Cheap stocks are back.

Not speculative junk. Not turnaround fantasies.

Profitable, growing companies with rising earnings now trade at valuations we haven’t seen in years.

That disconnect creates opportunity.

Here are several stocks where business momentum remains intact, but valuations now look far more attractive than they did just a year ago.

ServiceNow (NOW)

ServiceNow runs workflows inside many of the world’s largest companies, helping enterprises manage IT operations, employee workflows, and customer service processes in one platform.

The stock is down 50% over the last year. Yet:

• Earnings estimates continue moving higher.

• Backlog keeps growing as enterprises commit to long-term contracts.

• Customer retention remains an incredible 98%, showing AI hasn’t disrupted demand.

• Management continues buying back stock.

Shares now trade around 21x next year’s earnings.

The business keeps improving while the stock price went the other way.

At some point that disconnect will close and NOW will rally hard.

Salesforce (CRM)

Salesforce is the dominant customer relationship management platform in the world, helping companies track sales pipelines, automate marketing, and manage customer support operations.

Like ServiceNow, Salesforce is seeing:

• Earnings estimates move higher.

• A backlog that continues to grow.

• The company is also aggressively buying back stock.

Yet the stock is down 45% over the last year.

Companies rarely rip out Salesforce once it becomes core infrastructure.

Like ServiceNow, the business momentum remains strong even as the stock price has lagged.

This is another name that should snap back big once sentiment improves.

Uber Technologies (UBER)

Uber operates the world’s largest ride-hailing and delivery marketplace, connecting riders, drivers, restaurants, and couriers through its platform.

Investors continue to misunderstand how autonomous vehicles will impact Uber’s business.

Many assume robotaxis replace Uber.

Management argues the opposite: autonomy expands transportation demand, and Uber becomes the marketplace layer connecting riders to both human and autonomous fleets.

CEO Dara Khosrowshahi recently reinforced this view:

“We view the introduction of AVs as an overall growth driver in the markets in which we operate. AVs in the marketplace are turning out to be net positives in growing the overall economic pie. This is not the kind of technology that is going to replace. It’s going to augment.”

The stock currently trades around 16x earnings while the company continues to buy back shares.

I already own shares in my Million Mission portfolio. And I think they go higher from here.

PayPal (PYPL)

PayPal operates one of the world’s largest digital payments networks, enabling online payments, merchant checkout, and peer-to-peer transfers through PayPal and Venmo.

Unlike the companies above, PayPal is dealing with real competitive and growth challenges.

• Shares tumbled after earnings signaled slowing growth and tougher competition.

• Profit guidance disappointed investors.

• CEO Alex Chriss was replaced.

• The stock now trades around 7.5x earnings.

Sentiment is terrible. Headlines remain negative. Investors have mostly given up.

It feels similar to Intel last August when there was no obvious reason to buy and sentiment was universally negative.

Since then, Intel rallied roughly 150%.

Is PayPal next?

Nvidia (NVDA) & Broadcom (AVGO)

You didn’t really think we’d talk about cheap stocks without mentioning Nvidia, did you?

Both Nvidia and Broadcom continue drifting lower even as global demand for compute power explodes.

Just in the last few days:

• Alphabet guided to $175–$185 billion in 2026 capital expenditures, roughly double 2025 levels.

• Meta boosted 2026 capital spending plans by 73%.

• AMD CEO Lisa Su said AI demand is accelerating faster than expected and continues to exceed available compute.

• Earnings estimates for Nvidia and Broadcom keep moving higher.

In fact, Broadcom’s next-year earnings estimate jumped from $12.17 to $14.36 in just the last 90 days.

Yet both stocks remain well below prior highs.

Not for long…

Cheap opportunities are finally reappearing across the market.

The businesses powering enterprise software, digital platforms, payments, and the AI buildout are still growing – in many cases, faster than ever.

The best opportunities rarely feel comfortable when you buy them.

But when strong companies get cheaper while their earnings keep rising, history tends to reward investors willing to step in early.