Nasdaq Correction: 3 Growth Stocks That Make for Screaming Buys Right Now

Over the last five weeks, Wall Street has reminded investors that stocks can move in both directions. Although record-closing highs for Wall Street's major stock indexes -- the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) -- have become commonplace since the 2022 bear market ended, pullbacks, corrections, and even bear markets are normal, healthy, and inevitable aspects of the investing cycle.

Uncertainty surrounding the Iran war, which began on Feb. 28, has weighed down the S&P 500 and officially sent the Dow Jones Industrial Average and Nasdaq Composite into full-blown corrections. As of the closing bell on March 27, the Dow was down 10% from its record-closing high, while the Nasdaq was off 12.6%.

Image source: Getty Images.

History tells us that volatility and emotion-driven trading often pick up during stock market corrections. More importantly, historical precedent indicates that every double-digit decline in Wall Street's major stock indexes represents a buying opportunity for long-term-minded investors.

Even if the Nasdaq Composite isn't done swooning just yet, the following three growth stocks make for screaming buys right now.

Meta Platforms

The first supercharged growth stock that can be purchased with confidence amid the most significant drawdown in the Nasdaq Composite since President Donald Trump's tariff and trade policy announcement in April 2025 is social media maven Meta Platforms (NASDAQ: META). Shares of Meta ended March 27 more than 33% below their all-time closing high.

The concern for Wall Street, beyond rapidly rising inflation caused by the Iran war, is that Meta and a handful of its peers are being too aggressive in building out their artificial intelligence (AI) data center infrastructure. Meta is spending a small fortune to purchase graphics processing units and grow its AI Superintelligence Lab, which may weigh on its margins and profits.

While these fears are tangible, they overlook Meta's several competitive advantages.

To start with, Meta still generates nearly 98% of its revenue from advertising on its family of apps, including Facebook, WhatsApp, Instagram, Threads, and Facebook Messenger. Collectively, its family of apps attracted 3.58 billion active daily users in December -- far more than any other social media platform. Although Meta's ad platforms are tied at the hip to the health of the U.S. and global economy, it's usually able to command significant ad pricing power.

Additionally, Meta is one of the few public companies with enough cash on its balance sheet and cash generated from its operations to invest aggressively in its future. The company closed out 2025 with $81.6 billion in cash, cash equivalents, and marketable securities, and generated $115.8 billion in cash from its operating activities last year. CEO Mark Zuckerberg has a relatively successful track record of investing for the future and eventually monetizing new initiatives.

The final piece of the puzzle is Meta's inexpensive valuation. Shares can be purchased for 8.3 times forecast cash flow for next year, marking a 41% discount to their average multiple to cash flow over the trailing half-decade.

Image source: Getty Images.

Adobe

A second growth stock that makes for a screaming buy amid the Nasdaq correction is software titan Adobe (NASDAQ: ADBE). Since peaking in late 2021, shares of Adobe have plummeted 66%.

Like Meta, the proverbial cement block that's been dragging down Adobe is AI-related. Some investors are worried that AI will reduce demand for Adobe's highest-margin creative content solutions. Software stocks in general (i.e., not just Adobe) have been clobbered by fears that AI will make their solutions obsolete or less effective.

Despite these fears, Adobe's key performance indicators (KPIs) point to neither smoke nor fire.

In the company's fiscal first quarter (ended Feb. 27, 2026), subscription revenue grew by 13% and cash flow tipped the scales at $2.96 billion (a record high). Furthermore, its AI-first annual recurring revenue more than tripled year over year, according to the company. This doesn't appear to be a business that's struggling as AI evolves.

Furthermore, Adobe is doing what it can to reward its shareholders through a steady share repurchase program. Including the 8.1 million shares repurchased in the fiscal first quarter, Adobe has lowered its outstanding share count by almost 33% over two decades. This has had a decisively positive impact on its earnings per share.

Lastly, Adobe is historically cheap. Its forward price-to-earnings (P/E) ratio of 8.9 is 64% below its average forward P/E over the trailing five years.

Lyft

The third high-octane growth stock that makes for a no-brainer buy as the Nasdaq corrects lower is ride-share services provider Lyft (NASDAQ: LYFT). Shares of Lyft have cratered 84% since hitting their record high.

Perhaps the prevailing concern with Lyft is how ride-sharing companies will fare in an inflationary or recessionary climate. If consumers clamp down on their discretionary spending, ride-share companies may feel the sting.

But, similar to Adobe, the fears with Lyft appear to be largely overblown, as evidenced by its KPIs and the projected growth trajectory of ride-sharing.

According to estimates from Straits Research, the global ride-share market is expected to grow approximately tenfold to $918.2 billion from 2025 to 2033. Lyft has already established itself as a key player in the U.S. ride-share market, indicating that it has a seemingly sustained annual double-digit growth opportunity ahead.

Meanwhile, Lyft's KPIs suggest it's motoring along just fine. Gross bookings rose 15% last year, with the number of active riders increasing 18% to 29.2 million. This shows that Lyft's most valuable customers are becoming more engaged with the service, which should lead to margin improvements over time.

To keep with the theme, Lyft's valuation is the cherry on the sundae. Its forward P/E of 13.5 is a far cry from the triple-digit forward P/E multiples it traded at earlier this decade.

Sean Williams has positions in Meta Platforms. The Motley Fool has positions in and recommends Adobe, Lyft, and Meta Platforms. The Motley Fool recommends the following options: long January 2028 $330 calls on Adobe and short January 2028 $340 calls on Adobe. The Motley Fool has a disclosure policy.