A lot of well-known blue-chip stocks that previously dominated their respective industries are struggling this year. One need only look at the year-to-date performance of the benchmark S&P 500 index to see many notable names deep in the red so far in 2024. Companies such as Nike (NYSE:NKE), Starbucks (NASDAQ:SBUX), and Intel (NASDAQ:INTC), just to name a few, continue to slide lower. The situation has only gotten worse as the entire market declines to start the year’s second quarter.

While concerning, and no doubt frustrating for existing shareholders, the continued drawdown presents an opportunity for investors to take new positions in some great stocks at or near their 52-week lows. Many of these top-shelf companies can be counted on to eventually rebound once their earnings strengthen, the operating environment improves, and market sentiment turns optimistic. In the meantime, investors have an opportunity to buy low in hopes of eventually selling high.

Here are three blue-chip stocks to buy at a 52-week low in April.

Apple (AAPL)

It seems strange to say, but Apple (NASDAQ:AAPL) is now trading right around its 52-week low, having declined nearly 15% on the year. AAPL stock is also negative over the last 12 months (down 0.01%), meaning it has erased all of its gains from the 2023 bull market. In what might be a bad omen for the company’s upcoming earnings report on May 2, media reports tell us that CEO Tim Cook and other senior executives have sold more than $70 million of company stock in April as the share price has steadily fallen.

CEO Cook has sold $33.3 million of Apple stock so far in April at an average price of $169.33 per share. Cook sold AAPL stock 12% below its peak of $192.53 reached in December 2023. At the same time, Apple Chief Operating Officer Jeff Williams, Chief Financial Officer Luca Maestri, and Deirdre O’Brien, Senior Vice-President of Retail, also sold millions of dollars of Apple stock. This as International Data Corp. (IDC) reports that Apple’s iPhones shipments in the first quarter fell 9.6% from a year ago.

Also weighing on AAPL stock is the Department of Justice’s antitrust case against the technology giant, alleging that it violated federal law to preserve its position in the smartphone market. While there’s currently a buying opportunity with Apple’s stock, it might get even better after the company’s Q1 print in a few weeks.

Boeing Co. (BA)

For investors with a long time horizon, there is embattled airplane manufacturer Boeing Co. (NYSE:BA). Having fallen 35% since January, BA stock is not only at a 52-week low, but is currently the third worst performing company in the S&P 500 index this year. Only Tesla (NASDAQ:TSLA) and Globe Life (NYSE:GL), which has been accused of fraud, have performed worse than Boeing. However, while down, Boeing is likely to be far from out-given that it is one of only two major commercial aircraft manufacturers in the world.

Still, the pain for Boeing shareholders is likely to get worse before it gets better. The latest bad news is that airplane deliveries plunged in Q1 to their lowest level since the Covid-19 pandemic in 2021. Boeing has faced increased safety reviews by the Federal Aviation Administration (FAA) after a door plug blew off one of its 737 Max 9 airplanes in January. Consequently, Boeing delivered 83 new airplanes to customers in Q1, down 47% from 157 deliveries in the previous quarter.

As with Apple, Boeing’s stock could drop further after the company reports its Q1 financial results on April 24. But for long-term investors, the current share price decline could be a solid buying opportunity.

Spirit Airlines (SAVE)

Another aviation stock that is right near its 52-week low and struggling right now is Spirit Airlines (NYSE:SAVE). Down 75% on the year, SAVE stock is now trading under $5 a share, putting it in penny stock territory. The steep selloff comes after JetBlue Airways (NASDAQ:JBLU) pulled out of a deal to purchase the discount carrier for $3.8 billion, and amid a Pratt & Whitney engine recall. Spirit Airlines announced that it is deferring new aircraft purchases and laying off 260 pilots as it struggles with a liquidity problem.

While not without risk, SAVE stock could be worth a gamble now that its stock has fallen so much and is trading near rock bottom prices. The company appears to be doing all it can to conserve cash and improve its liquidity. Specifically, Spirit Airlines is deferring all aircraft orders, pushing them out as far as 2031. The budget airline is also furloughing the pilots. The combined moves will boost its liquidity by about $340 million over the next two years. And who knows, in that time another buyer may emerge for Spirit Airlines.

On the date of publication, Joel Baglole 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.