As a result, the growth-oriented stocks that led the Nasdaq higher over the past two years now are stumbling and have pushed the index into correction territory. Many investors continue to buy stocks in this environment, and you might be wondering whether you should do the same. After all, stock prices are getting cheaper.

The chip maker is currently trading at 23.3 times earnings expected over the next 12 months, which is below its five-year historic average of 40 times.