It’s been a volatile start to the week for the major market averages, with the S&P-500 (SPY) and Nasdaq-100 Index (QQQ) both sliding more than 3% to start the week on an intra-day basis. The good news? While the market is still expensive as many QQQ members, there are some names that trade at affordable prices when you consider their high growth rates. Two of these names are Paycom Software (NYSE:) and Amazon.com (NASDAQ:), with Paycom recently breaking out of a large base and Amazon currently pulling back after a failed breakout earlier this year.It’s been a volatile start to the week for the major market averages, with the S&P-500 (SPY) and Nasdaq-100 Index (QQQ) both sliding more than 3% to start the week on an intra-day basis. Although the market has been oversold in the short term, this hasn’t helped valuations of most tech stocks. The Nasdaq 100 is still higher than 120% from its March 2020 lows, while some top tech stocks have easily doubled this performance. Even though the market is still expensive as many QQQ members, there are some names that trade at affordable prices once you consider their high growth rates. Paycom Software, (PAYC), as well as Amazon.com (AMZN), are just two examples of such names. Paycom Software recently broke out of an extensive base while Amazon.com is pulling back from its failed breakout earlier this summer. Although neither of these names are cheap, it is worth watching for any market corrections. Let’s take a closer look below:

(Source: TC2000.com)

Paycom Software and Amazon have little in common. The one is an enterprise-software company with large capital. One is an Internet-Retail giant with large capital and a cloud computing platform called Amazon Web Services. Both companies share two characteristics: market leadership, a broad moat and amazing compound annual earnings per shares growth rates. In PAYC’s case, the company has grown earnings at an astounding compound annual rate of ~64% since FY2014. In AMZN’s case, earnings have grown at 101% compound over the past five years (FY2015). Both companies anticipate doubling their annual EPS between FY2020 und FY2023, suggesting they are still on the verge of achieving sustainable growth. This makes them attractive buy-the-dip candidates, especially since they’ve underperformed some of their peers over the past year, so they are nowhere near as extended from a technical basis. Let’s look at Paycom first:

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