The volatility that we're seeing on the ASX share market today is a good opportunity to buy shares in my opinion. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) is down by 2.6%.
When share prices are lower, I get excited because it means we can buy our preferred investment ideas at cheaper prices.
Overnight, US tech shares got hammered as monthly US inflation was stronger in August than expected. The NASDAQ 100 (INDEXNASDAQ: NDX) fell by 5.5%.
In 2001, legendary investor Warren Buffett once said this:
To refer to a personal taste of mine, I'm going to buy hamburgers the rest of my life. When hamburgers go down in price, we sing the 'Hallelujah Chorus' in the Buffett household. When hamburgers go up in price, we weep. For most people, it's the same with everything in life they will be buying — except stocks. When stocks go down and you can get more for your money, people don't like them anymore.
With that in mind, here are some ASX shares that are down heavily that I've got my eyes on:
Altium Limited (ASX: ALU)
The Altium share price is currently down by 5%.
I think this business has a lot of long-term potential as it services businesses and engineers that need electronic printed circuit board design software and electrical parts. It's expecting double-digit revenue growth in FY23 and rising profit margins in the coming years.
With a strong balance sheet, excellent cash flow, and a growing dividend, there's a lot to like about this business when it's noticeably cheaper than yesterday. I'm excited by its expansion into enabling manufacturing for clients as well.
Xero Limited (ASX: XRO)
Xero is another large ASX tech share that is getting hit hard today. The Xero share price is currently down 5.87%. Ouch. Since the start of 2022, it's down by 40%.
I think that Xero is a really strong business and a good example of a local business growing well internationally. Its subscriber base gets bigger every year, the average revenue per user (ARPU) is increasing, and its retention rate remains extremely high.
The company still sees plenty of growth ahead, which is why it's re-investing so much of its revenue each year.
Bailador Technology Investments Ltd (ASX: BTI)
Bailador is a technology investment fund that searches for compelling private businesses.
The Bailador share price has fallen by 1.08% at the time of writing, trading at its intraday high of $1.38. It's invested in a number of different sectors including healthcare technology, e-commerce, and hotel management.
After selling some of its investments in 2021, and raising a lot of cash, the ASX share is well positioned to ride this volatility and find new investments, in my opinion.
This will likely be one of my immediate investments when Fool's trading rules allow me to buy shares after mentioning it in this article.
Goodman Group (ASX: GMG)
Finally, Goodman is a large property business that owns, manages, and develops industrial properties around the world.
The Goodman share price is down 6% at the time of writing. I think there is good demand for e-commerce and logistics properties, which is what Goodman specialises in.
With Goodman shares down 30% since the beginning of the year, I think this definitely makes up for the headwind of higher interest rates. I think the ASX share's growing property portfolio can deliver attractive rental profits in the coming years.
