The Nasdaq just tanked. Here are 3 US growth stocks to consider for an ISA now

The expansion-focused Nasdaq Composite index – which is residence to large corporations like Apple, Microsoft, and Nvidia – simply had its worst day since 2022, falling 3.6% on Wednesday (24 July). It’s now down about 7% in just some weeks. On the lookout for long-term ISA investments amid this sharp sell-off? Listed below are three prime US-listed progress shares to contemplate shopping for now.

Traditionally-low valuation

First up we now have ‘Magnificent Seven’ firm Amazon (NASDAQ:AMZN). It’s a worldwide chief within the on-line procuring and cloud computing industries (each of that are anticipated to develop considerably within the years forward).

Amazon inventory was buying and selling at $200 a number of weeks in the past. Right this moment nevertheless, it may be snapped up for $180 – 10% decrease.

I’m very bullish on the inventory on the present worth. Proper now, the forward-looking P/E ratio utilizing subsequent 12 months’s earnings per share forecast is simply about 30. That’s a historically-low valuation for this firm. And on condition that earnings are forecast to rise 57% this 12 months and 27% subsequent 12 months, I believe it’s a steal.

In fact, that valuation remains to be comparatively excessive. So, if there’s a slowdown in Amazon’s e-commerce or cloud computing companies within the close to time period, the inventory may very well be risky.

Taking a long-term view although, I anticipate the inventory to maneuver larger. At present, it’s my largest holding.

Taking up Nvidia

Subsequent, we now have Superior Micro Gadgets (NASDAQ: AMD) or ‘AMD’ for brief. It’s a number one chip firm (and a serious rival to Nvidia).

Again in March, this inventory was buying and selling close to $210. Now nevertheless, it may be picked up for $145 – about 30% cheaper.

I’ve been considering shopping for AMD shares for some time now. And I’m very tempted to drag the set off at present costs. The rationale I’m bullish is that the corporate has been growing high-powered synthetic intelligence (AI) chips designed to compete with Nvidia’s AI merchandise. I anticipate these chips to propel its revenues larger within the years forward because the AI revolution gathers steam.

In fact, AMD goes to have its work lower out competing with Nvidia. Right this moment, its rival is the clear chief within the AI chip market.

I reckon there’s room for a number of gamers on this trade, nevertheless. And with the inventory buying and selling on a forward-looking P/E ratio of 26 utilizing the 2025 earnings forecast, I like the chance/reward setup.

Benefitting from the journey growth

Lastly, take a look at Airbnb (NASDAQ: ABNB). It operates the world’s largest residence rental platform.

Airbnb shares had been buying and selling close to $170 in March. At present nevertheless, they’re sitting at $144 – about 15% decrease.

This inventory has an enormous quantity of potential, in my opinion. I anticipate the journey trade to expertise a growth over the subsequent decade as cashed up Child Boomers retire, and I reckon this firm will profit.

In fact, the large threat right here is authorities regulation. Not too long ago, Barcelona introduced a ban on short-term leases from late 2028. We might see related regulation from different main cities sooner or later.

The world is a giant place although. And I see scope for loads of additional platform progress right here.

The forward-looking P/E ratio is about 28 presently, which I consider may be very cheap.