One of the benefits of a stock market wobble like the one we've been witnessing for the past few weeks is that we get to buy ASX value stocks at cheap prices.
ASX value stocks are, by definition, already cheap. If they weren't, they wouldn't be good value as a buy, after all.
But cheap shares can get cheaper. And when they do, it can be a wonderful opportunity to lock in a low price for a lifelong investment.
So today, let's discuss two ASX stocks that I think represent compelling value opportunities right now.
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2 ASX value stocks for a lifetime buy today
Woolworths Group Ltd (ASX: WOW)
It's no secret that Woolworths shares have had a rough year or two. Even after recovering by around 14% from December's 52-week low of $27.60 a share, the company remains down by around 25% from its 2021 peak of $42 a share.
Today, Woolworths trades on a price-to-earnings (P/E) ratio of just under 24, which is below that of its arch-rival Coles Group Ltd (ASX: COL)'s 25.4.
As the clear market leader in the grocery and supermarket space, it is very unusual for Woolworths to trade cheaper than Coles. It is also unusual for woolies to have a dividend yield of 3.3%, which it does currently. In my view, this makes Woolworths an ASX value stock today. I think the company's woes are temporary, and as such, make today's pricing a good entry point for a lifelong holding.
Australian Foundation Investment Co Ltd (ASX: AFI)
AFIC, as it is commonly known, is a listed investment company (LIC) that holds a portfolio of conservative investments with a long-term outlook. It typically contains a range of ASX blue chip stocks, including Commonwealth Bank of Australia (ASX: CBA), BHP Group Ltd (ASX: BHP) and CSL Ltd (ASX: CSL).
Long-term investors love AFIC for its simple, hands-off approach. And recent pricing might present a compelling opportunity for what might be an ASX value stock.
AFIC's portfolio is similar to that of the broader S&P/ASX 200 Index (ASX: XJO). As such, the AFIC share price has taken quite a tumble since February. It's currently still down 7.77% from its February peak, although it has bounced a little over the past week.
With a dividend yield of 3.8% on the table today, I think AFIC is another share that could be described as an ASX value stock today. Long-term investors could do worse than this LIC right now.
