Why I would buy these shares after today’s market meltdown

Although today’s market meltdown is bitterly disappointing for investors, one small positive is that it has brought the prices of some quality shares down to more attractive levels.

While we do not know what the full impact of Trump’s plan will have on the global economy, here are three shares that I think have been unnecessarily dragged down today and could be great options for investors.

They are as follows:

Aristocrat Leisure Limited (ASX: ALL)

This gaming technology company’s shares are down 3% in afternoon trade. Although Aristocrat Leisure generates sizeable revenue internationally, most of this revenue is in markets which I feel are unlikely to slap a tariff on Australian imports. Therefore, I think today’s sell-off could arguably be a great opportunity to get hold of its shares at a cheaper price. I’m especially bullish on the company’s long-term growth potential thanks to its rapidly growing mobile and social gaming segment.

Crown Resorts Ltd (ASX: CWN)

Unless the global economy was to fall into a recession, I don’t believe that tourism into Australia is going to slow any time soon. So with this resorts and casino operator’s shares down 2.5% today, investors might want to consider snapping them up on this weakness. I expect the strong growth in tourism to result in higher occupancy and average room rates and more foot traffic through its casinos.

Macquarie Telecom Group Ltd. (ASX: MAQ)

This provider of telecommunication and hosting services to corporate and government customers has seen its shares fall 3.5% on Friday. I see no reason at all for the company’s shares to get caught up in this sell-off and think investors ought to consider taking advantage of this share price weakness. After all, with its data centre business booming, it could be a cheaper alternative to market darling Nextdc Ltd (ASX: NXT).

As well as Aristocrat, Crown, and Macquarie Telecom, I think these top shares are trading at great prices now.

Top 3 ASX Blue Chips To Buy In 2018

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of and has recommended Crown Resorts Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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