors in 2022, with economic declines dragging its stock down about 44% throughout the year. As a result, Disney shares declined 4% in the last five years and gained about 80% in the last decade.

Disney is the exception and not the rule in this case. Its previous five-year stock performance is not indicative of the next five years. The company has seen a solid return to park guests and theater audiences, with park revenue and operating income up more than 20% in the first quarter of 2023. Meanwhile, its release of Avatar: The Way of Water generated over $2.24 billion and surpassed 1998's Titanic to become the world's third-highest grossing film ever.

Disney's forward P/E of 23.72 decreased 38.88% over the last year, meaning its current stock price offers a lot of value, That makes it a screaming buy this month and one you can hold indefinitely.

3. Alphabet 

Alphabet's (GOOG -1.96%) (GOOGL -1.97%) stock plunged 38.6% throughout 2022 as rises in inflation triggered reductions in ad spending and revenue declines in the company's highest-earning segments. However, economic challenges won't last forever, with Alphabet remaining an excellent stock to buy and hold over many years.

With powerful brands such as YouTube, Android, Fitbit, and the many services under Google, Alphabet is a mammoth in the tech industry that will likely continue to expand for decades. The company's stock increased about 71% over the last five years and more than 235% over the last decade. The growth came alongside annual revenue, which climbed 106.7% to $282.84 billion since 2019, while operating income soared 129.6% to $74.84 billion.

Alphabet's latest quarter disappointed, with revenue missing Wall Street forecasts by about $440 million. However, its Google Cloud segment continued to thrive, with revenue rising 32% year over year. Meanwhile, the company's announcement that it would put a stronger focus on developing artificial intelligence, a high-growth market, is promising for its long-term future. 

As with other stocks on this list, Alphabet's forward P/E of 18 is too good to ignore. The figure fell 36% over the last 12 months, with investors seemingly over-cautious about the growth stock. As a result, now is an excellent time to invest in Alphabet shares with plans to hold forever.