4 Ultra-Cheap, Time-Tested Stocks That Can Turn $300,000 Into $1 Million by 2030

These screaming bargains are ripe for the picking by opportunistic investors.

There’s no doubt about it: This has been a challenging year for the investing community. Since the curtain opened on 2022, the storied Dow Jones Industrial Average and benchmark S&P 500 have dipped into correction territory (a decline of more than 10%), while the technology-focused Nasdaq Composite has fallen into a bear market , with a peak-to-trough decline of 31% since November.

Although big drops in the stock market can be unnerving and tug on investors’ emotions, they’re also, historically, an excellent time to put your money to work . Corrections and bear markets tend to run their course relatively quickly, and all notable declines throughout history have eventually been erased by a bull market rally. Image source: Getty Images. During bear markets, it’s not uncommon for investors to place added emphasis on valuation. Time-tested companies with reasonably low multiples relative to earnings, sales, and/or book value tend to be popular buys that steadily outperform over the long run.

What follows are four ultra-cheap, time-tested stocks that can, with patience, turn a $300,000 investment into $1 million by 2030. Meta Platforms

The first incredibly cheap stock that can more than triple investors’ money by the turn of the decade is Meta Platforms ( FB -4.06%), the company formerly known as Facebook. Take note that Meta will be changing its ticker symbol later this week to (drum roll) “META.”

What makes Meta such a special company is its social media engagement. Although public interest in social sites can ebb and flow, Meta’s assets — Facebook, Facebook Messenger, Instagram, and WhatsApp — are consistently among the most downloaded social apps on the planet.

To build on this point, Meta’s family of apps had 3.64 billion monthly active users during the first quarter. This effectively means that more than half the world’s adult population visits a Meta-owned asset at least once per month. Advertisers are well aware of this, which is why Meta has historically had no trouble charging a premium for ads on its platforms. Even though CEO Mark Zuckerberg has pivoted his company’s long-term focus to metaverse innovations, there’s no question that ads remain Meta’s cash cow.

Though it’s going to take time to get the support infrastructure in place for the metaverse — the next iteration of the internet, which allows users to interact with each other and their environment in 3D virtual worlds — Meta can be a winner. Investing tens of billions of dollars now could make Meta one of the key on-ramps to metaverse engagement.

At no point in Meta’s 10 years as a publicly traded company have shares been this cheap : 13 times Wall Street’s forward-year earnings forecast. Image source: Getty Images. American Eagle Outfitters

Another ultra-cheap, time-tested stock with all the tools necessary to make patient investors millionaires is specialty retailer American Eagle Outfitters ( AEO 6.76%).

It’s no secret that retailers are climbing a wall of worry at the moment. Supply chain disruptions caused by the COVID-19 pandemic and war in Ukraine, coupled with historically high inflation and inventory buildup, are creating havoc for retailers. American Eagle’s latest report clearly cited these inventory and supply chain struggles.

However, this is a company with an experienced management team that’s navigated its fair share of headwinds before. In particular, American Eagle Outfitters has shown time and again that it’s a no-nonsense company that can quickly move excess inventory. Ridding itself of unwanted merchandise has helped boost margins by encouraging more full-priced purchases during long-winded economic expansions.

As I’ve previously pointed out , American Eagle Outfitters’ brand also sits at the perfect price point. It offers teens and young adults brand-name apparel and accessories without cheapening the brand via huge discounts, or pricing customers out of a purchase.

Additionally, the AE story isn’t just about teen apparel and accessories . Intimate apparel brand Aerie has been growing significantly faster than its teen retail category. With dozens of new Aerie stores set to open, this intimate apparel brand could be AE’s key to more than tripling investors’ money in eight years.

Shares of American Eagle Outfitters can be scooped up for less than seven times Wall Street’s forward-year earnings forecast. To boot, investors are netting a nearly 6% dividend yield. Image source: Getty Images. AGNC Investment Corp.

Ultra-high-yield dividend stock AGNC Investment Corp. ( AGNC -1.07%) is yet another inexpensive, time-tested company that can turn $300,000 into $1 million by 2030. AGNC is a monthly dividend payer that’s yielding 11.8%, as of June 1, 2022, […]

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