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growth investment, but it's a fantastic (and very low-risk) long-term income holding.10 stocks we like better than Lululemon Athletica Inc. ›You've almost certainly heard the adage "you get what you pay for." It just means the higher price you typically pay for quality usually ends up paying for itself, whereas bargains commonly end up costing you more. The advice applies within the investing realm as well, although the message to investors is more likely to be the blunt warning "cheap stocks are cheap for a reason."There are occasional exceptions to the rule, though. Sometimes, stocks are cheap for the wrong -- and temporary -- reasons. And every now and then, the exceptions are so extreme that investors would be wise to capitalize on any such mispricing while they can.With that as the backdrop, here's a closer look at three of these exceptions that may have a place in investors' long-term portfolios.Image source: Getty Images.It's been a tough year for Lululemon Athletica (NASDAQ: LULU) shareholders. The stock's down nearly 60% from its January peak for a combination of reasons, including tariffs and increased competition. Mostly, though, consumers' interest in fitness that was rekindled during the COVID-19 pandemic continues to deteriorate (last fiscal year's per-share profit of $14.64 falling to a projected $13.03 this year is the undeniable evidence). The market's simply pricing this headwind into Lululemon shares.The sellers, however, have overshot their target while overlooking a couple of important details about this company and the fitness apparel industry in general.First, the current headwind is predictably cyclical. Consumers' interest in fitness reliably comes and goes; it will rebound soon enough. Second, Lululemon Athletica is once again strategizing on how and where it wants to focus. It's aggressively pursuing international growth, for instance, while the fickle North American market completes its downcycle.The plan is working, too. Lululemon's second-quarter international sales grew 22% year over year versus a mere 1% improvement in its Americas revenue, extending a trend that's been in place since last year. It's enough to put the still-profitable company on pace for top-line growth of about 4% this fiscal year, with a slight improvement in the cards for next year, when earnings are expected to begin growing again.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,734.11 -3.38 (-0.05%)Dow 3047,147.48 -309.72 (-0.65%)Nasdaq22,900.59 +30.19 (+0.13%)Russell 20002,388.23 +5.25 (+0.22%)VIX19.83 -0.17 (-0.85%)Gold4,094.20 -100.30 (-2.39%)PortfolioSign in to access your portfolioSign inTop gainersCDTX Cidara Therapeutics, Inc. 217.71 +111.72 (+105.41%)SRRK Scholar Rock Holding Corporation 37.41 +7.34 (+24.41%)AVDL Avadel Pharmaceuticals plc 23.56 +4.32 (+22.45%)LGN Legence Corp. 40.27 +6.95 (+20.86%)CSIQ Canadian Solar Inc. 33.58 +4.96 (+17.33%)Top losersDGNX Diginex Limited 10.53 -2.97 (-22.00%)STUB StubHub Holdings, Inc. 14.87 -3.95 (-20.99%)HTFL Heartflow, Inc. 27.98 -2.96 (-9.57%)EOSE Eos Energy Enterprises, Inc. 13.80 -1.40 (-9.24%)CLSK CleanSpark, Inc. 10.96 -1.02 (-8.51%)Most activeNVDA NVIDIA Corporation 190.17 +3.31 (+1.77%)ONDS Ondas Holdings Inc. 7.18 +0.62 (+9.45%)OPEN Opendoor Technologies Inc. 8.12 -0.44 (-5.14%)TSLA Tesla, Inc. 404.35 +2.36 (+0.59%)PFE Pfizer Inc. 25.06 -0.73 (-2.83%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 96,379.36 +511.18 (+0.53%)ETH-USD Ethereum USD 3,233.53 +65.31 (+2.06%)XRP-USD XRP USD 2.27 +0.01 (+0.28%)SOL-USD Solana USD 142.93 +1.70 (+1.21%)BTC-EUR Bitcoin EUR 82,921.23 +439.80 (+0.53%)Top economic events