The following stocks are approaching valuation levels that I believe would make them highly attractive long term (more than one year) buying opportunities.  All of them have come down significantly from their 52-week highs (some, such as Akamai - down 55%, more than others).

Most of these companies are leaders in their field with strong balance sheets and cash flow.  Others, such as General Motors, have a significant turnaround opportunity ahead of them (strong slate of new car models - Malibu, Enclave, etc., substantial declines in labor costs) once we get beyond the current economic malaise.  And, most have strong international exposure (geographic diversification) and overseas growth opportunities.

Akamai is probably the riskiest bet of the bunch (although some might argue that GM is even riskier), yet, its core business of speeding the delivery of content around the web offers the best opportunities for continued long-term growth.

The best way to play GM, may be to purchase long-term options (the Jan 09 $25’s are currently going for $4.30 and the Jan 10 $25’s are going for $5.90).  This is a great bet if you believe GM will turn itself around even modorately and the econimc downturn will be relativelty short-lived.

 

Akamai Technologies Inc (AKAM) - $26.64 (01/17/08 close)

Cisco Systems, Inc (CSCO) - $24.33

3M Co. (MMM) - $74.96

Intel Corp (INTC) - $19.33

McDonald’s Corp (MCD) - $51.98

General Motors Corporation (GM) - $22.84

Starbucks Corp (SBUX) - $19.05