SBUX - 1 Growth Stock Down 35% to Buy Right Now
2024-06-12 07:00:00 ET
Vaunted market beater Starbucks (NASDAQ: SBUX) has fallen on some hard times. The stock, which has historically trounced the S&P 500 , is down over 30% from its high and has lagged the broader market for the past year.
The business has hit a rough patch with global sales down 4% year over year in its fiscal second quarter, ended March 31. Investors now have to determine whether Starbucks' struggles are just a blip or a significant turning point for the worst.
Only time will tell, but there is opportunity in uncertainty. I've outlined below why investors should consider an optimistic view on the coffee giant, what could be ailing sales, and why the stock could be a smart long-term buy.
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1 Growth Stock Down 35% to Buy Right Now