With technology-focused companies suffering a disproportionate beating during the present market rout, diving into Nasdaq stocks to buy seems risky. After all, the Nasdaq Composite has sustained a loss of 27% since the start of the year, far wider than the other two major indices. Nevertheless, daring contrarians should consider the compelling discounts on tap.

For one thing, not all Nasdaq stocks to buy are levered to the tech sector. Indeed, investors will find incredible diversity in the exchange that presents viable prospects should a market crash materialize.

As well, the equities sector operates in cycles. We got through an extraordinarily bullish cycle, so it must be corrected with a bearish one. That’s not unusual, nor should it necessarily be something to be feared. Therefore, the Nasdaq stocks to buy on the dip represents a way to take control of an otherwise dour-looking situation.

PepsiCo (PEP)

Arguably one of the best Nasdaq stocks to buy following a market implosion, PepsiCo (NASDAQ:PEP) specializes in soft drinks. Given the addictive quality of the underlying products, PEP really could be a no-brainer during times of trouble. Essentially, people seek a respite from various troubles and PepsiCo can help address them, though in a cynical fashion.

According to a report from CNN, soft drink manufacturers enjoy a captive audience framework. “The more soda you drink, the bigger the ‘reward,’ and as would happen with most pleasurable things, we develop an affinity and want even more of them,” said Cordialis Msora-Kasago, a registered dietitian nutritionist and spokesperson for the Academy of Nutrition and Dietetics.

Further, even the diet variety of popular soda brands feature their own addictive qualities. During a market downturn, people will turn to stimuli, and caffeine and sugar represent popular ones. Therefore, PEP is an easy name to consider for Nasdaq stocks to buy.

Apple (AAPL)

Under normal circumstances, economic pressures – particularly those impacting consumer sentiment – should hurt Apple (NASDAQ:AAPL). And technically, the circumstances that erupted this year imposed significantly negative results for AAPL stock. For instance, it has slipped more than 13% on a year-to-date basis. Still, those seeking Nasdaq stocks to buy following a market meltdown should look closely at AAPL.

Despite myriad reasons to avoid discretionary purchases as much as possible, it appears that logic doesn’t apply to Apple devices. Upon launching its latest gizmos and gadgets, preorder demand encouraged observing analysts. Given these products are hardly what you would call cheap, the robust interest in forking over hard-earned dollars presents many possibilities for the consumer technology giant.

Essentially, even if other discretionary businesses fail, Apple commands a social cachet that refuses to fade. While I wouldn’t throw everything into AAPL right now, it makes for an intriguing position to build up over time. Therefore, it’s one of the Nasdaq stocks to buy for patient investors.

Dollar Tree (DLTR)

As a discount retailer, Dollar Tree (NASDAQ:DLTR) deserves significant attention among Nasdaq stocks to buy. Currently, the economic topic of the day, week, month and year is inflation. Specifically, when the money supply rises, the subsequent purchasing power of dollars in consumers’ hands declines. Obviously, this is basic Economics 101 – supply and demand.

However, what’s incredibly problematic about inflation is that it impacts modest income earners disproportionately. Indeed, the less money someone makes, the likelier it is that inflation imposes greater pain on them. Of course, the Federal Reserve understands this point. But if it fails to engineer a soft landing and instead facilitates a rough one, plenty of people can fall out of the upper income thresholds.

No one wants to see this circumstance materialize. However, if it does happen, you’ll want to consider DLTR as one of the Nasdaq stocks to buy.

Ulta Beauty (ULTA)

Deeply contrarian, Ulta Beauty (NASDAQ:ULTA) could very well be one of those 5,000-IQ market plays if you’re specifically seeking Nasdaq stocks to buy. While the underlying index suffered a loss of nearly 28% YTD, during the same period, ULTA is up 1.3%. True, by absolute standards, gaining 1.3% for the year hardly rates as exciting territory. But again, the major equity indices presently swim (or drown) in red ink.

That ULTA stock rides against the tide presents a worthy case for Nasdaq stocks to buy in and of itself. Still, it begs the question: why is Ulta doing so well (relatively speaking) when other businesses floundered? It may boil down to relevance of the underlying industry.

Currently, one of the debates in the domestic economy focuses on the return-to-the-office battle. In short, workers want to stay home, but upper management wants them physically back in their posts. Because enterprises sign the checks, they make the rules. Therefore, a possible full return to normal could inspire concerns about looking presentable in the workplace, thus boding well for ULTA.

Amazon (AMZN)

Arguably, the red ink Amazon (NASDAQ:AMZN) is seeing may be cathartic to many, if not most people. In several ways, Amazon represented an economic vacuum cleaner, sucking away opportunities from mom-and-pop stores. By killing the diverse small-business ecosystem, the e-commerce giant effectively became the Hollywood epitome of every corporate bad guy. Therefore, I suspect few tears exist for Amazon’s woes.

At the same time, for investors willing to set aside their emotions, AMZN could be one of the better ideas for Nasdaq stocks to buy during a market meltdown. True, the underlying firm suffers from myriad controversies. Nevertheless, replacing such a dynamic and dominant firm will be difficult. Politically, I’m not sure it makes sense to dismantle or otherwise stymie Amazon considering rising competition in the global economy.

Further, Amazon plays into several relevant industries. It’s not just e-commerce, which clearly is massive. Rather, the company delves into other segments, such as cloud computing and even streaming content. Therefore, AMZN is one of the long-haul Nasdaq stocks to buy.

Upwork (UPWK)

Let’s be honest. You don’t need to wait for an equities sector implosion to get a discount on freelancer marketplace Upwork (NASDAQ:UPWK). Hemorrhaging 54% of market value, you can acquire shares right now and feel good about the purchase. Of course, you don’t want to haphazardly buy Nasdaq stocks just because they printed crimson ink. That’s a surefire way of eventually suffering catastrophic losses.

However, with Upwork, the freelancer platform fortuitously provides immense relevance. The reality is that people are not as honest as you might think they are. In fact, publications exist that help employers combat potential work-from-home abuses.

Therefore, with this massive debate about the return to office culminating in a head-on collision, at least some folks will pivot to the gig economy. That should be music to Upwork’s ears, making UPWK one of the best Nasdaq stocks to buy.

RCI Hospitality (RICK)

Easily one of the most controversial Nasdaq stocks in any context, RCI Hospitality (NASDAQ:RICK) is a special business. It caters to an audience that predominantly identifies as male with nightclubs, restaurants and other adult enterprises.

From a moral perspective, many investors might question including RICK stock on this list of Nasdaq stocks to buy. Fundamentally, morals shift and overlap between person to person, so it’s not something I can judge. But from an investment perspective, RICK absolutely deserves attention from market participants because of its track record.

According to CNBC, following the wake of the Great Recession, this industry boomed during the troubles. Essentially, RCI caters to a similar narrative bolstering PepsiCo. People want a distraction during rough times, and they crave dopamine. That’s what RCI provides, and it could be due for a repeat performance should a recession occur again.

On the date of publication, Josh Enomoto 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.