Insights

2 ASX shares to buy in the current bloodbath

Want to pick up some bargains but don’t know where to start? Here’s a pair of stocks that the experts reckon could rise above the turmoil.
The post 2 ASX shares to buy in the current bloodbath appeared first on The Motley Fool Australia. –

The fear of US interest rates heading upwards has well and truly wafted across the Pacific, sending the S&P/ASX 200 Index (ASX: XJO) spiralling down 8% this month.

But as The Motley Fool chief investment officer Scott Phillips advises, this is the time to continue buying.

“We’ve been here before,” he said.

“But remember: the ASX has never yet failed to regain, and then surpass, its previous highs.”

But that’s easier said than done. 

Buying while everyone else is selling takes courage.

As such, investors might appreciate some advice from experts as to which businesses have bright post-crash prospects.

Burman Invest chief investment officer Julia Lee this week shared a couple of ASX shares that fit that criteria:

Profitable tech companies are looking appealing now

Software provider WiseTech Global Ltd (ASX: WTC) has seen its shares plummet more than 27% since 4 January.

Lee reckons it’s one to pick up as long as investors enter with a long-term mindset.

“WiseTech is one that’s probably going to struggle a little bit in the short term because Omicron has impacted on cargo container ship volumes,” she told Switzer TV Investing.

“But in the medium term I think the outlook is good.”

She noted that WiseTech is a technology company that actually turns a profit.

“I much prefer the profitable ones at the moment,” Lee said.

“[And] I think that growth story is very much still intact.”

WiseTech shares closed Thursday at $43.31.

The business was one of the best tech stocks to own over 2021, gaining a phenomenal 90.5% over the calendar year.

Everybody loves Goodman

Although it’s a real estate group, Lee picked Goodman Group (ASX: GMG) as a standout for the same reasons as WiseTech.

“It’s not a tech stock but it’s very much benefitting from our online shopping trends and e-commerce.”

Goodman develops and manages industrial properties, counting famous online retailers like Amazon.com Inc (NASDAQ: AMZN) among its clients.

Lee noted that this week some analysts speculated Goodman would upgrade its earnings forecasts in the coming reporting season.

Shaw and Partners portfolio manager James Gerrish told The Motley Fool this week that Goodman is also one of his favourite pick-ups at the moment.

“It’s all about buying quality that’s been sold off… Goodman’s down 16% from its highs,” he said.

“That’s a really high quality company that’s growing really strongly. They’ve got caught up in the sell-off of high valuation stocks.”

The Goodman share price sunk 3.72% on Thursday to close at $22.03.

The post 2 ASX shares to buy in the current bloodbath appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

More reading

2 quality ASX shares going for dirt cheap right now

3 blue chip ASX 200 shares to buy after the selloff

Is the Wisetech (ASX:WTC) share price a bargain after plunging 26% so far this year?

Top brokers name 3 ASX shares to buy today

What happened to ASX tech shares today?

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tony Yoo owns Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended WiseTech Global. The Motley Fool Australia owns and has recommended WiseTech Global. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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