If you have $500 of your hard-earned money to invest and can't decide which ASX shares to buy, then read on.
Listed below are five ASX shares that I think investors can confidently buy right now. They are as follows:
Life360 Inc (ASX: 360)
The Australian share market doesn't have a lot of high-quality tech stocks. But in Life360, it certainly does. This Silicon Valley-based location technology company is behind the eponymous Life360 app, which boasts approximately 60 million monthly active users. Despite this large user base and its rapid EBITDA growth, the company still trades at a deep discount to peers. I feel this makes it an ASX share to buy with confidence for the long term.
Qantas Airways Limited (ASX: QAN)
I think Qantas could be a great ASX share to buy this month. The airline operator's shares are currently trading on lower multiples than pre-COVID times. That's despite the company having structurally stronger earnings now following its transformation. In addition, I suspect that it may not be long until dividends return.
ResMed Inc. (ASX: RMD)
Despite rebounding strongly in recent months from an Ozempic-related sell-off, I still think that this sleep treatment company's shares are undervalued at current levels. This is because I believe ResMed has very strong long-term growth potential even in a world with weight loss wonder drugs. Especially given that sleep apnoea is estimated to affect more than three in ten men and nearly one in five women. This gives it a huge growth runway for the next decade and beyond.
Treasury Wine Estates Ltd (ASX: TWE)
Another ASX share that I think could be a good option for a $500 investment is Treasury Wine. It is the wine giant responsible for a portfolio of popular brands including Penfolds, 19 Crimes, Squealing Pig, Blossom Hill, and Lindeman's. In addition, the company just acquired US-based wine brand DAOU Vineyards for $1.4 billion. I believe this leaves Treasury Wines well-placed for growth over the long term. In addition, it is widely expected that China will soon remove its restrictions on Australian wine, giving the company a major boost. So, with its shares down by almost 25% over the last 12 months, I think now is the time to buy.
Vaneck Morningstar Wide Moat ETF (ASX: MOAT)
When buying shares, I think it is important to focus on quality, strong and sustainable business models, and fair valuations. The good news is that this popular ETF gives ASX investors easy access to approximately 40 shares from the United States that have these qualities. Over the last five years, the ETF has beaten the market with an average 16.5% per annum total return. I suspect that this trend could continue over the long term.
