Top Stocks to Double Up on Right Now

Stock market volatility is inevitable and can test even the most patient investors. But no matter what happens in the markets, the best companies will keep growing sales and profits -- and over time, their share prices tend to follow. That's why a pullback in the stock of a strong consumer brand can be an opportunity, not a reason to panic.

With that in mind, here are two of the most valuable brands to buy right now.

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1. Netflix

Netflix (NASDAQ: NFLX) has the ingredients of a solid long-term investment. It is one of the most recognizable brands and generates consistent revenue from millions of people paying their monthly subscription fee. And investors can currently buy Netflix stock at a tempting price, with its forward earnings multiple sitting at just 25 -- attractive, considering analysts' long-term earnings growth estimate of more than 20% annually.

It's a timely buy as Netflix prepares to acquire Warner Bros in an $82 billion deal. This is a significant growth catalyst, as it would add a treasure trove of iconic franchises to the service, including Harry Potter, the DC Universe, and Game of Thrones. Despite a competing bid from Paramount, the deal appears to be progressing as planned, with Warner Bros. Discovery recommending that its shareholders vote in favor of Netflix's offer at a special meeting scheduled for March 20.

However, Netflix would be fine if it lost to a competing bid. It's enjoying strong momentum on its own. Revenue grew 18% year over year in the fourth quarter to over $12 billion, with Netflix's ad revenue doubling over the past year.

The recent momentum in the business alone makes the stock an attractive buy right now. Adding Warner Bros would make Netflix's content offering even more appealing to prospective members, providing a bonus for investors.

2. Nike

Nike (NYSE: NKE) stock is down 63% from its previous highs -- and for patient investors, that presents a compelling buying opportunity. The sell-off reflects a few tough years of weak sales and earnings, but it also sets the stage for attractive returns if Nike's turnaround gains traction.

Nike is still the top athletic wear brand in the world. It generated $46 billion in trailing 12-month revenue, with roughly two-thirds coming from footwear. The slump doesn't reflect a weak brand but rather a combination of external headwinds, including tariffs and missteps with the merchandise assortment. All that is baked into the stock price, leaving favorable return prospects as new CEO Elliott Hill reinvigorates the brand.

There are early signs of a comeback. China remains the weak point, with sales down 17% year over year last quarter, but North America saw a 9% sales increase. Notably, Nike's core product, running shoes, posted its second straight quarter of year-over-year sales growth of 20% or more. Overall, total sales worldwide were up 1%.

Nike stock looks expensive based on this year's earnings estimate, but higher earnings in the coming years should send it higher. As margins improve, analysts expect Nike's earnings to grow at an annualized rate of 16% in the next several years. Add in a 2.46% dividend yield, and Nike could deliver satisfactory returns from these lower share prices.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Netflix, Nike, and Warner Bros. Discovery. The Motley Fool has a disclosure policy.