You might have heard that the Chinese word for "crisis" combines the Chinese words for "danger" and "opportunity." That sounds great, but it isn't true.

There's a reason the idea resonates with many people, though. While crises can come with an element of danger, they also often present tremendous opportunities. I think that's the case with current market volatility and economic uncertainty, whether or not you believe it meets the bar of being a crisis.

Quite a few excellent stocks have been beaten down amid the overall market sell-off. Here are my three top stocks down 20% or more to buy hand over fist right now.

Image source: Amazon.

1. Amazon

If you could go back in a time machine and wanted to make money, an easy approach would be to aggressively buy shares of Amazon (AMZN 0.55%) every time it pulled back significantly. But you don't need a time machine: Amazon's shares are 22% below the high from earlier this year at the time of this writing.

Unsurprisingly, this sell-off is due to concerns about the negative impacts of tariffs. However, I suspect Amazon's business could hold up better than many expect. Even if the company passes along the higher costs resulting from tariffs to consumers, its e-commerce platform remains one of the best alternatives for finding low-price products.

Perhaps the most important thing to remember, though, is that exorbitant tariff levels will almost certainly be temporary. Whether or not trade deals are struck, the White House caves as inflation soars, the federal courts intervene, or a new president takes office, the current level of uncertainty will subside. And Amazon will be ready to roar back.

The long-term investment thesis for Amazon remains as solid as it was when its share price was hitting all-time highs just a few months ago. E-commerce still has a lot of room to expand. Organizations will continue shifting their IT spending to the cloud. Artificial intelligence (AI) will remain a massive tailwind. And Amazon is poised to benefit from all these trends.

2. Alphabet

Shares of Google parent Alphabet (GOOG -0.92%) (GOOGL -1.02%) have plunged nearly 27% below the peak from earlier this year. And there are several factors behind this steep decline that extend beyond the overall market jitters.

Probably the biggest dark cloud hovering over Alphabet right now is the potential impact of antitrust lawsuits. In less than a year, two federal courts have found that Google operated illegal monopolies. One case involved the Google Search engine, while the other related to Google's advertising technology (adtech) platform. In addition, testimony in federal court revealed that Apple executive Eddy Cue believes that AI search engines will eventually replace Google Search.

Isn't all this enough to consider running for the hills away from Alphabet stock? I don't think so. Admittedly, the antitrust rulings could cause major headaches for Google. However, I wouldn't get the cart before the horse: Alphabet just might come out in better shape than expected with its appeals.

I suspect Cue is right that AI search engines will replace Google Search over time. But I also predict that one of the best replacements will come from...Google. The company is already enjoying considerable success with its AI Overviews and AI Mode features embedded in its search engine. Betting against Google in search or AI is ill-advised, in my view.

AI should also provide tremendous growth opportunities for Alphabet in other ways. Google Cloud ranks as the fastest-growing major cloud service provider. Waymo is the leader in autonomous ride-hailing services (robotaxis). I expect Google will profit hugely from agentic AI and potentially artificial general intelligence (AGI) over the next few years as well.

3. The Trade Desk

The Trade Desk's (TTD 18.71%) share price has cratered this year. The adtech stock is down almost 60% from its record high hit in the fourth quarter of 2024. But don't play a funeral dirge for this one-time highflier. I think the Trade Desk could be like the mythical phoenix rising from the ashes.

The company's problems stem from missing revenue estimates in its 2024 fourth-quarter results. It marked the first time in 33 quarters as a public company that The Trade Desk failed to hit its internal expectations. However, I was glad to see management take full ownership of the issue and immediately implement a plan to fix things.

Is the shift from linear advertising to digital advertising slowing? No. Will there be more or less ad-supported connected TV in the future? More. Is the open internet ad market growing? Yes. Does The Trade Desk still offer the best platform for advertisers to target specific customers? Again, my response is "yes."

If my answers to these questions are right, buying The Trade Desk now should pay off handsomely over the coming years. This adtech stock's crisis presents a great opportunity for long-term investors.