The allure of discounted blue-chip stocks shines brighter than ever amid the complex mosaic of the stock market.

With the stock market witnessing a rise driven by a handful of names, the flip side reveals several stocks lagging behind indices. This divergence casts a promising light on discounted blue-chip stocks with potential upside waiting to be tapped.

The past year has been sobering for the market titans below, undergoing a dip of 5% or more in their stock value. These blue-chip market dips offer an intriguing window into loading on some of the best blue-chip stocks on sale.

Remember, the blue-chip badge isn’t awarded lightly. These companies are industry vanguards with a history of solid earnings, robust management, and consistent dividends, serving as safe havens in stormy markets.

They promise the potential for a solid rebound as the market climate marches towards the positive. So let’s take a look at these discounted blue-chip stocks.

T-Mobile (TMUS)

America’s third-largest wireless carrier, T-Mobile (NASDAQ: TMUS), continues to command attention. Having fortified its position through its seismic $26.5 billion merger with Sprint three years ago, T-Mobile has undergone a resurgence.

The architect behind the firm’s growth trajectory, former CEO John Legere, managed to turn around the business and navigates a successful merger in his seven-and-a-half-year tenure. T stock is up double-digit margins in the past three years, but this year has been a start-stop story.

Despite missing revenue expectations this quarter, T-Mobile flipped the script to post a whopping profit of $2.2 billion. It recorded an 11% rise in core adjusted earnings before interest, taxes, depreciation, and amortization, reaching $7.3 billion.

In operations, T-Mobile proudly showcased industry-best net additions, with postpaid net account additions and customer additions on the higher side of estimates.

Indeed, the company’s resilience and performance offer an encouraging narrative for investors ahead and makes it one of the discounted blue-chip stocks to buy now.

Bristol-Myers Squibb Co (BMY)

Navigating through a challenging patent cliff, Bristol-Myers Squibb Co (NYSE:BMY) continues to prove its mettle. Despite the blow of key drugs losing exclusivity, the firm is standing firm with its powerful strategic plans.

Though Bristol-Myers Squibb has faced setbacks with its key drugs, such as Revlimid and Abraxane, losing exclusivity, the company’s forward-thinking initiatives are worth noting.

Recently introduced medicines such as Camzyos, Sotyktu, and Opdualag have shown rapid demand growth. As we advance, the company forecasts these three drugs to generate peak sales north of $12 billion, painting a promising long-term picture.

Bristol Myers has masterfully positioned itself for a powerful long-term rebound in the face of declining sales for some of its erstwhile stalwarts. It’s a testament to Bristol-Myers Squibb’s resilience and adaptability amidst shifting market landscapes.

NextEra Energy Inc (NEE)

NextEra Energy Inc (NYSE:NEE) continues winning investors with its heartening performances, cementing its place as a renewable energy vanguard.

With a strategic focus on wind and solar energy, its clean energy investments have driven consistent growth. Its regulated utility business ensures steady cash flow and earnings growth, especially in key markets such as Florida, where demand is surging.

The company’s second-quarter reports reveal robust growth that continues to beat expectations.

Net income for the quarter rocketed to $2.8 billion, doubling year-on-year figures, while operating revenues leaped a staggering 42% to $7.35 billion, outpacing analyst consensus estimates.

Its renewable energy unit boasted a tenfold year-on-year surge in second-quarter net income. The company’s exceptional growth and plans to double capacity by shifting towards cleaner energy sources by 2026 sustain optimism over the company’s future.

Despite its premium valuation, NextEra Energy presents a promising prospect for long-term investors with its high returns and renewable commitment.

Verizon Communications Inc (VZ)

Resilience and stability define Verizon Communications Inc (NYSE:VZ) as one of America’s premier telecom giants.

Despite the fluctuating market dynamics, the firm continues offering various services, from mobile and internet to other related offerings. Amid an industry faced with many trials and tribulations, Verizon has successfully navigated the waters, emerging stronger and poised for rapid expansion ahead.

Daunting challenges such as sizeable 5G investment and the increasing rivalry from cable companies have disrupted the telecom sector’s smooth journey.

Couple this with the rising interest rates on its massive debt load, and one can comprehend the reasons for the market’s lukewarm response to VZ stock.

Verizon’s recent financials paint a picture of endurance. Its second-quarter figures surpassed market estimates with aplomb with adjusted earnings of $1.21 per share and a robust $32.6 billion operating sales.

It posted an impressive $8 billion in free cash flow in the first half of the year alone. Verizon embodies a promising investment opportunity, with its shares trading less than seven times forward earnings and boasting a compelling 7.7% dividend yield.

Chevron Corporation (CVX)

Chevron Corporation (NYSE:CVX) stands out as a titan in the hydrocarbon sphere, having caught the attention of dividend investors for a good reason.

Despite the shifting narrative towards renewable energy sources, the high energy density, and the intermittency of wind and solar power, oil and gas players such as Chevron bring valuable diversification to the sphere.

With a forward yield of more than 3.8% and a comfortable payout ratio of 36%, the firm offers an attractive dividend portfolio with 37 consecutive years of dividend increases.

Though it witnessed a dip in its second-quarter net income and sales compared to last year, the figures have comfortably blown past analyst expectations, proving its long-term worth.

The rise of electric vehicles has somewhat muted Chevron’s glamour recently, but a broader perspective reveals its enduring long-term relevance.

Backed by robust revenue growth and consistent profitability, Chevron is a pertinent player in long-term investment.

The Travelers Companies, Inc. (TRV)

Undeterred by the industry’s headwinds, The Travelers Companies, Inc. (NYSE:TRV), bearing its distinctive red umbrella emblem, offers a spectrum of insurance solutions that continue to resonate with its massive customer base.

From property & casualty to auto, home, and business insurance, Travelers has made its mark across multiple segments.

While the firm encountered rough weather in the second quarter, with its core income experiencing a steep 98% year-on-year decline due to escalating catastrophe losses, there’s a silver lining.

Revenue for the quarter surpassed Wall Street estimates, driven by record net written premiums amounting to $10.3 billion.

Moreover, the firm has more than $600 million in its cash till, which should help it stave off any financial crises that may come its way following its so-so second quarter.

Consequently, Travelers remains a sturdy vessel in the tumultuous seas of the insurance sector. Fueled by robust revenue growth and dividend growth over 17 years, TRV stock remains an enticing pick.

Pfizer Inc. (PFE)

Positioned as a linchpin in the pharmaceutical realm, Pfizer Inc. (NYSE:PFE) remains a stalwart, promising tremendous growth and long-term value.

Coupled with its tempting dividend yield of more than 4.5%, the company represents an alluring prospect for investors craving a steady income stream.

Pfizer’s journey, of course, is not without its share of hurdles. Post-pandemic growth concerns loom, and financials face the brunt of tough year-over-year comparisons, given the company’s pivotal role during the health crisis.

Yet, Pfizer is battling these headwinds with an aggressive push into research and development. Its positive efforts have effectively resulted in a promising pipeline projected to unlock more than $20 billion in additional sales from new molecular entities by 2030.

Topping off this optimistic outlook, new business developments could chip in another $25 billion in revenue during the same period.

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