When the stock market recovers from a crash, there are always stocks we wish we'd bought on the dip. I'm not just referring to the popular stocks here, but also shares of lesser-known companies that are quietly setting themselves up for big things to come, driven by futuristic technologies or secular trends in their respective industries. Albemarle (ALB -0.14%) and Trimble (TRMB -0.22%) are two such solid beaten-down stocks to buy now.

While one company is using cutting-edge technology to transform boring sectors like agriculture and construction, the other is focused on making the most of the opportunities in one of the hottest industries -- electric vehicles (EV). Albemarle and Trimble shares, however, are down more than 50% each from their respective all-time highs, making them attractive stocks to buy now. Here's what you need to know.

Albemarle is a no-brainer stock to buy now

Neha Chamaria (Albemarle): Albemarle stock has lost more than half its value in the past year and is down nearly 60% from its all-time high. That makes sense if you look at the dramatic fall in lithium prices. Lithium carbonate has slumped a whopping 68% so far this year, according to Trading Economics, hitting levels last seen in September 2021, thanks to decelerating global demand amid a supply glut from China. Lithium makes up the lion's share of Albemarle's business; the company produces a broad range of lithium compounds and products, and it's one of the world's largest lithium mining companies. It's, therefore, not surprising that the stock has fallen alongside lithium prices.

What's unwarranted, though, is the extent and pace of the stock's fall, which makes Albemarle a solid stock to buy right now for several reasons. The foremost, of course, is the long-term bullish outlook for lithium and how Albemarle is perfectly poised to exploit the opportunities.

With electrification, especially of vehicles, gaining traction steadily in the major economies of the world, demand for lithium is expected to rise steadily in the coming years. Albemarle projects demand for lithium to more than double between 2025 and 2030, driven by EVs. Albemarle is therefore investing heavily in lithium projects across the globe, including the U.S., China, Chile, Argentina, and Australia, and expects to nearly triple its lithium conversion nameplate capacity between 2022 and 2030. The company expects its lithium sales volumes to grow at a compound annual growth rate of 20% to 30% between 2022 and 2027.

Despite all the pessimism, Albemarle reported 60% year-over-year growth in net sales and net income each, in its second quarter. For the full year, it is projecting 50% growth in sales at the midpoint of its guidance. That alone should encourage investors to consider buying Albemarle stock now for the long term.

Trimble prepares for growth

Lee Samaha (Trimble): Trimble stock is down 51% from its all-time high in the summer of 2021, and I think the decline is creating a buying opportunity. The positioning technology company has a significant growth opportunity from becoming an ever-increasing part of its customers' workflow thanks to the increasing importance and adoption of advanced analytics. 

It's no longer simply about precise positioning technology for mapping (geospatial), construction and infrastructure, trucking fleets (transportation), and guiding agricultural equipment (resources and utilities). With Trimble's modeling and analytics, customers can integrate its technology into, say, optimizing trucking fleet routes or precise management of construction projects. As such, Trimble is on a pathway to improving its margin and cash flow profile due to selling more higher-margin software and services to customers and generating more recurring revenue simultaneously.

Moreover, acquiring the European cloud-based transportation management software platform Transporeon (completed earlier this year) adds geographic reach and recurring revenue streams to its transportation business. Meanwhile, the recent agreement to form a joint venture (JV) with agricultural equipment company AGCO (Trimble will receive $2 billion in cash and a 15% stake in the JV, gives both companies the scale and technology to take on Deere's leadership in precision agriculture. Both deals make sense and position Trimble to grow strongly for years to come.