Buy Alphabet and Block stocks, says investment strategist

Eva Ados, the chief investment strategist at ERShares, says investors should take advantage of recent price drops in stocks like Alphabet and Block. She discussed this on CNBC's "Power Lunch." Ados believes Alphabet, the parent company of Google, is currently undervalued compared to its competitors. The company is making strategic moves, such as its recent acquisition of cloud security startup Wiz. Ados noted that Google is addressing key national security issues through this deal. Despite a 20% drop in shares over the last month, she sees Google as "here to stay" and encourages buying at this price level. Ralph Lauren is another stock Ados is keeping an eye on. Although the luxury retailer's stock has fallen nearly 19% this month, she maintains a hold rating. Ados pointed out that Ralph Lauren's revenue growth remains competitive, even against e-commerce giants like Amazon. Goldman Sachs recently upgraded Ralph Lauren’s stock to buy, indicating it's a good entry point for investors. Ados also recommends buying shares of Block, which has seen a 30% decline this year. She believes the stock is attractively priced after being down 80% since its peak during the COVID-19 pandemic. Ados noted that there are positive trends for Block, particularly after its acquisition of AfterPay. She expects a potential boost when competitor Klarna goes public, which could benefit Block and the buy-now-pay-later market.