10 Magnificent S&P 500 Dividend Stocks Down 10% to Buy and Hold Forever

Since it briefly dipped into bear market territory in April, the S&P 500 has rebounded nicely, and many of the most attractive bargains in the market from that time no longer exist. But there are some stocks that are still trading for attractive valuations.

With that in mind, here are 10 stocks in particular that are down by 10% or more over the past 12 months, and a quick summary of why they might be worth a closer look.

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1. Airbnb: down 11% over the past year

Consumer spending has weakened a bit, and there's quite a bit of economic uncertainty weighing on Airbnb's (NASDAQ: ABNB) stock. However, this travel disruptor still has a massive growth opportunity, has tons of capital to invest as opportunities arise and is a highly profitable business.

2. Adobe: down 28%

Adobe (NASDAQ: ADBE) could be one of the biggest winners of the AI revolution, with several products such as Acrobat and Photoshop that are industry standards. Recent progress on some of its AI initiatives is showing impressive results, such asa year-over-year tripling of the use of generative AI features in Adobe Express in the latest quarter. This incredibly profitable tech leader at a valuation of just 17 times forward earnings seems like a bargain.

3. Advanced Micro Devices: down 21%

Investors often overlook Advanced Micro Devices (NASDAQ: AMD), better known as AMD, because it has a distant second market share to industry leader Nvidia (NASDAQ: NVDA) in the massive and fast-growing data center accelerator market. But AMD is showing some impressive traction in its business and has several other fast-growing and high-potential opportunities, such as chips for automotive applications and its ever-growing share of the PC/laptop chip market.

4. Applied Materials: down 29%

Applied Materials (NASDAQ: AMAT) makes the equipment that chipmakers such as Nvidia and AMD need to manufacture their products. Although the company's growth has slowed a bit, its earnings per share surged by 28% year over year in the latest quarter to an all-time high, and the company is aggressively buying back its own stock right now.

5. Best Buy: down 27%

Best Buy (NYSE: BBY) has underperformed despite releasing strong earnings in recent quarters. Not only is there a clear slowdown in consumer spending when it comes to large discretionary purchases, but also, since much of what Best Buy sells is made in other places around the world, it is highly sensitive to tariff uncertainty. However, this is a rock-solid business with excellent leadership, and it should be just fine over the long run.

6. D.R. Horton: down 12%

It's no big secret that the housing market is agonizingly slow right now. Higher mortgage rates have persisted for longer than most experts thought they would, and while homebuilders have held up quite well, the recent numbers haven't been great. Average selling prices are down, and most are having to use more incentives to get prospective buyers in the door. However, there's massive pent-up demand, and once interest rates finally start to come down, D.R. Horton (NYSE: DHI) could be a big winner among builders.

7. Host Hotels & Resorts: down 13%

Host Hotels & Resorts (NASDAQ: HST) is the largest real estate investment trust focused on hotels, and there has been a significant slowdown in bookings in recent quarters as consumers pump the brakes on spending because of economic uncertainty. However, this business has a portfolio full of top-quality assets, and investors get a dividend yield of more than 5%.

8. Pool Corp.: down 13%

One of the few stocks Warren Buffett's Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) has been buying recently, Pool Corp. (NASDAQ: POOL) is the leader in pool supplies and equipment. There's currently a lull in pool construction, but if interest rates start falling and Americans start tapping into their home equity for projects, it could be a big beneficiary.

9. Target: down 33%

Target (NYSE: TGT) is the worst-performing stock on this list over the past 12 months, and for some good reasons. There are tariff concerns, the company missed earnings recently, and its handling of DEI programs has created some controversy that hurt sales, as my colleague Will Healy recently explained. However, this is a fantastic business that trades for a rock-bottom valuation of less than 13 times forward earnings and has a 4.8% dividend yield.

10. T. Rowe Price: down 21%

Economic uncertainty has hit T. Rowe Price (NASDAQ: TROW), which saw nearly $9 billion of net outflows and a 4% year-over-year decline in investment advisory fees in the first quarter. But this is a best-in-breed fund provider that has an incredible long-term track record of returns. This looks like a rare opportunity to buy shares at a discount.

To be sure, I have no idea what these stocks will do over the next few weeks or months, and they could certainly be volatile in the near term. And I only included a short description of each, so it's a good idea to dig a little deeper before investing to make sure you fully understand the risks and opportunities. However, the point is that these are 10 well-run companies that investors looking for long-term bargains might want to take a closer look at.

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Matt Frankel has positions in Advanced Micro Devices and Berkshire Hathaway. The Motley Fool has positions in and recommends Adobe, Advanced Micro Devices, Airbnb, Applied Materials, Berkshire Hathaway, Best Buy, D.R. Horton, Nvidia, T. Rowe Price Group, and Target. The Motley Fool has a disclosure policy.