In the world of investing, discernment is vital, especially in a market that teeters between conviction and indecision. Amidst this ebb and flow, it’s imperative to consider the top blue-chip stocks to buy. These stocks are sturdy pillars supporting the business landscape’s most influential and relevant names. However, it’s important to consider that not all blue-chip stocks are created equal.

The secret lies in identifying the ones that, although beaten down, hold the promise of resurgence. These are the high-potential blue-chip stocks not yet swept up in the valuation tide that leaves many stocks trading at a premium. Hence, keeping your eyes peeled for these blue-chip stocks at low prices is important. That said,  in curating the buy blue-chip stocks now list, I’ve gone for blue-chips trading at more than 50% lower than their 10-year high prices.

Shopify (SHOP)

Despite experiencing turbulence over the past year due to post-pandemic shifts and other challenges, Shopify (NYSE:SHOP) is back again, asserting its market dominance. The e-commerce heavyweight recently revealed a 25.8% surge in first-quarter sales, reaching an impressive $1.51 billion.

Moreover, the company’s gross merchandise volume experienced a robust 15% boost to $49.6 billion and, on a constant currency basis, a solid 18% leap. Add to that a 10% increase in monthly recurring revenue, sitting comfortably at $116 million compared to the prior year. Shopify’s forward-looking stance is equally encouraging, with forecasts of second-quarter revenue growth to mimic its first-quarter bump last year while maintaining a similar gross margin percentage.

In a strategic move, Shopify has chosen to pivot away from logistics focusing on its strength, its software-as-a-service offerings. Therefore, all signs indicate that Shopify is set to continue being the go-to solution, powering businesses of all sizes.

Halliburton Company (HAL)

Halliburton Company (NYSE:HAL) is a stalwart in the energy sector, which continues to showcase its mettle as a potential frontrunner for the next rally. However, there’s a caveat, the oil services juggernaut needs the drilling landscape to pick up the pace. Nevertheless, despite China’s reopening not sparking much interest, other factors are lining up to create a bullish outlook for oil prices. The necessity to replenish the Strategic Petroleum Reserve, the potential pause in interest rate hikes, and OPEC’s additional production cut are all stacking up favorably.

Moreover, Halliburton recently released robust first-quarter results. The company kicked off the first quarter, increasing revenues by 33% year-over-year to $5.7 billion. With clients eager to ramp up oil and gas production, the company’s outlook for the year remains optimistic. As the energy landscape evolves, Halliburton seems poised to ride the wave of growth and opportunity.

Kinder Morgan (KMI)

Kinder Morgan (NYSE:KMI) is one of North America’s largest infrastructure companies and a titan in the realm of oil and gas pipelines and terminals. Its financial stability and rising cash flows have positioned it to foster robust dividend growth. However, it isn’t merely resting on its laurels. It’s aligning with the broader energy sector’s pivot towards lower carbon sources, a strategic shift that could unlock significant growth opportunities.

In the past, Kinder Morgan grappled with a low-interest coverage ratio and high debt resulting in a dividend cut in 2016. However, since then, the firm has stood on much stronger ground, as the revised payout is significantly more secure, with it looking to invest in growth projects and joint ventures in 2023. Moreover, these investments are funded through internally generated cash flow, eliminating the need to access capital markets.

The company’s distributable cash flow per share is projected to be around $2.13 in 2023, with a steady upward trajectory over the next half-decade thanks to growth projects and share repurchases. Its trailing twelve-month cash flows of $1.6 billion stand will continue to support its lofty shareholder rewards.

Newmont Corporation (NEM)

Newmont Corporation (NYSE:NEM) remains a star in the realm of gold stocks, boasting an impressive 3.8% dividend yield with over 35% growth over a 5-year period. The firm’s potential shines even brighter when we consider that gold prices might oscillate between $2,500 and $4,000 annually. Looming recession fears and uncertainty over interest rates could propel this surge.

This gold rush could translate into a cash waterfall for Newmont. The company forecasts a $400 million hike in free cash flow for every $100 increase in the price of gold. Imagine a $500 upswing in gold prices could result in a whopping $2 billion boost in incremental free cash flows annually. This financial windfall will inflate dividends and beef up the company’s credit metrics.

Newmont is also charting a course to trim down its all-in-sustaining cost, which will nudge EBITDA margins upwards, regardless of whether gold prices plateau post-rally. Additionally, their recent $20 billion acquisition of Newcrest Mining is likely to bolster the company’s gold reserves further and diversify its production towards copper.

Kraft Heinz (KHC)

Kraft Heinz (NASDAQ:KHC)  has been killing it with its quarterlies, outpacing the broader market by a hefty margin. The pandemic proved a boon for the firm as customers stocked pantries and feasted at home. The firm continues to shine, offering investors incredible value among its consumer staples peers.

The food and beverage powerhouse has a formidable brand portfolio and a global expansion strategy, positioning it for sustained growth. Its financial track record is a testament to its strength, boasting consistent sales growth, solid profitability, and a tantalizingly affordable valuation to its peers.

The company’s recent full-year forecast upgrade reflects its solid first-quarter performance and the anticipated easing of supply chain and transportation costs. An impressive 10.3% year-over-year improvement in adjusted EBITDA, which clocked in at $1.48 billion, surpassed analyst expectations by a sizeable margin. Analysts say its efficiency gains and margin improvements are likely the driving forces behind the raised guidance.

JD.com (JD)

Chinese stocks such as e-commerce titan JD.com (NASDAQ:JD) have taken a beating at the stock market over the past couple of years. Going public nearly a decade ago, these businesses have effectively skyrocketed, amassing sales of a hefty $67 billion in 2018 to a staggering $152 billion last year.

Yes, the dragon of the East has faced some major headwinds. The Chinese economy, battered by the coronavirus and extended slowdowns, witnessed fluctuating fortunes for eCommerce firms like JD. However, in the past couple of quarters, we are seeing the seeds of a comeback. Analysts project a robust 4% revenue surge this year, followed by a double-digit top-line rebound in 2024. Consequently, JD’s stock, selling at a mere 0.4 times forward sales estimates, it is an undervalued treasure chest waiting to be unlocked.

Adding to the excitement, Richard Liu, the company’s founder, resumes a hands-on role; JD could power through tumultuous post-pandemic waves toward prosperous shores.

Cloudflare (NET)

Cloudflare (NYSE:NET) is one of the top undervalued tech stocks to put on your watch list, offering a promising opportunity in the rapidly growing content delivery networks (CDNs) sector. CDNs, local data servers positioned near end-users, enable faster content delivery and protect against cyber attacks. As a leading network provider, Cloudflare is vital in handling significant internet traffic.

Revenues have grown by 50% over the past five years, with forward estimates at over 36.4%. Moreover, following a 20% plus drop in share prices after the company’s first-quarter earnings report, investors were quick to buy the dip, seizing the opportunity to pounce on the high-potential sleeper stock at discounted prices.

Cloudflare saw revenue growth in the first quarter of 37% year over year, with a gross margin of 75.7%. The company also boasted record-high win rates against competitors, indicating its competitive strength.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines