Growth stocks have been relatively weak this year, and Starbucks (NASDAQ:SBUX) has been no exception. So far year-to-date, the stock is down about 7 percent versus the S&P 500, which is up about 4 percent. However, this is hardly a reason to be concerned. The stock has been one of the best performers in the S&P 500 since the financial crisis ended, with the stock trading as high as $82.50 after trading in the single digits just 5 years ago. A pullback is to be expected.
Furthermore, the stock seems to have made a double bottom in the high $60s in early February and again in April, which is when growth stocks started to turn around. But while I think several growth stocks still have more downside in the future, Starbucks might be able to buck the trend. There are several reasons for this.