There is no candy: times are tough in the stock market. Inflation is high; there is talk of a coming recession. The Dow Jones Industrial Averagethe Nasdaq Compositeand the S&P500 are down 15%, 30% and 21%, respectively, at mid-year.

All of this may sound scary, but bear markets are as natural as the seasons. They come and go. And every previous bear market was eventually followed by a bull market that broke above the previous high.

For investors who are willing to buy and hold, bear markets can be a blessing. They offer time to accumulate shares at reasonable prices. Moreover, they are indiscriminate, driving down stock prices whether a company is fundamentally sound or not.

So let’s look at three growth stocks you might regret not buying in this bear market.

1.Microsoft

If you had invested $10,000 in Microsoft (MSFT 1.07%) three years ago you would be sitting on over $19,400 today. Nonetheless, the software maker has not been immune to this year’s turbulence, with shares down 23% year-to-date.

However, in the case of Microsoft, I would place the blame squarely on the market; the business seems to be working quite well. Over the past four quarters, it has beaten consensus earnings-per-share (EPS) estimates every time — ranging from a high of $0.25 to a low of $0.04. Additionally, Wall Street expects full-year 2022 EPS of $9.30, up from $8.05 a year earlier. Similarly, analysts predict that Microsoft should grow revenue by around 16% per year over the next five years.

Additionally, Microsoft has one of the best returns on equity (ROE) in its industry, which is calculated by dividing net earnings by equity. In other words, how much profit does $1 of shareholder capital return in profit in a given year? Microsoft’s ROE is 48.2%, which means that every dollar of shareholder capital generates about $0.48 in profit. This impressive ROE exceeds many megacap software peers like Alphabet (30.6%) and Metaplatforms (28.6%).

Return on equity of MSFT. Data by Y charts.

Bear markets tend to bring down all boats, even powerhouses like Microsoft. Investors might be wise to buy the dip now and avoid regrets later.

2. CrowdStrike Holdings

The second Nasdaq stock I want to buy lower is CrowdStrike Holdings (CRWD 6.34%). This company sits at the intersection of two of the biggest secular growth stories: cybersecurity and cloud-based software. CrowdStrike sells modules that monitor, detect, and disable cyberattacks. The company relies on artificial intelligence to monitor its customers’ electronic assets and check for unusual activity.

Ransomware and other forms of cybercrime are among the costliest issues facing businesses today. A report of Cisco/Cybersecurity Ventures estimates that the total cost of cybercrime will reach more than 10 trillion dollars by 2025. Thus, CrowdStrike will have a significant total addressable market in the years to come.

The company is already seeing massive revenue growth, with year-over-year sales jumping 61% in the last quarter. Additionally, Wall Street is raising its earnings estimates for CrowdStrike, despite growing signs of an impending recession. Of the 32 analysts covering the stock, 31 rate it as a buy or a strong buy, and I agree. It’s a name I want to buy on any weakness.

3. Lululemon Athletica

Lululemon Athletica (LULU -3.39%) completes my list of growth stocks to buy. The athleisure-focused brand is a powerhouse with revenue growth of 31.6% in its latest quarterly results. The company started out focusing on women’s yoga apparel, but in recent years has branched out into men’s apparel and footwear.

Lululemon operates an e-commerce segment and physical stores, which can be found in the United States, Canada, United Kingdom, South Korea, and China, among others.

With operating margins of 21.6%, Lululemon is well ahead of competitors like Nike (14.3%) and Addida (8.2%). And its premium brand status gives it pricing power that has endured as pandemic restrictions eased and workers increasingly returned to the office.

Nonetheless, stocks are down 27.7% year-to-date. Maybe you should consider this as an opportunity. I look forward to buying Lululemon on every dive.