3 Super Growth Stocks to Buy Hand Over Fist If the Stock Market Crashes

The stock market is experiencing a significant downturn, with the S&P 500 declining by more than 4% on the day of reporting. While it is uncertain whether this will lead to a recession or another correction, crashes and corrections are common occurrences. Investors should avoid keeping short-term money in stocks and instead be prepared to weather any market fluctuations. Nevertheless, downturns offer excellent opportunities for purchasing growth stocks at lower prices.

Eli Lilly (LLY -0.79%) is a prominent player in the GLP-1 weight-loss drug market, with popular products such as Mounjaro and Zepbound. Over the past five years, the company's stock has averaged annual gains of nearly 40%. Despite its current price-to-sales (P/S) ratio of 14.7, which is above its five-year average of 13.3, investing in LLY could yield substantial long-term gains if held for an extended period.

The company is performing well, with a 39% year-over-year revenue increase in the third quarter and management raising expectations for the full year. In addition to GLP-1 drugs, Lilly offers treatments for Alzheimer's disease, eczema, and cancer. Despite competition, Lilly remains a major force in the GLP-1 sector, with potential expansion opportunities.

Micron Technology (MU +5.12%) is a leading semiconductor company specializing in memory and storage chips, crucial for artificial intelligence (AI) processing. The company's shares have delivered impressive annual gains of 47% over the past decade, with a remarkable 265% increase in the past year. Factors contributing to Micron's success include its presence in AI and data center markets, which are experiencing rapid growth.

Even though Micron's shares have dropped by 26% over the past month due to competition from Chinese firm CXMT and concerns about a potential slowdown in AI and data center build-out, such worries might be overstated. Rival SK Hynix is still grappling with a memory shortage that could persist through 2030. Furthermore, Micron's shares appear reasonably valued or even slightly undervalued at their current prices, with a forward price-to-earnings (P/E) ratio of 5, compared to its five-year average of 11.

For long-term investors, now could be an opportune time to acquire Micron shares during a market pullback.

Nvidia (NVDA +2.77%) is a semiconductor giant with a market value of $4.4 trillion. The company is well-positioned to benefit from the growing AI sector, supplying memory chips for AI processing. Nvidia's shares have averaged annual gains of 52% over the past 15 years and 65% over the past three years. Currently, the company appears attractively valued, with a recent forward P/E ratio of 13, significantly lower than its five-year average of 33.

Investing in Nvidia might yield substantial returns if it outperforms market expectations. However, should Nvidia's shares decline as anticipated, investors may still find them appealing. Before investing, thoroughly research any of these stocks and consider adding them to your watch list.