Reward 2000 Tiger-coinsWith a new year approaching, now could be a good time to look at making some new additions to your portfolio. I would like to invite you to recommend an ASX share for 2023,and you will win Tiger Coins.
In the absence of the previous rate-hiking periods, Australia's stock market has experienced turbulent times. As of June, the benchmark index had fallen into the correction zone for the first time in twoyears, whichis defined as a 10% decline from the recent peak.
However, the benchmark index still enjoyed monthly gains for the majority of the time. By the end of November, the index had pared more than half of its losses and was only 3% below the level at the beginning of the year.
There was wide variation in the performance of each ASX sector. The energy, utilities, and materials sectors have benefited from robust demand and higher prices as a result of the Ukraine war, which increased demand for Australian exports. In contrast, the information and real estate sectors are the most affected by higher interest rates.
What do you think of the stock market performance in 2023? If you were to recommend an ASX share for 2023, what would you recommend?
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Please leave a message in the comments section of this post, and recommend an ASX share for 2023 ๐ธ๐ธโ
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โฐActivity Duration
21 December 2022-28 December, 2022
Comments
TLS, is Australia's largest telco and a well-established player in the industry. With a strong presence in both the mobile and fixed-line markets, TLS has consistently delivered solid financial performance and is considered a reliable dividend payer for investors in 2023!
TLS generates revenue from a range of sources, including mobile and broadband services, enterprise, government and MNC. This diversification helps to mitigate the impact of any potential downturn in any one specific market. With the rollout of 5G network in Aussie, TLS is also well positioned to benefit from the accelerating 5G penetration in smartphones and other applications!
In addition, TLS also has a strong balance sheet, with low levels of debt and strong cashflow. Along with its leading position in the teleco market, it is a solid investment option in 2023!
๐๐๐My Top Pick For 2023 is $WESFARMERS LIMITED(WES.AU)$ This Blue Chip stock is undervalued and oversold. Wesfarmers is down 22% this year and represents a compelling buy. It ticks all the core fundamentals of a quality stock. Wesfarmers has a wide moat with Bunnings, the largest DIY chain in Australia. It owns KMart, Officeworks. It is now into healthcare with its acquisition of Priceline. It also invested in a lithium mine project which will be profitable due to high lithium prices.
I like that Wesfarmers pays great dividends with the current dividend yield at 3.9% while I wait for capital growth.
2023 will be a great year for Australian stock market because its strength in the commodity and mining sectors as well as its financial sector. With warmer China Australia relationship, trade with China will increase and thus will so good for the stock markets.
@Tiger_AU
The lithium miner expects production to grow threefold by 2026, which could enable it to maintain a 10% share of global lithium production over the next decade.โฏ
Allkemโs share price could see strong growth in future on the back of rising demand for lithium as the adoption of electric vehicles accelerates. @Tiger_AU
For the 2022 financial year, the sales rose 2% year over year and its earnings before interest and tax remained at levels comparable with the previous year despite headwinds such as COVID-19 lock downs in the first half and floods in the January. According to Reuters, the company trades at a forward P/E ratio of 21.11 which is a fair price for a business with Coles Group Limited's quality. @Tiger_AU