It has been a brutal few weeks for the Australian share market.
Trade tensions, rising uncertainty, and a sharp selloff on Wall Street have sent the ASX 200 index tumbling. But while that might be scary for some investors, it is always worth remembering that these are often the moments when long-term wealth is built.
As Warren Buffett once said: "Be fearful when others are greedy and greedy when others are fearful."
And with plenty of fear baked into prices right now, some quality ASX shares are looking better value than they've been in a long time.
If I had $10,000 to invest in the market today, I'd be looking for high-quality businesses that have fallen with the broader market but still have excellent long-term outlooks. And here are three ASX shares that analysts rate as buys that tick that box for me.
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ResMed Inc. (ASX: RMD)
ResMed is the global leader in CPAP machines and masks used to treat sleep apnoea, a growing health issue worldwide. The company has delivered consistent sales growth, strong margins, and increasing earnings.
Despite its strength and highly positive outlook, ResMed shares have pulled back materially from their highs during the market selloff. But analysts at Goldman Sachs believe the market has overreacted and see significant value in this ASX share at current levels. The broker currently has conviction buy rating and $49.00 price target on ResMed's shares.
GQG Partners Inc. (ASX: GQG)
This global fund manager might fly under the radar, but it has quietly become one of the most generous dividend payers on the ASX. The company has a history of strong investment performance and has a very favourable dividend policy, which is supported by rising funds under management.
The stock has faced some volatility, but the team at Goldman Sachs remains positive and believes dividend yields above 12% are coming in FY 2025 and FY 2026 based on where its shares trade today. It is partly for this reason that the broker has a buy rating and $3.20 price target on this ASX share.
Temple & Webster Group Ltd (ASX: TPW)
A final ASX share to look at for a $10,000 investment is Temple & Webster. It is one of Australia's leading online homewares and furniture retailers. It has caught the eye of investors in recent years, delivering exceptionally strong sales growth. And with sales in this category still predominantly being made offline, Temple & Webster has a significant growth runway.
Analysts at Citi see major upside ahead for its shares. They recently put a buy rating and $21.10 price target on them.
