If you're looking to take advantage of the recent market selloff to make your first investment, then you're in luck.
A lot of quality shares have fallen heavily recently and are now trading at a significant discount to what investors were happy to pay just a few weeks ago.
If you just have $1,000 to invest, then I would suggest you think long-term and consider the two ASX shares list below. Here's why I like them:
Afterpay Ltd (ASX: APT)
The first option to consider investing $1,000 into its Afterpay. I believe this payments company would be a fantastic long term option due to the growing popularity of the buy now pay later (BNPL) payment method with both consumers and retailers. This is particularly the case with younger consumers that are turning away from credit cards in their droves in favour of BNPL options.
At the end of FY 2020 the company had a total of 9.9 million active customers, up 116% year on year. This comprises 3.3 million ANZ customers 1 million UK customers, and 5.6 million US customers. The latter now contributes 56.5% of its total customers, but is still only scratching at the surface of its huge market opportunity in the $5 trillion market. In addition to this, the company is launching in Europe soon and has its eyes on the Asian market. All in all, if everything goes to plan, I feel Afterpay could become a giant of the payments industry. This could make it worth taking advantage of the 23% pullback in the Afterpay share price from its high.
CSL Limited (ASX: CSL)
If you're going to make your first investment, why not make it the highest quality company that Australia (arguably) has to offer. I think this biotherapeutics company would be a great option for investors due to the strong long-term growth potential of both its CSL Behring and Seqirus businesses.
CSL Behring is the global leader in plasma therapies and Seqirus is the second biggest influenza vaccines company globally. Both businesses have been growing strongly in recent years and look well-placed to continue this trend for some time to come. This is thanks to increasing demand for immunoglobulins, the quality of its products, and their burgeoning development pipelines. So with the CSL share price down 18% from its high, now could be an opportune time to invest.
