Stock market crashes are events that are both feared and welcomed by ASX and S&P 500 Index (SP: .INX) investors across Australia and America. Of course, no one likes seeing the value of their stock portfolios fall dramatically, especially when it's due to factors outside of our control.
At the same time, though, many ASX investors know that stock market crashes can be rare opportunities to buy shares of our favourite companies at bargain-basement prices.
These share market 'sales' don't come around too often. So when they do, it can be a great opportunity to pick up a rare steal.
Now, neither I nor anyone else knows when the next stock market crash will occur. It could be next month, next year, or next decade. But just in case, I keep a watchlist handy for when the next crash does come.
This watchlist contains shares that I might not necessarily like at current prices, but I would happily scoop up at a discount if the markets plunged.
Last month, I went through some of the ASX names that appear on this list. But today, I will discuss some American stocks on the S&P 500 Index that I would also like to increase my holdings of.
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My S&P 500 wishlist for the next stock market crash
First on my list would be artificial intelligence (AI) and semiconductor stock NVIDIA Corporation (NASDAQ: NVDA).
Like most investors, I have watched with awe as this company has exploded higher in recent years, thanks to its suite of exciting, future-facing products.
I do think Nvidia shares have gotten way too expensive (up around 180% over the past 12 months). But if this exciting company takes a major haircut in the next stock market crash, I would love to initiate a position.
The same goes for fellow AI stock Microsoft Corporation (NASDAQ: MSFT). We all know Microsoft for its Windows operating system and popular Office suite of productivity programs. You might also be familiar with its Xbox gaming division, which the recent acquisition of Activision Blizzard has bolstered.
But I'm mostly excited about Microsoft thanks to its investments in AI. This company already boasts a major AI investment with its stake in ChatGPT-owner OpenAI.
I'd happily buy any of the magnificent seven tech shares on the S&P 500. But Nvidia and Microsoft top the list. Perhaps along with Google-owner Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL).
Alphabet owns one of the most monopolistic businesses in the world in Google Search, not to mention other popular products like YouTube. So yes, Alphabet is another S&P 500 share I'd love to own more of at the right price.
A consumer staples giant on my buy list
But my final S&P 500 share on the watchlist is something a little different. Procter & Gamble Co (NYSE: PG) is not exactly a household name in Australia. But chances are you have probably heard (and bought) several of their prominent household brands.
This consumer staples giant counts razor brand Gillette, Fairy dishwashing products, Tide laundry powder, Oral-B toothpaste and shampoo brands Pantene and Head & Shoulders in its stable. Amongst many other global brands.
Procter & Gamble is one of those companies that is recognised for its high quality by most investors. It has got a 67-year streak of raising its dividend, after all. As such, its shares don't often trade at a discount. I already own a stake in this company, but if the S&P 500 takes a big haircut, I would love to buy up some more stock.
