It's an interesting time to buy ASX shares right now.
The August earnings season is almost upon us. That means we'll get a good look at Aussie companies' operations and their finances.
That also means we could see some big share price moves in the next month or so. While that can seem scary, there could be some potential buys right now by picking up shares that may surprise on the upside, come reporting season.
Here are a few ASX shares that I'd like to buy with $5,000 today.
3 ASX shares I'd like to buy with $5,000
First cab off the rank is Telstra Corporation Ltd (ASX: TLS).
The Telstra share price is down just 5.3% this year, but could be good value in my opinion.
The obvious concern is around the NBN and potential impact on long-term earnings. However, I think Telstra's leadership in the 5G network space could help offset that.
Of course, investors are already pricing that into the share's current $3.35 valuation. But with the coronavirus pandemic clouding growth and earnings expectations, it's worth watching Telstra next month.
The Aussie telco has historically been a strong ASX dividend share. It's currently yielding 2.99% but that may change after August.
A spike in demand thanks to working from home arrangements may boost earnings. Either way, I think we could see more volatility in the Telstra share price this August.
Telstra aside, I also like the look of Saracen Mineral Holdings Limited (ASX: SAR).
The ASX gold share has already rocketed 78.85% higher in 2020 thanks to record gold prices.
Gold prices have surged since March as investors were spooked by the bear market and sought out 'safe haven' assets. So the big question is just how good the August earnings result will be for Saracen.
It may not be a cheap buy at $5.92 per share, but I wouldn't bet against ASX gold shares in 2020.
Finally, I think a broad market index fund could be a good place to invest $5,000.
A passive fund like BetaShares Australia 200 ETF (ASX: A200) could be a good option. This BetaShares ETF seeks to track the S&P/ASX 200 Index (ASX: XJO) with a management fee of just 0.06% p.a.
If you want to invest in ASX shares but don't have a targeted view on which industries, a broad market ETF could fit the bill.
Foolish takeaway
These are just a few ASX shares that I'd like to buy right now. Of course, it's important for investors to consider the overall portfolio fit and investment horizon before buying in.
