The S&P/ASX 200 Index (ASX: XJO) looks set to crash lower today after U.S. stocks were sold off overnight amid concerns over rising COVID-19 cases.
The latest SPI futures are pointing to the ASX 200 index falling 95 points or 1.6% lower at the open.
On Wall Street things were even worse, with the Dow Jones falling 2.7%, the S&P 500 dropping 2.6%, and the Nasdaq index tumbling 2.2% lower.
While I'm optimistic this isn't the start of larger declines, I feel it is worth considering which shares you would buy if there were another correction.
Here are three top ASX shares I would love to buy at a steep discount to their current share prices:
Afterpay Ltd (ASX: APT)
I have been very impressed with Afterpay's performance over the last few years and particularly in 2020. Despite the pandemic, the payments company has been growing all its key metrics (such as customer numbers and underlying sales) at an explosive rate. And while I would still buy its shares at the current level for a long term investment, if they were to pull back 20%, it would be a no-brainer buy for me.
Kogan.com Ltd (ASX: KGN)
If there were a sharp pullback in this growing ecommerce company's share price, I would be queuing up to invest. I believe Kogan has the potential to grow materially over the next decade thanks to the seismic shift to online shopping and its increasingly strong market position. Another positive is that the company has just raised funds for acquisitions. If these are a success, they could help accelerate its growth in the coming years.
Pushpay Holdings Ltd (ASX: PPH)
A final option I would be fighting to buy if there were a market crash is Pushpay. I believe the donor management platform provider is one of the best growth shares on the ASX right now and well-placed to grow its earnings at a rapid rate over the next decade. It is aiming to increase its revenue to US$1 billion in the future. This is many multiples the US$127.5 million operating revenue it recorded in FY 2020.
