Volatility has returned to the stock market. In particular, the tech-heavy Nasdaq Composite has suffered a rough start to the year. As of this writing, the index has dropped about 3.8% year to date and about 7.5% off its all-time high. That means the index is approaching a technical correction -- a drawdown of 10% from recent highs.

So, given the state of play, are there any bargains to be found in the Nasdaq? Today, three Motley Fool contributors will make the case for their favorite bargain bin buys on the Nasdaq: Advanced Micro Devices (AMD 1.48%), Broadcom (AVGO 8.64%), and Amazon (AMZN -0.72%).

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Don't miss the massive discount on this high-flying AI stock

Will Healy (Advanced Micro Devices): AMD has struggled over the last year. A prolonged slump in its gaming and embedded segments and a company forecast that it would experience a sequential decline in revenue have led to a 55% pullback in the semiconductor stock's price since it peaked one year ago.

However, that drop in the stock appears overdone for many reasons. Regarding its data center segment, that part of the business often suffers from the effects of seasonal sales patterns, and a quarter-over-quarter decline in Q1 of last year seems to confirm this trend.

Additionally, DeepSeek's breakthrough has also allowed entities to run artificial intelligence (AI) models at much lower costs. Hence, even if AMD cannot catch up to market leader Nvidia, its lower-end AI accelerators could benefit from increased demand.

Indeed, AMD's overall growth rate has increased in recent quarters, not fallen back. Revenue in the fourth quarter of 2024 grew 24% to $7.7 billion. As recently as Q2, yearly revenue growth was just 9%.

This is likely because the slump in its embedded segment may finally be ending. Yearly revenue growth fell by 41% yearly in Q2. Fast forward to Q4, and the decline was now just 13% annually.

Admittedly, the 59% decline in gaming revenue may still weigh on investors. However, two of this segment's prominent clients, Microsoft and Sony, have not released new gaming consoles in years, which is likely weighing on this business.

Moreover, most of AMD's valuation metrics have become too compelling to overlook. Although the P/E ratio of 102 may appear high, its forward P/E ratio now stands at just 22. That is an earnings multiple more reminiscent of a mature, low-growth stock than a cutting-edge chip company.

Ultimately, business conditions are becoming more favorable for AMD, not less. With revenue growth accelerating and the stock pricing sinking despite a low valuation, the 55% discount in AMD stock may not last long.

A 27% sell-off is a buying opportunity for this top-notch tech stock

Justin Pope (Broadcom): Widespread sell-offs like you've recently seen can be fantastic buying opportunities for long-term investors, even if it rarely feels like it at the moment.

Frankly, the market's rally since early 2023 has led to some stocks going higher than their business fundamentals realistically justify. In other words, some stocks will decline and could take years to recover (if at all).

However, Broadcom isn't one of them. The stock's recent 27% opens the door to accumulating shares in a company poised to thrive as artificial intelligence grows and evolves over the coming years.

Broadcom is positioned well for the opportunity in inference chips, which will help apply AI models to real-world applications. The company has product roadmaps with several AI hyperscalers and estimated on its Q4 earnings call that its AI-related revenue opportunity will be $60 billion to $90 billion by 2027. Broadcom's AI-related revenue was only $12.2 billion in 2024, so the growth potential jumps off the page.

The great thing about Broadcom, though, is it's a diverse business with roots in communications and heavy software exposure (42% of 2024 revenue) that helps mitigate the cyclical nature of the semiconductor space. Analysts estimate Broadcom will grow earnings by an average of 18% annually for the next three to five years.

Broadcom's recent decline has dropped its PEG ratio to 1.7. I'm generally comfortable buying high-quality stocks at PEG ratios up to 2.0 to 2.5, so Broadcom appears reasonably priced here. Further declines would only strengthen Broadcom's appeal.

I get it; buying stocks when they fall doesn't feel good. It's counterintuitive to most people's emotional wiring. However, Broadcom is a diversified AI stock with compelling long-term growth opportunities. It's precisely the type of stock to lean into in a shaky market.

The time to buy Amazon stock is when it pulls back from its all-time high

Jake Lerch (Amazon): My rule of thumb for dealing with volatile markets is to look for quality stocks and plan to hold them for even longer than normal. That's why Amazon stock looks appealing to me.

This most recent downtrend seems to have been triggered by a combination of poor economic data, concerns over tariffs, and weakening sentiment surrounding AI stocks.

But here's the important thing to remember: This sort of stock market noise comes and goes. At the end of the day, great companies cruise through bad headlines and continue to deliver massive returns for their shareholders.

Consider Amazon. Over the last three years, the stock has experienced five 15% (or more) pullbacks from its all-time high -- including its most recent decline, which has seen the stock slide by just over 15%. Each time, it has gone on to recover and make new highs. In other words, each dip was an opportunity to accumulate shares.

Moreover, during Amazon's most significant drop in late 2022, shares were more than 50% off their all-time high. If you had swallowed hard and bought then, you would be sitting on a big gain today. A $10,000 investment at the start of 2023 would be worth more than $24,000 today -- despite the recent sell-off.

As for Amazon's fundamentals, I see a minimal impact despite the recent concerns. Amazon is well managed and diversified. It has the world's premier e-commerce business, the leading cloud services division, and an underrated advertising segment.

When taking the long view, I'm convinced Amazon can withstand any economic turbulence. And that's why investors would be wise to buy Amazon shares on the dip.