Ever since President Donald Trump announced his tariff plan, there's been no shortage of stocks that are trading for a big discount to their previous highs. This includes some of the most rock-solid brands in the world.

I've been gradually taking advantage of opportunities to add to my favorite long-term investments during this turbulent time. Although it's entirely possible for the stock market to remain volatile for a while, it looks like an excellent time to add shares of industry-leading companies like Walt Disney (NYSE: DIS) and Starbucks (NASDAQ: SBUX), and that's exactly what I did recently.

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An incredible brand that isn't going anywhere

Walt Disney struggled in the post-pandemic years to bring its streaming business to profitability and also may have priced its theme parks and related add-ons a bit too aggressively, without investing nearly enough in improving the customer experience. However, returning CEO Bob Iger has done a great job of setting Disney on the right path, focusing on efficiency and prioritizing investment in the cash-machine theme parks.

In the most recent quarter, Disney's revenue climbed by 5% against a tough comparable with the previous holiday season. Operating income and adjusted earnings per share grew by 31% and 44%, respectively, due to management's focus on efficiency, and the streaming business is now nicely profitable.

After the recent market declines, Disney is trading for its lowest price-to-sales multiple (P/S) since the financial crisis and is nearly 30% below its recent high. While it isn't immune to the tariff concerns (more on that in a bit), this could be a great entry point in this amazing business for long-term investors.

For the current fiscal year, management foresees about $15 billion in operating cash flow and $3 billion in buybacks. If the company's plan to invest $60 billion in its parks over a decade pays off, there could be significant growth in the years to come.

A second chance to get "Back to Starbucks"

Starbucks rallied sharply in August 2024 when Brian Niccol was announced as the coffee brand's new CEO. However, the stock has now fallen by 30% in just over a month and trades for its lowest share price since before Niccol's hiring.

Niccol has made some big moves to set Starbucks on the path to turning around its sluggish growth, a plan he has called "Back to Starbucks." Just to name a few, the company has simplified its menu, focused on dramatically cutting wait times, and taken steps to improve the in-café experience. So far, the results have been promising.

The company's latest earnings surpassed analyst expectations, although comparable sales fell slightly year over year. However -- and this is a very important point -- virtually all key customer-related metrics improved on a sequential (quarter-over-quarter) basis.

In the near term, margins have been pressured by some of the investments Niccol and his team have been making. But there's also a lot the company has done that isn't reflected in the results just yet, and this is still the relatively early stages of the turnaround.

SBUX PS Ratio data by YCharts.

After the recent decline, Starbucks trades for a historically low price-to-sales ratio. If the company's turnaround efforts reinvigorate growth (and margins improve), the current price could be a bargain for long-term investors.

Not immune to tariff risks

To be perfectly clear, both of these stocks are down for good reasons. Both have significant exposure to China, and if the trade war due to the tariffs escalates between the U.S. and China, it could certainly weigh on their results. This is especially true with Starbucks, which has nearly 7,600 stores in China -- about 19% of the company's total.

They are also both cyclical businesses, for the most part, and depend on the ability and willingness of consumers to spend money. If the tariffs trigger inflation and/or a recession, both companies could see consumers pull back on discretionary purchases.

As a long-term investor, I think both of these companies are looking very attractive. I plan to hold both stocks for years (maybe decades). During that period, recessions will come and go. But both are excellent businesses that should be able to steadily grow over the years, and investors who buy at the current depressed prices could do quite well.

Don’t miss this second chance at a potentially lucrative opportunity

Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.

On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:

• Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $244,570!*
• Apple: if you invested $1,000 when we doubled down in 2008, you’d have $35,715!*
• Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $461,558!*

Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon.

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*Stock Advisor returns as of April 5, 2025

Matt Frankel has positions in Starbucks and Walt Disney. The Motley Fool has positions in and recommends Starbucks and Walt Disney. The Motley Fool has a disclosure policy.