It’s nearly the end of the Australian tax year. This could be an opportunity to buy some leading ASX shares in June 2023.
All of the volatility that we’re seeing has opened up some eye-catching ideas, while business progress made by some companies makes them more attractive.
Here are two of the most appealing options to me.
Betashares Nasdaq 100 ETF (ASX: NDQ)
This exchange-traded fund (ETF) is about investing in many of the world’s biggest tech companies listed on the NASDAQ in the US.
We’re talking about businesses like Microsoft, Apple, Alphabet (Google), Nvidia, Amazon.com, Meta Platforms and Tesla. But there are many other names as part of the 100 holdings. This is a strong group.
The NDQ ETF suffered significantly from interest rates and inflation last year, but it has soared this year – up 37% as confidence returns.
Investors are loving the excitement about AI, with Microsoft and Nvidia being two of the easiest ways to get exposure. They’re not exactly cheap now though.
I’m not sure what the NDQ ETF’s returns will look like over the next 12 months, but after that, I think the ASX share’s long-term outlook is very promising as the underlying businesses deliver new products and services.
Temple & Webster Group Ltd (ASX: TPW)
Temple & Webster is Australia’s leading online retailer of furniture and homewares.
In my opinion, more Australians are going to buy more things online as the years go by. Younger Aussies are more comfortable buying things online, and the ‘millennial’ and ‘generation Z’ age groups are becoming older, entering stages where they might spend more on home items.
The ASX share is investing for growth, while also ensuring that it can become more profitable in the long-term.
It’s already making positive EBITDA (EBITDA explained), and a recent trading update by the business suggests that revenue growth of more 10% has returned, for now at least.
If we take into account the $100 million cash that the business has on the balance sheet, I think the valuation looks very reasonable considering how much it could grow in the future thanks to online adoption, as well as growth in home improvement and commercial customers.
