After last year's sell-off when the Nasdaq Composite index plunged 33%, keeping a long-term mindset when buying stocks has become even more crucial. Doing so will allow your investment to continue growing, even when factoring in short-term declines. 

As 2023 gets underway, many companies are seeing some stock price recovery as Wall Street gains some optimism about the prospects for the year. And yet, last year's steep market declines mean there are still plenty of buying opportunities. 

Here's my take on four strong growth stocks to buy this week. 

1. Amazon 

In 2022, Amazon's (AMZN -0.63%) stock price fell almost 50% as its business took multiple hits from macroeconomic headwinds. Decreases in consumer spending and foreign exchange challenges led the company's e-commerce segments to report a total of $10.6 billion in operating losses in fiscal 2022, even after revenue from its North American and international segments cumulatively rose 6.4% year over year to $433.9 billion.

Despite the temporary obstacles, Amazon has a lucrative long-term outlook. It's the biggest name in e-commerce and cloud computing, which remain high-growth markets. Meanwhile, its average 12-month stock price target is 45% higher than its current position, making it a screaming buy this week.

Amazon share prices have risen 22% in the last five years and 585% in the last decade. As a result, its recent tumble only makes this stock more attractive right now.

2. Apple

Apple's (AAPL 0.62%) share prices are up 16% in 2023, with investors rallying over the company's prospects in the augmented/virtual reality market and long-term improvements in its iPhone production, including a move out of China. Despite the rise, Apple's price-to-earnings ratio (P/E) proves that its stock still offers more value than many of its tech peers, as shown in the table below. 

AAPL PE Ratio Chart

AAPL PE Ratio data by YCharts

In addition to value, Apple's stock has a reputation for consistent long-term growth. Over the last five years, its stock price has risen 241%, and it's soared 880% over the last 10 years. The stellar stock growth has come alongside revenue which has increased 48% to $394 billion since 2018, with operating income rising 68% to $119 billion.

There's hardly ever a wrong time to invest in Apple, but its reliable rate of return and bargain stock price make it a no-brainer buy this week. 

3. Advanced Micro Devices 

Advanced Micro Devices (AMD 1.13%) may have a high P/E, but its past performance of growth and its outlook earn it a spot on this list. 

The last five years have seen AMD share prices soar 586%, and they've risen over 3,000% in the last decade.  The company's rising dominance in computing components sent its annual revenue climbing 264% to $23.6 billion since 2019, as operating income increased 180% to $1.3 billion.

AMD suffered significant losses in 2022 as PC market declines brought reductions in sales of its consumer graphics processing units (GPUs) and processors. In fact, worldwide GPU shipments fell 42% throughout the year as rising inflation led people to cut back on discretionary spending.

Despite the hits, AMD's pivot to more lucrative parts of business saw revenue in its data center segment become the highest-earning part of its business after an annual revenue rise of 63.5% to $6.04 billion. Meanwhile, its embedded segment reported a revenue increase of over 1,700% to $4.55 billion.

AMD may have stumbled in 2022, but its history of stellar stock growth and its prospects in data centers and embedded products make it a company worth a long-term investment. 

4. Disney

Walt Disney (DIS -0.34%) share prices plunged 44% throughout 2022 after a financially difficult few years, with the COVID-19 pandemic and economic challenges making it costly to develop its flagship streaming service, Disney+.  

Unlike big tech companies like Apple and AMD, which see immense growth in short bursts of time, Disney is one of those incredibly reliable stocks you can buy now and trust to gradually rise indefinitely. The Walt Disney Company entered its 100th year of business in 2023, proving that longevity is not an issue for this entertainment giant. 

Over the last five years, Disney shares have decreased by 1%, and they've risen 81% over the last 10 years. The five-year decline is mainly owed to nearly two years of pandemic-induced theme park and theater temporary closures, followed by an economically challenging environment in 2022. However, its 10-year growth is impressive considering recent headwinds. In the decade before (2002-2012), the stock rose 76.7%, illustrating an improvement.

Moreover, Disney's forward P/E of 24.6 has decreased by 33% over the last year, signaling a buying opportunity. Along with powerful brands such as ESPN, Marvel, Star Wars, Pixar, and Walt Disney Studios, the company's stock is an excellent investment to buy now and hold forever.