Fool.com contributor Parkev Tatevosian evaluates The Trade Desk (NASDAQ: TTD) and its long-term prospects to determine if investors should buy. *Stock prices used were the afternoon prices of Sept. 27, 2023.
It's generally ill-advised to attempt to try timing the market, but that doesn't mean prospective investors should blindly buy a stock of a well-run company, either. This thought is shared by renowned investor Warren Buffett, who noted in his 1982 annual letter to Berkshire Hathaway shareholders, "For investors, paying an excessively high price for the stock of an outstanding company can negate the benefits of a decade of favorable business developments." With that in mind, it's a savvy strategy for prospective investors to create a watchlist of overvalued stocks just in case they fall and become buying opportunities.
A lot is going on in the world of growth stocks outside of the artificial intelligence (AI) names that investors are excited about. Investors can find stocks worth a look in digital advertising, robotic-assisted surgery, and even fertility care. Recent pullbacks make The Trade Desk (NASDAQ: TTD), Intuitive Surgical (NASDAQ: ISRG), and Progyny (NASDAQ: PGNY) more attractive stocks.