After a strong start to 2023, the S&P/ASX 200 Index (ASX: XJO) has now fallen almost 4% since 8 February.
That means there could be some bargains to be bought during this particular dip.
Here are two buy suggestions from the experts this week:
Image Source: Getty Images
'One of the most innovative companies'
It has not been a pleasant ride for those who hold shares in US payments giant and Afterpay owner Block Inc CDI (ASX: SQ2).
The share price has plummeted a shocking 43.5% over the past 12 months, as the market has abandoned fintech stocks like it was a burning building.
However, Sequoia Wealth senior wealth manager Peter Day rates it as a buy at its current price.
"The share price of this buy now, pay later provider can be rapidly volatile in either direction," Day told The Bull.
"We view Block Inc as one of the most innovative companies in payments."
He admitted that those buying Block shares need to have the stomach for wild fluctuations in stock price.
"The stock suits investors with an appetite for risk," said Day.
"On March 22, the shares closed at $115.15. On March 24, the stock closed at $88.94. The shares were trading at $99.28 on March 30."
17 out of 18 analysts can't be wrong?
Despite an outstanding year for the energy sector in 2022, Seneca Financial Group investment advisor Tony Langford is bullish on Santos Ltd (ASX: STO) for this year.
"Production is forecast to grow, as demand for products is expected to remain strong."
He noted Santos' pleasing reporting season figures.
"The energy giant reported a full year 2022 net profit after tax of US$2.112 billion, up 221% on the prior corresponding period," said Langford.
"Free cash flow of US$3.641 billion was up 142%. Gearing was reduced to 18.9%. Higher oil and LNG prices contributed to the result."
For an energy giant, the Santos share price hasn't lit the world on fire over the past 12 months, actually falling more than 10%.
This mediocrity could point to a golden buying opportunity.
Quite a few of Langford's peers agree. According to CMC Markets, a remarkable 17 out of 18 analysts currently rate Santos as a buy.
