Key Points
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Netflix’s stock price reflects slower growth, but its global reach and rising profits point to a long-term winner.
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TJX’s bargain model has held up in tough economies, and it plans to grow its store count by about 42%.
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DoorDash’s membership loop continues to strengthen, and the recent dip looks like a buying opportunity.
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An unstoppable stock isn’t one that never falls. It’s a business that can keep growing for years because neither competition nor a weak economy can permanently derail it.
The S&P 500 — an index comprising many industry-leading businesses — is a great place to start your search for quality growth stocks, especially when they are trading at discounts. Some of the more attractive stocks trading below their previous highs include Netflix (NASDAQ: NFLX), TJX Companies (NYSE: TJX), and DoorDash (NASDAQ: DASH).
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Here’s why all three are worth buying on the dip in November to hold for the long term.
Netflix
Netflix stock has fallen 52% below its previous high. Revenue growth has slowed for four straight quarters, from nearly 18% in Q4 2025 to about 12% in Q3 2026. That said, slower growth is now fully priced in, setting up an attractive entry point for a business that is still expanding at double-digit rates.
The sell-off has pulled the forward price-to-earnings (P/E) multiple down to a modest 17.7x, which is a discount to the S&P 500 forward P/E of 19.2. What hasn’t changed is Netflix’s global reach. It has over 325 million paid memberships, reaching a global audience of nearly 1 billion people, and about $50 billion in trailing revenue.
Importantly, Netflix continues to generate healthy margins. Management expects the full-year operating profit margin to be 31.5%, and for operating income to increase 20% or more over 2025.
Most regions saw double-digit revenue growth last quarter (excluding currency fluctuations), indicating the service continues to attract new subscribers globally. Netflix reaches less than 45% of roughly 800 million broadband homes. Analysts still expect Netflix to compound earnings at around 20% in the next several years, which makes the stock’s discount look like a great buying opportunity.
TJX Companies
TJX is one of the leading off-price retailers, selling brand-name apparel and home goods at prices up to 60% below full-price retailers. This generates significant sales, with trailing-12-month revenue of $62 billion across four divisions — Marmaxx (T.J. Maxx and Marshalls), HomeGoods, TJX Canada, and TJX International.
The stock is down roughly 15% from its 52-week high, as of Oct. 27. Yet the business continues to perform well while many apparel stores struggle to drive sales amid elevated inflation and interest rates. Second-quarter comparable sales — sales at stores open at least a year — rose 4% year over year.
The profit margin has been steadily rising in recent years, reflecting a profitable strategy of selling discounted merchandise. This resulted in adjusted earnings per share growing 11% year over year in the recent quarter.
TJX has ample room to expand. It targets 7,500 stores, about 42% more than the current base. The stock is not cheap, trading at a forward P/E of 26, but that is within its historical trading range. It’s a solid retail stock that can continue to compound in value for years.
DoorDash
DoorDash shares are down 41% from their 2025 high, as of Oct. 26. The sell-off appears to be driven primarily by valuation concerns, setting up a more attractive entry point as the business continues to expand. In the second quarter, the number of orders, excluding the Deliveroo acquisition, rose 17% year over year, driving revenue up 24% to $4.5 billion.
The food delivery company continues to improve the platform by adding more merchants and categories. Adding more selection incentivizes people to sign up for a DashPass membership — adding a valuable layer of recurring revenue on top of merchant commissions and fees. It added more U.S. members in the last 12 months than the prior 24 combined.
Grocery has proven very popular with members. As DashPass members place more orders, it attracts more merchants, which in turn attracts more people to sign up for a membership. It’s a powerful, self-reinforcing flywheel that can keep the business (and stock) growing in value for years to come.
The stock’s pullback has brought the forward P/E down to 29, which looks more than reasonable relative to the roughly 44% annualized earnings growth analysts expect in the coming years. This could support market-beating returns from here.
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John Ballard has positions in DoorDash. The Motley Fool has positions in and recommends DoorDash, Netflix, and TJX Companies. The Motley Fool has a disclosure policy.
